Asian shares fall ahead of U.S. payrolls data, dollar nurses losses



*

Markets cautious ahead of U.S. non-farm payrolls

*

Investors look for more signs about China reopening

*

U.S. yields steady after falling for 2nd straight day

*

Euro at 5-month high against dollar; yen at 3-month high

By Stella Qiu

SYDNEY, Dec 2 (Reuters) - Asian shares fell and Treasuries held on to gains on Friday ahead of U.S. non-farm payrolls data, the next big test for investors looking for more signs of a rates policy shift from the Federal Reserve, while the dollar nursed heavy losses.

The cautious tone in share markets, after the recent big rally, is set to extend to Europe, with the pan-region Euro Stoxx 50 futures STXEc1 easing 0.2%, German DAX futures FDXc1 down 0.1% and FTSE futures FFIc1 0.2% lower.

In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS lost 0.7%. Nonetheless, the index was set for a weekly gain of 3.6%, hovering around its highest level since mid-September. Japan's Nikkei .N225 fell 1.7%.

S&P 500 futures ESc1 softened 0.2%, while Nasdaq futures NQc1 fell 0.3%. U.S. shares ended mixed on Thursday after a big rally the day before, buoyed by comments from Fed Chair Jerome Powell that did not sound as hawkish as some had feared.

Data overnight including falling U.S. job openings and contracting U.S. manufacturing activity, pointing to signs of easing cost pressure added to evidence that the Fed's rate hikes have cooled the economy.

Investors are also watching for more signs that China is easing its zero-COVID policy, and whether China would contribute more to global growth next year amid a looming global recession.

Chinese blue chips slid 0.5%, as the country grappled with a surge in COVID-19 cases. Hong Kong's Hang Seng index .HSI reversed earlier gains to be down 0.7%.

Sources told Reuters that China is set to announce an easing of its COVID quarantine protocols in the coming days and a reduction in mass testing, a marked shift in policy after anger over the world's toughest curbs fuelled widespread protests.

Shane Oliver, chief economist at AMP Capital, said after a strong November markets in some cases are up to around technical resistance levels, and it may take a while to get through those points.

"But I suspect given the increasing signs that inflation is peaking globally and China is easing its COVID restrictions moving away from zero COVID - they haven't said as much but certainly it is moving away from zero COVID - that those things are probably positive," he said.

"I think the rally can probably continue but in the short-term the payrolls are the one to watch closely."

Alan Ruskin, macro strategist at Deutsche Bank, said if the nonfarm payrolls increased by 50,000-150,000 in November, that would be favourable for bonds and equities and keep the U.S. dollar trading lower.

Economists polled by Reuters expect payrolls likely rose 200,000 in November.

Futures have priced in a 78% chance of a rise of 50 basis points at the Fed's December policy meeting, while rates are now expected to peak around 4.75% to 5% by mid next year, compared with 5% to 5.25% previously.

In the bond markets, Treasuries held onto most of their gains after two straight days of rally. The yields on benchmark 10-year Treasury notes US10YT=RR were largely steady at 3.5412%, compared with its U.S. close of 3.527%.

The two-year yield US2YT=RR , which rises with traders' expectations of higher Fed fund rates, was little changed at 4.2687%, compared with a U.S. close of 4.254%.

The U.S dollar =USD on Friday wallowed at its three-month low against major currencies. It was set for a 1.3% weekly drop.

The Euro EUR= hit a fresh five-month high at $1.0539 while the Japanese yen JPY= also scaled a new three-month high against the U.S. dollar.

In the oil market, prices seesawed ahead of a key meeting of producing countries over the weekend.

U.S. crude oil futures CLc1 reversed earlier losses to be flat around $81.21 per barrel, after surging to a two-week high of $83.34 in the previous session on a softer dollar.

Brent crude futures LCOc1 also rose 0.14% to $87.01 per barrel.

Gold was slightly lower. Spot gold XAU= was traded at $1796.19 per ounce.



Asia stock markets Link
Asia-Pacific valuations Link



Editing by Stephen Coates and Kenneth Maxwell


Avertissement : Les entités de XM Group proposent à notre plateforme de trading en ligne un service d'exécution uniquement, autorisant une personne à consulter et/ou à utiliser le contenu disponible sur ou via le site internet, qui n'a pas pour but de modifier ou d'élargir cette situation. De tels accès et utilisation sont toujours soumis aux : (i) Conditions générales ; (ii) Avertissements sur les risques et (iii) Avertissement complet. Un tel contenu n'est par conséquent fourni que pour information générale. En particulier, sachez que les contenus de notre plateforme de trading en ligne ne sont ni une sollicitation ni une offre de participation à toute transaction sur les marchés financiers. Le trading sur les marchés financiers implique un niveau significatif de risques pour votre capital.

Tout le matériel publié dans notre Centre de trading en ligne est destiné à des fins de formation / d'information uniquement et ne contient pas – et ne doit pas être considéré comme contenant – des conseils et recommandations en matière de finance, de fiscalité des investissements ou de trading, ou un enregistrement de nos prix de trading ou une offre, une sollicitation, une transaction à propos de tout instrument financier ou bien des promotions financières non sollicitées à votre égard.

Tout contenu tiers, de même que le contenu préparé par XM, tels que les opinions, actualités, études, analyses, prix, autres informations ou liens vers des sites tiers contenus sur ce site internet sont fournis "tels quels", comme commentaires généraux sur le marché et ne constituent pas des conseils en investissement. Dans la mesure où tout contenu est considéré comme de la recherche en investissement, vous devez noter et accepter que le contenu n'a pas été conçu ni préparé conformément aux exigences légales visant à promouvoir l'indépendance de la recherche en investissement et, en tant que tel, il serait considéré comme une communication marketing selon les lois et réglementations applicables. Veuillez vous assurer que vous avez lu et compris notre Avis sur la recherche en investissement non indépendante et notre avertissement sur les risques concernant les informations susdites, qui peuvent consultés ici.

Nous utilisons des cookies pour vous donner la meilleure expérience possible de notre site internet. En savoir plus ou modifier vos paramètres de cookies.

Avertissement sur les risques : votre capital est à risque. Les produits à effet de levier ne sont pas recommandés pour tous. Veuillez consulter notre Divulgation des risques