Stocks stage small rebound as investors weigh cenbanks' next move
* Fed policymakers including Powell to speak this week
* French yields rise after Macron election loss
* Dollar dips but remains near two-decade highs
* Graphic: Global asset performance Link
* Graphic: World FX rates Link
By Tommy Wilkes
LONDON, June 20 (Reuters) - Stock markets chalked up modest gains on Monday after last week's hefty losses as investors braced for a host of U.S. Federal Reserve speakers this week, where they could underline a commitment to fight inflation whatever rate pain required.
Trading was thinned by a U.S. holiday and investors predicted another choppy session.
The euro was little moved after French President Emmanuel Macron lost control of the National Assembly in legislative elections on Sunday, a major setback that could throw the country into political paralysis.
However, French government bond yields widened, a sign of some investor nervousness.
By 0920 GMT, the Euro STOXX .STOXX rose 0.3%. Germany's DAX .GDAXI gained 0.4% while French shares eked out a similar gain .FCHI despite Macron's electoral setbacks.
Holger Schmieding, an economist at Berenberg, said Macron's party would now have to learn the art of compromise to push ahead with its policies.
"As most Republicans and other mainstream forces in France are less interested in strengthening European integration than Macron, his ability to shape and promote the European agenda will be even more limited than before," he said.
Nasdaq futures NQc1 climbed 0.68%, building on Friday's gains while S&P 500 futures ESc1 rallied 0.5%.
The S&P 500 fell by almost 6% last week to trade 24% below its January high. Analysts at BofA noted this was the 20th bear market in the past 140 years and the average peak to trough bear decline was 37.3%.
Investors will be hoping it does not match the average duration of 289 days, given it would not end until October 2022.
In Asia, shares on Monday fell. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS lost 0.2% and Tokyo's Nikkei .N225 0.7%.
Chinese blue chips .CSI300 increased 0.5%, aided by news President Joe Biden was considering removing some tariffs on China.
The focus on the path for interest rates and inflation is likely to dominate markets this week too. A series of central bank hikes last week, including a surprise move by the Swiss National Bank, will be followed by more tightening as policymakers try to tame soaring price growth.
Relief seems unlikely this week with UK inflation figures expected to show another alarmingly high reading that could push the Bank of England into hiking at a faster pace.
A whole chorus line of central bankers are also on the speaking calendar this week, led by a likely hawkish testimony from Federal Reserve Chair Jerome Powell's to the U.S. House of Representatives on Wednesday and Thursday.
"Markets are still digesting the higher re-pricing of Fed rate expectations, and global risk assets may struggle to show any sustainable rebound for now. All this should keep the dollar mostly in demand in a week where markets will focus on Powell's testimony," ING analysts said in a note.
The Fed last week vowed its commitment to containing inflation was "unconditional", while Fed Governor Christopher Waller said on Saturday he would support another hike of 75 basis points in July.
"With rapidly slowing growth momentum and a Fed committed to restoring price stability, we believe a mild recession starting in Q4 is now more likely than not," warned analysts at Nomura.
"Financial conditions are likely to tighten further, consumers are experiencing a significant negative sentiment shock, energy and food supply disruptions have worsened and the outlook for foreign growth has deteriorated."
The hawkish outlook is keeping the dollar index higher and it last traded at 104.42 =USD . That was down 0.3% on the day but not far from last week's two-decade high of 105.790.
The euro rose 0.2% to $1.0516 EUR=EBS , still uncomfortably close to last week's trough at $1.0357.
The yen remained under broad pressure as the Bank of Japan stuck doggedly to its super-easy policies. The dollar was last down slightly at 134.64 yen JPY= , having reached its highest since 1998 against the Japanese currency last week.
After massive moves last week, government bond yields were generally calmer.
Bitcoin BTC=BTSP slipped 1% to $20,438, having bounced sharply over the weekend amid talk of a single large buyer.
Oil prices edged lower again after a sharp retreat late last week amid concerns a global recession would curb demand.
Brent LCOc1 0.7% to $112.29, while U.S. crude CLc1 lost 0.5% to $109.03 per barrel.
Global FX performance Link
Global asset performance Link
Additional reporting by Wayne Cole in Sydney, editing by Mark
Mga Kaugnay na Asset
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.