Stocks slide, currencies muted ahead of U.S. inflation data

By Susan Mathew

Oct 13 (Reuters) - Emerging market stocks fell 1% on Thursday, their third straight session testing 2020 pandemic-rout lows, while currencies were flat to lower with investors awaiting U.S. inflation data.

The South Korean won KRW= led gains among Asian currencies, down 0.5%, while South Africa's rand ZAR= lost 0.4%. Turkey's lira TRY= and Mexico's peso MXN= were flat.

Among stocks, most major Asian bourses slipped .MIAPJ0000PUS , as did those of South Africa .JTOPI , Poland .WIG and Hungary .BUX , Turkey .XU100 , Russia .IMOEX and some Middle Eastern .KASE .DFMGI indexes rose.

After minutes of the U.S. Federal Reserve's last meeting saw members stressing the need for restrictive policy, September consumer prices data, due at 1230 GMT, is being awaited with interest.

Headline inflation is seen falling year-on-year but rising from the previous month. On Wednesday, data showed U.S. producer prices rose more than expected.

"(Fed) minutes have confirmed what central bankers have recently been repeating tirelessly -- that bringing inflation back to the 2% target is the top priority," said Thu Lan Nguyen, FX and commodity analyst at Commerzbank.

"Although the U.S. dollar has already appreciated significantly in recent days, I still see the risks on the side of a strong U.S. currency... because current inflation levels are so far away from the Fed's target."

Emerging market stocks .MSCIEF are on course for their worst year since a global financial crisis rout in 2008, as investors worried about central banks' aggressive policy tightening to tackle inflation and recent recession warnings from the International Monetary Fund and the World Bank.

Rising debt levels and mounting fiscal pressures underscore the urgency for more "orderly debt restructuring" efforts for low-income countries, the IMF said.

EM currencies .MIEM00000CUS are on course for their worst year on record.

Against the euro, most central and eastern European currencies made muted moves, although Hungary's forint EURHUF= marked its fourth straight day of falling to new lows. It hit 433.89 against the euro on Thursday in its eighth straight session of losses - its longest losing streak since March last year.

Hungary's proximity to the escalating Russia-Ukraine war and worries about energy supplies, rising energy costs and access to European Union funds have seen the forint slump nearly 15% on the year, the worst by a significant margin among regional peers.

Hungary's central bank left its one-week deposit rate unchanged at 13.00% at a weekly tender on Thursday.

In India, the central bank, which is seeking to curb declines in the rupee INR= after it slid to all-time lows last week, is asking local banks to not build additional positions in the non-deliverable forward market, a move that could lead to volatility in local markets. For GRAPHIC on emerging market FX performance in 2022, see Link For GRAPHIC on MSCI emerging index performance in 2022, see Link

For TOP NEWS across emerging markets

For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see
Reporting by Susan Mathew in Bengaluru; Editing by Raissa Kasolowsky

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。


本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。