Dolar Mencatat Penguatan Bulanan Tertajam Sejak Januari

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Dolar sedikit lebih tinggi pada hari Senin, memperkuat kinerja terbaik bulanan sejak awal tahun karena investor bersiap untuk menunggu kenaikan suku bunga oleh Federal Reserve, yang banyak diharapkan pada bulan Desember.

Indeks Dolar naik 0,2% pada hari ke level 100,16 akhir Senin di New York. Ini naik setinggi 100,31 pada awal sesi, level tertinggi sejak Maret.

Indeks tersebut naik 3,4% pada bulan November, kinerja bulanan tertajam sejak naiik sebanyak 5% pada Januari, menurut data FactSet.

Pound Inggris diperdagangkan lebih tinggi Senin setelah pembacaan yang kuat pada pertumbuhan ekonomi kuartal ketiga di Inggris Tapi mata uang turun 2,4% terhadap dolar pada bulan November, sebagian besar disebabkan komentar ketua ekonom Bank of Inggris Andy Haldane, yang mengatakan Inggris tidak membutuhkan kenaikan suku bunga dalam waktu dekat.

Pound diperdagangkan pada $ 1,5059 Senin, dibandingkan dengan $ 1,5032 pada akhir Jumat.

Yen turun 2% dari nilai pada bulan November, didorong lebih rendah oleh komentar dari pembuat kebijakan The Fed. Satu dolar dibeli ¥ 123,08 Senin, dibandingkan dengan ¥ 122,76 akhir Jumat.

Dalam perdagangan mata uang lain, yuan China diperdagangkan lebih tinggi pada Senin setelah IMF memutuskan untuk menambah mata uang, yang juga dikenal sebagai renminbi. Satu dolar dibeli sebesar 6,43 yuan pada akhir Senin.(yds)

Sumber: MarketWatch

Gold Futures Advance as U.S. Slower Home Sales Give Bears Pause

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Gold advanced for the first time in three sessions as signs of cooling U.S. housing and manufacturing called into question the extent to which the Federal Reserve will raise interest rates.

Bullion has fallen 10 percent this year on expectations that the Fed will raise interest rates for the first time since 2006 next month. The dollar has also strengthened against the euro as analysts predict the European Central Bank will unveil additional stimulus this week. Higher U.S. rates boost the appeal of the dollar and curb demand for precious metals because they don’t give returns like other assets such as bonds or equities.

Gold futures for February delivery gained 0.9 percent to settle at $1,065.30 an ounce at 1:47 p.m. on the Comex in New York, the first advance since Nov. 24.

Silver futures also gained on the Comex, while platinum and palladium retreated on the New York Mercantile Exchange.

Source: Bloomberg

U.S. Stocks Trim Monthly Gains as Investors Await Policy Moves

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U.S. stocks trimmed monthly gains, with the Standard & Poor’s 500 Index clinging to a slim November increase, as investors prepared for policy decisions from central banks while awaiting a slew of economic data this week.

The S&P 500 advanced 0.1 percent in the month as signs of a strengthening U.S. economy offset concerns that the Federal Reserve intends to raise interest rates this year, throttling back on stimulus that has underpinned the 6 1/2 year equities bull market. The rising prospects for tighter monetary policy boosted financial shares to a 1.7 percent gain in November, while utility stocks tumbled 2.8 percent as their dividend yields lose luster as bond rates rise.

The S&P 500 Index fell 0.5 percent to 2,080.67 at 4 p.m. in New York, capping its first consecutive monthly gains since May.

As investors look for further confirmation that the economy is sturdy enough to handle higher borrowing costs, data today showed contract signings to purchase previously owned U.S. homes rose less than forecast in October, showing residential real estate is cooling heading into the quieter selling season. Other reports this week include manufacturing data tomorrow and the monthly government jobs report on Friday.

Federal Reserve Chair Janet Yellen will speak to Congress on Thursday and the European Central Bank will hold its last policy meeting of the year amid growing speculation the ECB will take additional steps to boost inflation. OPEC members will also meet to discuss oil production.

Source : Bloomberg

U.S. Stocks Slip Amid Retreat in Consumer, Health-Care Shares

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U.S. stocks fell as consumer and health-care companies pared their monthly gains and investors prepared for policy decisions from central banks while awaiting a slew of economic data this week.

The Standard & Poor’s 500 Index fell 0.4 percent to 2,082.82 at 12 p.m. in New York, after rising less than 0.05 percent last week. The gauge is on track for a second consecutive monthly advance. The Dow Jones Industrial Average slipped 62.93 points, or 0.4 percent, to 17,735.56, and the Nasdaq Composite Index lost 0.4 percent.

The S&P 500 has rebounded 12 percent from its low in August as concern eased that a Chinese slowdown would spread. Fed policy makers have signaled the economy is strong enough to withstand the first U.S. interest-rate increase since 2006, and traders are pricing in a 76 percent chance that the central bank will act at the conclusion of its two-day meeting on December 16.

The U.S. benchmark stock index closed on Friday within 2 percent of its record reached in May while alternating between between gains and losses over the last nine sessions, the longest such streak since 2013. Meanwhile, the Russell 2000 Index of small-cap shares is in the midst of its longest rally this year and is at a three-month high. The gauge is on pace for a 3.4 percent increase this month after rallying 5.6 percent in October.

The Chicago Board Options Exchange Volatility Index rose 9.3 percent Monday to 16.52. The measure of market turbulence known as the VIX slipped for a second straight week, paring its first monthly gain since August’s record increase.

Source: Bloomberg

Europe Stocks Climb to Three-Month High on Stimulus Anticipation

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European stocks pulled off a second monthly advance on bets the region’s central bank will increase stimulus at this week’s meeting.

The Stoxx Europe 600 Index rallied to a three-month high, taking its November gain to 2.7 percent. Auto-related shares rose the most on Monday as the weakening euro is seen helping exporters. Economists surveyed by Bloomberg unanimously predict the European Central Bank will expand stimulus on Thursday.

The Stoxx 600 increased 0.5 percent to 385.43 at the close of trading in London, reversing an earlier drop of as much as 0.5 percent. While commodity producers also ended up rallying on Monday, BHP Billiton Ltd. bucked the trend. It extended a seven-year low, after Brazil’s Attorney General said the country will seek as much as 20 billion reais ($5.2 billion) compensation for a dam collapse at an iron-ore venture owned by the company and Vale SA.

The European stock index has rebounded 14 percent since a September low on expectations of further ECB stimulus, coupled with optimism that the global economy is strong enough to withstand higher U.S. interest rates.

Source : Bloomberg

Euro Heads for Biggest Monthly Loss Since March on ECB Outlook

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The euro headed for its biggest monthly decline since March as economists unanimously forecast the European Central Bank will unveil additional stimulus this week.

The 19-nation currency approached the lowest in seven months versus the dollar as investors are pricing in a 100 percent chance of a 10-basis-point cut in the ECB’s deposit rate on Dec. 3. A gauge of the dollar climbed to the highest since March as futures predict the Federal Reserve will increase interest rates in December, expanding the divergence between the two central banks.

The euro fell 0.1 percent to $1.0583 as of 11:16 a.m. in Tokyo after sliding to $1.0566 on Nov. 25, the lowest since April 14. The currency has weakened 3.8 percent in November, its biggest loss since a 4.2 percent decline in March.

The U.S. Dollar Index, which tracks the greenback against six major peers, gained 0.1 percent to 100.14 after rising to 100.23, the highest since March 16.

Source: Bloomberg

Oil Set for Monthly Decline as OPEC Seen Standing Firm on Supply

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Oil headed for its largest monthly drop since July as Iran signaled the Organization of Petroleum Exporting Countries won’t reduce its production target at a meeting this week.

Futures were little changed in New York and down 10 percent in November. Iran expects no major decisions that would change OPEC’s output target when the group gathers Dec. 4 in Vienna, Oil Minister Bijan Namdar Zanganeh said at a conference in Tehran. Prices retreated at the end of last week as Libya sought to boost supply and Russia ruled out military retaliation against Turkey for downing its jet near the Syrian border.

Oil is set to average below $50 for a fourth month, the longest stretch since the global financial crisis, as a record supply glut showed no signs of ending amid a producers’ fight for market share. Iran has said it will announce plans during the Vienna meeting to expand output, a year after Saudi Arabia led an OPEC decision to keep pumping and drive out higher-cost shale rivals.

West Texas Intermediate for January delivery was at $41.88 a barrel on the New York Mercantile Exchange, up 17 cents, at 11 a.m. Seoul time. The contract ended Friday down $1.33, or 3.1 percent, at $41.71. The volume of all futures traded was about 33 percent below the 100-day average.

Brent for January settlement was 5 cents lower at $44.81 a barrel on the London-based ICE Futures Europe exchange. Prices have slid almost 10 percent this month. The European benchmark crude was at a premium of $2.93 to WTI.

Source: Bloomberg

Japanese Stocks Decline, Paring Second Monthly Gain in Topix

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Japanese stocks slipped, paring the Topix index’s second straight monthly gain, as insurers, shippers and energy explorers led declines.

The Topix index fell 0.6 percent to 1,585 at the trading break in Tokyo, with about nine shares declining for every eight that rose. The measure is on course for a 1.7 percent advance in November following its biggest increase in 2 1/2 years in October. The Nikkei 225 Stock Average slipped 0.4 percent to 19,807.43.

Data on Monday showed Japan’s industrial production rose 1.4 percent in October from a month earlier, missing economists forecasts for a 1.8 percent gain.

Parcel delivery company Yamato Holdings Co. tumbled 3.9 percent to lead declines on the Nikkei 225. Daito Trust Construction Co. gained 0.8 percent after Daiwa Securities Group Inc. raised its investment rating on the real-estate company. Exporters including Toyota Motor Corp. and Honda Motor Co. gained after yen strengthened against the dollar on Friday.

Source: Bloomberg

Shanghai Composite Fluctuates After Biggest Rout in Three Months

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China’s benchmark stock index swung between gains and losses as traders weigh the start of the subscription period for initial public offerings and an International Monetary Fund meeting to decide whether to grant reserve-currency status to the yuan.

The Shanghai Composite added 0.2 percent to 3,443.59 at 9:45 a.m. local time, erasing a loss of as much as 0.4 percent. The gauge posted its biggest loss in three months on Friday after some of the nation’s largest brokerages disclosed regulatory probes, industrial profits fell and concern grew new IPOs will lure funds away from existing shares. Haitong Securities Co. led declines for brokerages on Monday, slumping 9.5 percent as shares resumed trading. Power producers advanced, with China Yangtze Power Co. gaining 2.3 percent.

Hang Seng Index -0.7% to 21,919.53, trading at lowest since Oct. 6 and headed for 3.2% drop for the month.

Source: Bloomberg

Asian Stocks Slide After Chinese Selloff as Material Shares Drop

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Asian stocks fell after Chinese shares posted the biggest one-day selloff in three months. Material and consumer-staple shares led losses on the benchmark index at the start of a pivotal week for the region’s markets.

The MSCI Asia Pacific Index lost 0.3 percent to 132.82 as of 9:02 a.m. in Tokyo, headed for a monthly loss of 1.2 percent, its sixth such decline in seven months. This week brings a decision by the European Central Bank and the last reading on U.S. jobs before the Federal Reserve decides on whether to raise interest rates in December. The Shanghai Composite Index dropped 5.5 percent on Friday, its largest retreat since the depths of a market rout in August, as regulators clamped down on brokerages.

Japan’s Topix index lost 0.3 percent. Data Monday showed a preliminary reading for industrial production rose less than economists estimated in October compared with the previous month, while retail sales climbed more than they had expected.

Source: Bloomberg

Oil Falls as Mideast Tension Between Russia and Turkey Eases

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Oil fell in New York for the first time this week as fears of Russian military retaliation against Turkey dissipated.

West Texas Intermediate for January delivery fell 53 cents, or 1.2 percent, to $42.51 a barrel at the 1 p.m. close of trading on the New York Mercantile Exchange. The volume of all futures traded was 74 percent below the 100-day average. Floor trading was closed today because of the U.S. Thanksgiving holiday.

Brent for January settlement slid 71 cents, or 1.5 percent, to $45.46 a barrel on the London-based ICE Futures Europe exchange, the first decline in seven days. The European benchmark crude traded at a premium of $2.95 to WTI.

Source: Bloomberg

Gold Held Near Five-Year Low as U.S. Rate-Increase Bets Rise

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Gold held near a five-year low as economic data from the U.S. shifted investors’ focus back to when the Federal Reserve will start to raise borrowing costs and away from geopolitical tensions in the Middle East that had buoyed prices.

Bullion for immediate delivery was little changed at $1,071.48 an ounce by 1:52 p.m. in London after dropping to $1,064.55 on Nov. 18, the lowest level since February 2010, according to Bloomberg generic pricing. Prices gained on Tuesday after Turkish forces downed a Russian fighter jet amid the conflict in Syria.

Gold is headed for a monthly loss as prospects for higher interest rates damp the metal’s allure as a store of value. Orders for business equipment in the U.S. climbed more than economists forecast in October and jobless claims slid to the lowest in a month. Still, the Atlanta Fed’s GDPNow tracking model cut its forecast for fourth-quarter economic growth to 1.8 percent on Nov. 25, from 2.3 percent a week earlier, according to its website.

Odds of a move by the Fed in December are 72 percent, up from 50 percent at the end of October, Fed-fund futures data show. Gold has dropped 9.6 percent this year as strengthening U.S. data supported the case for higher rates, boosting the dollar.

The U.S. will release initial jobless claims on Dec. 3 and non-farm payrolls a day later.

Holdings in gold-backed exchange-traded products shrank for a sixth day to 1,493.52 metric tons on Wednesday to the lowest level since February 2009, data compiled by Bloomberg show. China’s net imports of the metal from Hong Kong slid for the first time in four months, according to data from the Hong Kong Census and Statistics Department.

Spot silver advanced 0.4 percent, platinum increased 0.9 percent while palladium gained 0.8 percent. U.S. financial markets will be shut Thursday for the Thanksgiving Day holiday. Gold for February delivery rose 0.1 percent to $1,070.70 an ounce in electronic trading on Comex in New York.

Source : Bloomberg

Asian Stock Futures Climb Amid Metals Bounce; Euro Holds Losses

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A rally in metals burnished the outlook for Asian stocks, with index futures foreshadowing gains from Japan to Australia ahead of data on Chinese industrial company profits.

Futures on equity gauges in the region climbed at least 0.1 percent after signs that China may act to prop up metals prices saw copper to zinc and aluminum jump to their highest levels in at least a week. U.S. index futures rallied Thursday with most other markets there closed for Thanksgiving, while oil retreated in electronic trading. The dollar held on to gains near a seven-month high versus the euro as investors mulled the outlook for American interest rates and the potential for further global monetary policy divergence.

While trading was muted given the U.S. holiday, metals led market gains Thursday, with their advance bolstering equities from Europe to Canada. Prospects China that may intervene in the domestic metals industry to stop excessive short selling underpinned price gains, with the largest copper and nickel suppliers planning to meet this week to weigh their response to the slump in prices, according to people with knowledge of the matter. With concern over China’s slowdown weighing on commodities this year, Friday’s profits data will garner particular attention, along with an update on Japanese consumer prices.

New Zealand’s S&P/NZX 50 Index added 0.1 percent as of 7:49 a.m. Tokyo time, rising for a second day to be headed for a 1.4 percent advance in the week.

In Japan, futures on the Nikkei 225 Stock Average were up 0.3 percent to 20,000 in Osaka, while contracts on Australia’s S&P/ASX 200 index gained 0.3 percent despite losses in London-traded stock of BHP Billiton Ltd., the world’s biggest mining company. The shares fell 2.4 percent Thursday after the United Nations said waste from a deadly mine spill in Brazil was toxic and BHP, along with its partner in the project Vale SA, hadn’t taken sufficient steps to prevent harm.

Futures on Hong Kong’s Hang Seng Index added 0.4 percent in most recent trading, while those on the Hang Seng China Enterprises Index, a gauge of mainland stocks listed in the city, were up 0.5 percent. Futures on the Kospi index in Seoul gained 0.1 percent as contracts on the FTSE China A50 Index rose 0.3 percent.

The Shanghai Composite Index is headed for a second week of gains, with the measure having pared its losses since China’s shock currency devaluation in August roiled global markets.

Taiwan also issues a final reading on third-quarter gross domestic product Friday, while U.S. markets close early.

Source: Bloomberg

European stocks close at 3-month highs

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European stocks ended at a three-month high Thursday, with a rally in Infineon Technologies AG helping to push the region’s benchmark to a second straight session of gains.

The Stoxx Europe 600 rose 0.9% to 384.37, its best finish since Aug. 18, according to FactSet data. Thursday’s win builds on Wednesday’s 1.4% rally, which came after a report that the European Central Bank is looking at expanding stimulus measures for the eurozone.

The euro EURUSD, was stuck at around seven-month lows on Thursday, buying $1.0609 compared with $1.0619 late Wednesday. The shared currency dipped below $1.06 on Wednesday after Reuters reported that ECB policy makers were thinking about widening the scope of their bond buying program or implementing a two-tier penalty charge on banks that leave cash with the central bank.

Aided by losses of the euro, German stocks climbed for a second consecutive session. The DAX 30 DAX, jumped 1.4% to 11,320.77, hitting its strongest level since mid-August. The index on Wednesday rallied 2.2%.

In Frankfurt Thursday, shares of Infineon Technologies AG charged up 12.9%, topping both the DAX and the Stoxx 600. The best session since May 2009 came after the German chip maker said quarterly profit almost doubled, helped by earnings at its recent acquisition, International Rectifier.

France’s CAC 40 PX1 rose 1.1% to 4,946.02, and the U.K.’s FTSE 100 closed up 0.9% at 6,393.13, led by gains for miners.

Equity trading in the U.S. is closed Thursday for Thanksgiving Day.

Source: MarketWatch

European Stocks Climb for Second Day as Miners, Automakers Rise

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Gains in commodity producers and carmakers pushed European stocks up for a second day.

The Stoxx Europe 600 Index rose 0.3 percent at 8:11 a.m. in London. Miners advanced for the first time in five days as commodities climbed. Automakers gained, with the euro trading near its lowest level since April.

The European stock benchmark gauge rallied 1.4 percent yesterday, climbing after a two-day slump. The index is again nearing a three-month high, spurred by speculation the European Central Bank will add to stimulus measures and that the global economy is strong enough to withstand an increase in U.S. borrowing costs.

Europe’s stocks have regained more than half of their losses since a September low, with the Stoxx 600 closing yesterday 8 percent below the record reached in April. While they’re up in November for a second month, travel shares have been hurt amid terror attacks and geopolitical tensions, and miners further declined as commodities reached their lowest prices since 1999.

U.S. markets are closed today for the Thanksgiving holiday. Futures on the Standard & Poor’s 500 Index expiring in December rose 0.1 percent.

BHP Billiton Ltd. lost 2 percent in London after a United Nations probe into a deadly mine spill said steps that the company took to prevent harm weren’t sufficient. Remy Cointreau SA dropped 1.5 percent as its profit fell more than analysts projected.

Infineon Technologies AG jumped 10 percent after it reported better-than-expected operating income.

Source : Bloomberg

Gold Falls as U.S. Economic Data Fuels Bets on Fed Rate Increase

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Gold fell to near a five-year low as stronger-than-expected U.S. economic data boosted speculation that the Federal Reserve will raise interest rates before the end of this year, damping the metal’s appeal as a store of value.

Orders for business equipment in the U.S. climbed more than economists forecast in October, indicating steady domestic demand, and jobless claims dropped to the lowest in a month. The data add to signs the economy may be strong enough to withstand higher rates, which damp the appeal of gold because it doesn’t pay interest, unlike competing assets.

Gold has fallen the last five weeks, the longest stretch of losses since July. Fed-fund futures show a 74 percent change that officials will tighten monetary policy by their Dec. 15-16 meeting. San Francisco Fed President John Williams said on Saturday that there’s a “strong case” for a December rate increase if U.S. data hold up.

Gold futures for February delivery dropped 0.3 percent to settle at $1,069.70 an ounce at 1:42 p.m. on the Comex in New York. The metal touched a five-year low of $1,062 on Nov. 18.

Holdings in gold-backed exchange-traded products fell for a fifth straight day to 1,494.28 metric tons on Tuesday, data compiled by Bloomberg show. Assets are at the lowest since February 2009.

Silver futures for March delivery slid 0.1 percent to $14.175 an ounce on the Comex.

Source: Bloomberg

Oil Declines as U.S. Crude Supplies Gain While Rig Count Drops

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Oil declined after crude inventories climbed to the highest level for November since 1930 even as explorers idled more drilling rigs.

Crude supplies rose 961,000 barrels to 488.2 million last week, according to an Energy Information Administration report Wednesday. The number of active oil rigs fell to 555, the least in five years, data compiled by Baker Hughes Inc. show. Prices climbed 2.7 percent on Tuesday after Turkey shot down a Russian jet and Saudi Arabia repeated its willingness to stabilize world markets.

WTI for January delivery declined 21 cents, or 0.5 percent, to $42.66 a barrel at 1:51 p.m. on the New York Mercantile Exchange. The contract rose to $42.87 on Tuesday, the highest settlement since Nov. 11. The volume of all futures traded was 15 percent below the 100-day average.

Brent for January settlement fell 26 cents, or 0.6 percent, to $45.86 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude traded at a $3.20 premium to WTI.

Source: Bloomberg

Japan Stocks Rise on Yen as U.S. Data Bolster Case for Fed Hike

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Japanese stocks rose as U.S. economic data provided more support for the Federal Reserve to raise interest rates next month, boosting the dollar against the yen.

The Topix index climbed 0.4 percent to 1,601.12 as of 9:01 a.m. in Tokyo, with insurers leading gains while paper makers declined. The Nikkei 225 Stock Average added 0.5 percent to 19,951.19, near a three-month high. The yen traded at 122.69 per dollar after weakening on Wednesday as a report showed U.S. durable goods orders rose more than expected.

The dollar gained after orders for non-military capital goods excluding aircraft rose 1.3 percent, the most in three months. Traders are pricing in a 72 percent chance of a rate hike at the Fed meeting on Dec. 15-16.

E-mini futures on the Standard & Poor’s 500 Index added 0.1 percent after the underlying gauge closed little changed. U.S. trading was light ahead of Thursday’s Thanksgiving holiday in the U.S.

Source: Bloomberg

Most Asian Stock Futures Rise Amid Oil Rally; Dollar Holds Gains

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Most Asian index futures signaled a rebound following light pre-Thanksgiving trading in the U.S., while the dollar maintained gains.

With U.S. markets shut for the holiday Thursday and calls for an easing in tensions between Russia and Turkey, the Standard & Poor’s 500 Index meandered last session, closing little changed for a third day. Futures on stock gauges in Japan and Hong Kong rose, while those on Australian shares slipped amid early declines in New Zealand equities. The greenback held near a seven-month high versus the euro as investors mulled the likely divergence in global monetary policy. U.S. crude oil was back above $43 a barrel.

The S&P/NZX 50 Index in Wellington lost 0.1 percent by 7:43 a.m. Tokyo time, following the S&P 500’s drop of less than 0.1 percent. Futures on Australia’s S&P/ASX 200 Index were down 0.3 percent in most recent trading, while those on the the Nikkei 225 Stock Average were up 0.5 percent in Osaka amid a retreat in the yen.

Futures on Hong Kong’s Hang Seng and Hang Seng China Enterprises indexes climbed 0.3 percent, and those on the FTSE China A50 Index were up 0.1 percent in Singapore. Kospi index futures in Seoul were little changed.

Thailand also reports on car sales Thursday and Hong Kong issues data on trade. An update on Indonesian money supply is due.

Source: Bloomberg

S&P 500 Closes Little Changed Amid Data as Energy Shares Retreat

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U.S. stocks closed little changed in light pre-holiday trading, with equities hovering near three-week highs as investors weighed mixed economic data and weakness in commodities.

The Standard & Poor’s 500 Index roamed in a narrow range for a third day, following the index’s strongest week this year. Declines in energy and raw-materials shares were offset as Pfizer Inc. climbed 2.8 percent to lead health-care companies higher. Macy’s Inc. gained 1.9 percent to pace an increase among a group of retailers, which rose for the seventh time in eight days.

The S&P 500 fell less than 0.1 percent to 2,088.92 at 4 p.m. in New York, with the gauge holding in its tightest intraday range in six months. This was the week’s final full trading session as U.S. markets will be closed Thursday in observance of the Thanksgiving Day holiday, and equity markets close at 1 p.m. on Friday.

A report today showed orders for U.S. business equipment climbed more than forecast in October, indicating steady domestic demand is encouraging corporate investment even as global sales waver. Separate data showed household spending rose less than forecast in October, while income gains accelerated.

Source: Bloomberg

Yen Rebound Hits Japan Stock Futures as Syria Angst Buoys Havens

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Japanese index futures signaled losses amid a revival in the yen as a quarrel between Turkey and Russia over the downing of a warplane stoked concern over geopolitical tensions, fueling demand for haven assets.

Japan’s currency held gains against most major peers Wednesday after Russian President Vladimir Putin said the shooting down of his country’s plane by Turkish forces near their border with northeastern Syria would have “serious consequences.” Nikkei 225 Stock Average futures fell with Australian and New Zealand shares, even after U.S. stocks erased their declines to end last session up 0.1 percent. Gold maintained Tuesday’s gains, while U.S. oil was close to $43 a barrel amid the renewed focus on Middle East tensions.

Mounting tensions in the Middle East have helped crude recover from its lowest settlement since August.

While European stocks sold off on the warplane news, the impact was more limited in the U.S. as political analysts in Russia and Europe said a major escalation seems unlikely given the risks associated with any conflict between Russia and Turkey, a NATO member. The downing of the plane comes as Brussels remains on the highest-level terror alert amid what officials have called credible terrorist threats and after the U.S. State Department issued a global warning for Americans. Anxiety over a divergence in U.S. and global central bank policy as soon as next month is also keeping investors on edge.

Nikkei 225 futures were bid for 19,890 in the Osaka pre-market, down from 19,960 at their close in Japan Tuesday as the yen traded little changed at 122.52 per dollar, following last session’s 0.3 percent advance. Australia’s S&P/ASX 200 Index was down 0.2 percent as of 8:53 am. in Tokyo, and the S&P/NZX 50 Index lost the same amount from a record high in Wellington.

Source : Bloomberg

Dollar Falls for First Time in 3 Days on Consumer Sentiment Drop

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The dollar fell for the first time in three days after data showed consumer confidence unexpectedly declined in November to the lowest level in more than a year.

The U.S. currency weakened against most of its major peers as investors look past the Thanksgiving holiday week for fresh evidence that the Federal Reserve is ready to raise interest rates in December. Fed Chair Janet Yellen will speak Dec. 2, before a European Central Bank meeting and U.S. payroll report on the same week. The yen rose after Turkey shot down a Russian warplane near the Syrian border, boosting demand for the safest assets.

The Bloomberg Dollar Spot Index, which tracks the currency versus 10 major peers, fell 0.3 percent to 1,230.41 as of 3:33 p.m. in New York. The gauge has rallied 1.7 percent in November, set for the biggest monthly advance since July.

Source: Bloomberg

Topix Falls First Time in Six Days as Syria Tension Boosts Yen

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Japanese stocks fell as growing military tension between Turkey and Russia drove the yen higher, damping the earnings outlook for exporters. Airlines led losses, while commodity producers gained.

The Topix index dropped 0.5 percent to 1,597.80 as of 9:01 a.m. in Tokyo, headed for its first loss in more than a week. The Nikkei 225 Stock Average lost 0.5 percent to 19,833.35, falling from a three-month high. The yen traded at 122.50 per dollar after strengthening 0.3 percent Tuesday following Turkey’s downing of a Russian fighter jet that it claims was violating its airspace.

Turkey shot down the plane near its border with northwestern Syria early Tuesday, drawing an angry rebuke from Russian President Vladimir Putin and marking the first direct clash between foreign powers embroiled in the Syrian civil war. Oil prices jumped and the yen climbed.

Source : Bloomberg

U.S. Stocks Near Two-Week High as Crude Gains on Syria Tension

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Stocks recovered early losses, while Treasuries gave up their gains amid signs that Russia’s response to Turkey’s downing of a warplane near its border with Syria won’t include the military.

The Standard & Poor’s 500 Index closed up 0.1 percent near its highest level since Nov. 6 after Russian President Vladimir Putin stopped short of threatening a military response to the incident. European stocks slipped as the first clash of foreign powers embroiled in the Syrian civil war sparked concern tensions will escalate. Gold gained for the first time in three sessions, as oil rallied with copper following a base metals rout. The dollar retreated.

Financial-market moves in response to the downed warplane were contained as political analysts in Russia and Europe said a major escalation seems unlikely given the risks associated with any conflict between Russia and a NATO member. The incident comes as Brussels remains on the highest-level terror alert amid what officials have called credible terrorist threats and after the U.S. State Department issued a global alert for Americans.

The geopolitical tensions somewhat overshadowed U.S. data Tuesday that indicated the economy expanded at a faster pace in the third quarter than previously reported, fueling bets that the Federal Reserve will raise key interest rates next month. Treasuries pared gains as the odds for an increase at the Fed’s December meeting rose to 74 percent.

The S&P 500 rose to 2,089.14 by 4 p.m. in New York, after falling as much as 0.8 percent earlier in the session. The index is coming off its best week of 2015 and has rallied 12 percent from its August low, though gains have stalled about 2 percent from the May record.

Source: Bloomberg

European Shares Fall as Tension Grows After Russian Jet Downed

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European shares dropped to one-week lows on Tuesday as mounting geopolitical tensions following the downing of a Russian warplane near the Syrian border pushed investors out of risky assets like equities.

Travel stocks were among the hardest hit following a U.S. travel warning, while sentiment was also depressed by disappointing updates from companies such as Zodiac Aerospace .

The pan-European FTSEurofirst 300 index closed down 1.3 percent after falling by as much as 2 percent. Last week the index touched a three-month high on ECB monetary stimulus hopes.

The STOXX Europe 600 Travel and Leisure index, was the top sectoral decliner in Europe. Its 2.3 percent fall came after the U.S. State Department issued a global alert for Americans planning to travel following deadly attacks in France and Mali, citing "increased terrorist threats".

Source: Reuters

Gold Holds Near Five-Year Low on Expectations for Higher Rates

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Gold held a second day of declines as investors continued to expect an increase in U.S. borrowing costs by the end of the year, cutting the appeal of bullion which doesn’t pay interest.

Metal for immediate delivery was at $1,070.25 an ounce at 8:43 a.m. in Singapore from $1,069.18 on Monday, according to Bloomberg generic pricing. Prices fell to $1,064.55 on Nov. 18, the lowest since February 2010.

Federal Reserve policy makers are widely expected to increase the federal funds rate for the first time since 2006 when they meet in Washington Dec. 15-16, pushing up the dollar and pressuring gold. The chances of a rate rise next month are 74 percent, up from 50 percent at end-October, futures data show.

Spot silver was little changed after slumping to the lowest since August 2009 on Monday.

Source: Bloomberg

Dollar hits 7-month high vs. euro on December rate-hike expectations

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The dollar rose to its highest level against the euro since mid-April Monday after hawkish comments from San Francisco Federal Reserve President John Williams over the weekend reiterated the case for raising interest rates in December.

The euro traded at $1.0626 late Monday, compared with $1.0649 late Friday in New York. The shared currency traded as low as $1.0593 early in the session, its lowest level since mid-April, according to FactSet data.

The ICE U.S. Dollar Index a measure of the dollar’s strength against a basket of six rival currencies, rose 0.2% to 99.7880.

The British pound traded at $1.5110 late Monday, its weakest level in two weeks. That’s compared with $1.5192 late Friday.

The dollar rose to ¥122.88, compared with ¥122.77 late Friday

Source: MarketWatch

Asia Stocks Drop as Tumbling Commodity Prices Weigh on Producers

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Asian stocks fell as tumbling commodity prices dragged raw-materials shares lower, with BHP Billiton Ltd. on course to close at the lowest since 2008.

The MSCI Asia Pacific Index lost 0.1 percent to 134.16 as of 9:00 a.m. in Tokyo, as Japanese markets opened after a holiday. Material shares led losses among the regional measure’s 10 industry groups. The increased likelihood of a Federal Reserve interest-rate increase this year is sending the dollar higher, making industrial metals more expensive for buyers holding other currencies. Copper fell below $4,500 a metric ton for the first time in six years and nickel touched the lowest in more than a decade. U.S. crude rose back above $42 per barrel after Saudi Arabia pledged to help stabilize markets.

Australia’s S&P/ASX 200 Index slipped 0.4 percent. BHP Billiton fell 1.7 percent in Sydney, the biggest drag on the regional benchmark gauge. Rio Tinto Group lost 1.1 percent.

Source: Bloomberg

Japan Stocks Fall as Investors Weigh Commodity Slump, Stimulus

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Japanese stocks slipped after trading resumed after a holiday, with investors weighing slumping commodity prices with expectations for economic stimulus. Airlines led losses and paper makers gained.

The Topix index lost 0.2 percent to 1,600.28 as of 9:04 a.m. in Tokyo, paring last week’s gain of 1.1 percent. The Nikkei 225 Stock Average dropped 0.1 percent to 19,857.34, after closing on Friday closing at the highest level since Aug. 20. U.S. stocks retreated on Monday amid a slump in commodity prices after capping the best week of the year on Friday. The world’s biggest economy reports on third-quarter growth on Tuesday.

Prime Minister Shinzo Abe announced a plan in September to grow the Japan’s GDP to 600 trillion yen, without specifying a timeline. The government will outline new steps to stimulate the economy by the end of November, the Asahi newspaper reported, including plans to support pensioners, lower the cost to buy energy-efficient homes and increase the minimum wage.

Copper futures held losses near a more than six-year low after the metal slid last session with nickel, which touched its lowest price in more than a decade concern over a glut in supply and as the greenback extended gains.

E-mini futures on the Standard & Poor’s 500 Index were little changed. The underlying gauge slipped 0.1 percent Monday as expectations the Federal Reserve will soon raise U.S. interest rates boosted the dollar, sending commodity producers and energy shares lower.

Source: Bloomberg

U.S. Stocks Slip Amid Drag From Pfizer Deal, Technology Shares

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U.S. stocks slipped following the Standard & Poor’s 500 Index’s best weekly rally this year, as gains in consumer companies were overshadowed by a retreat in Allergan Plc and Pfizer Inc. amid their record $160 billion merger deal.

Allergan and Pfizer slipped more than 2.6 percent. Electronic Arts Inc. fell 4.8 percent as GameStop Inc. said sales of the video-game maker’s Star Wars: Battlefront were weaker than expected. Tyson Foods Inc. gained 10 percent after boosting its dividend and its profit outlook was better than some analysts expected. Kellogg Co. rallied the most in almost a year after an analyst upgrade.

The S&P 500 fell 0.1 percent to 2,086.59 at 4 p.m. in New York, after rising 3.3 percent last week, the most since December. The Dow Jones Industrial Average lost 31.13 points, or 0.2 percent, to 17,792.68. The Nasdaq Composite Index declined 0.1 percent. The Russell 2000 Index increased 0.4 percent, bolstered by gains in health-care and consumer discretionary shares. About 6.2 billion shares traded hands on U.S. exchanges 17 percent below the three-month average.

Source: Bloomberg

Oil Slides as Venezuela Sees Mid-$20 Crude If OPEC Doesn't Act

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Oil extended its decline as Venezuela predicted prices may drop as low as the mid-$20s a barrel unless the Organization of Petroleum Exporting Countries takes action to stabilize the market.

January futures fell as much as 1.1 percent in New York after front-month prices slid 0.9 percent last week. Saudi Arabia and Qatar are considering Venezuela’s proposal for an equilibrium price of $88 a barrel, Venezuelan Oil Minister Eulogio Del Pino told reporters Sunday in Tehran. OPEC should make room for increased Iranian crude production within its ceiling of 30 million barrels a day, the nation’s Oil Minister Bijan Namdar Zanganeh said.

Oil has slumped about 45 percent the past year amid speculation a global glut with persist as OPEC continues to pump above its collective quota. The 12-member group meets Dec. 4 in Vienna to discuss the production ceiling as Iran signals its intention to boost output by 1 million barrels a day within five to six months of economic sanctions being removed.

West Texas Intermediate for January delivery dropped as much as 47 cents to $41.43 a barrel on the New York Mercantile Exchange and was at $41.59 at 8:41 a.m. Hong Kong time. The December contract expired Friday after declining 0.4 percent to close at $40.39, the lowest settlement since Aug. 26. The volume of all futures traded was about 43 percent above the 100-day average.

Brent for January settlement was 10 cents lower at $44.56 a barrel on the London-based ICE Futures Europe exchange. The contract rose 48 cents to $44.66 Friday. The European benchmark crude traded at a premium of $3 to WTI.

Source: Bloomberg

Gold Declines as Fed Williams Spurs Rate Increase Speculation

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Gold fell to extend five weeks of losses after John Williams, president of the Federal Reserve Bank of San Francisco, said that there was a strong case for a December rate rise should economic data hold up.

Bullion for immediate delivery retreated as much as 0.4 percent to $1,074.11 an ounce and traded at $1,075.27 at 8:45 a.m. in Singapore, according to Bloomberg generic pricing. Prices lost 0.5 percent last week after dropping on Nov. 18 to $1,064.55, the lowest since February 2010.

Bullion lost 9.2 percent this year as expectations for a higher U.S. rates damped the allure of the metal which doesn’t pay interest. Most economists in a Bloomberg survey and traders of federal funds futures expect lift-off next month from near-zero, where the bank’s key lending rate has been since 2008. Money managers are holding a net-short position in the metal for first time since August as long wagers shrunk to the smallest in seven years.

The likelihood of higher rates by year-end is 68 percent, up from 50 percent at the end of October, futures data show. The U.S. central bank’s policy-setting Federal Open Market Committee will convene in Washington on Dec. 15-16.

Spot silver and palladium fell, while platinum was little changed.

Source: Bloomberg

Produsen Komoditi Asia Jatuh Dengan Saham Konsumen Naik

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Saham komoditas Asia menurun sementara saham konsumen naik, meninggalkan indeks ekuitas regional sedikit berubah setelah reli pekan lalu.

Pasar di Korea Selatan dan Australia naik tipis sementara pasar di Jepang ditutup untuk liburan. MSCI Asia Pasifik kecuali Indeks Jepang sedikit berubah di level 420,55 pada pukul 08:26 pagi waktu Hong Kong, sebelum pasar Cina dibuka, setelah naik 2,4 persen minggu lalu.

Dengan suku bunga berjangka yang sekarang memprediksi probabilitas 68 persen bahwa Federal Reserve akan menaikkan suku bunga AS bulan depan dan Presiden Bank Sentral Eropa Mario Draghi mengisyaratkan ia akan segera meningkatkan stimulus, investor akan mencermati rilis data ekonomi untuk menilai perbedaan kebijakan moneter global.

John Williams, Presiden Federal Reserve Bank of San Francisco, mengatakan pada akhir pekan bahwa ada "kasus yang kuat" untuk kenaikan suku bunga Desember, sehari setelah rekannya di St Louis Fed, James Bullard, mengatakan laju untuk setiap kenaikan akan bergantung kepada data. Komentar itu muncul setelah Draghi mengatakan pejabat ECB "akan melakukan apa yang harus mereka lakukan" untuk meningkatkan pertumbuhan harga, melemahnya euro dan memicu kenaikan untuk obligasi tempo jangka pendek Jerman. (sdm)

Sumber: Bloomberg

Gold Holds Gain as Fed Done Everything to Prepare Markets

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Gold held an advance from a five-year low as Federal Reserve Vice Chairman Stanley Fischer said that U.S. policy makers have done their best to prepare international markets for the first interest rate increase since 2006.

Bullion for immediate delivery was at $1,081.52 an ounce at 8:17 a.m. in Singapore from $1,082.21 on Thursday, when prices gained 1.1 percent as the dollar fell, according to Bloomberg generic pricing. This week, the metal remains 0.2 percent lower after dropping on Wednesday to $1,064.55, the lowest since February 2010.

Bullion investors are zeroing in on when higher U.S. borrowing costs are likely to start rising as the metal doesn’t pay interest. The U.S. central bank, which has held rates near zero since 2008, is contemplating lifting them as the job market heals and officials gain confidence that inflation will accelerate toward the Fed’s 2 percent goal. Policy makers next meet Dec. 15-16.

The likelihood of higher rates by year-end is 68 percent, up from 50 percent at the end of October, futures data show. Fischer said Thursday the Fed has “done everything” it can to avoid surprising markets and governments when it moves.

Source: Bloomberg

Oil Falls to Three-Month Low as U.S. Supply Gain Worsens Glut

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Oil dropped to the lowest level in almost three months as government data showed U.S. crude inventories rose to the highest for this time of year since 1930.

Crude fell 0.5 percent in New York after dipping below $40 a barrel Wednesday for the first time since August. Stockpiles rose by 252,000 barrels last week, keeping supplies more than 100 million barrels above the five-year seasonal average, according to the Energy Information Administration. U.S. refineries processed more oil as they ended seasonal maintenance.

Oil has slumped about 45 percent in the past year amid speculation the global glut will persist as the Organization of Petroleum Exporting Countries continues to pump above its collective quota and Russian output rises to a post-Soviet era high. A warmer-than-average winter could weaken heating-fuel demand enough to trigger a drop in the price of crude to $20 a barrel, according to Goldman Sachs Group Inc.

West Texas Intermediate for December delivery, which expires Friday, fell 21 cents to settle at $40.54 a barrel on the New York Mercantile Exchange. It’s the lowest close since Aug. 26. The more-active January contract dropped 23 cents to $41.72.

Brent for January settlement rose 4 cents to end the session at $44.18 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude closed at a $2.46 premium to January WTI.

Source : Bloomberg

Aussie to Real Defy Commodity Rout as Fed Defangs Rate Increase

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Commodity currencies including the Australian dollar, South Africa’s rand and the Brazilian real are surging as traders focus on the potential for a gradual cycle of U.S. interest-rate increases and ignore a rout in raw material prices.

New Zealand’s dollar led gains on Thursday, when the greenback fell against its 16 major peers as minutes of the Federal Open Market Committee’s October meeting signaled a shallow path for any rate increases next year. The Aussie is poised for back-to-back weekly advances, with traders paying the smallest premium on options to protect against weakness in the currency in more than a year even as iron ore, Australia’s chief export, dropped to a four-month low.

The Aussie traded at 71.87 U.S. cents as of 9:18 a.m. in Tokyo from 71.94 on Thursday, poised for a 0.8 percent advance this week. New Zealand’s dollar fetched 65.59 U.S. cents after climbing 1.5 percent to 65.66 in the previous session. The Bloomberg Dollar Spot Index, which tracks the greenback versus 10 peers, was little changed at 1,228.70 after declining 0.7 percent on Thursday, the biggest drop since Oct. 14.

Source: Bloomberg

Asian Stocks on Course for Biggest Weekly Advance in Six Weeks

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Asian stocks pared their biggest weekly advance in six weeks, with Japanese shares dragged lower by a stronger yen.

The MSCI Asia Pacific Index declined 0.2 percent to 133.71 as of 9:01 a.m. in Tokyo, paring this week’s climb to 1.2 percent. The gauge posted the biggest daily jump in a month on Thursday amid optimism the Federal Reserve’s pace of tightening will be gradual, taking its rebound to 11 percent from a September low.

Japan’s Topix index slipped 0.4 percent, paring a fifth week of gains, as the yen held Thursday’s 0.6 percent advance. Governor Haruhiko Kuroda, who unleashed unprecedented monetary stimulus at the Bank of Japan in 2013 and doubled down on it last year, is done expanding his efforts, according to an increasing number of economists. He is due to speak on Friday.

Australia’s S&P/ASX 200 Index gained 0.1 percent and New Zealand’s S&P/NZX 50 Index advanced 0.6 percent. South Korea’s Kospi index added 0.1 percent. Futures on Hong Kong’s Hang Seng Index rose 0.1 percent and those on the Hang Seng China Enterprises Index added 0.2 percent.

Source: Bloomberg

Japanese Stocks Pare Weekly Rally as Stronger Yen Hits Exporters

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Japanese stocks fell, with the Topix index dropping for the first time in four days, as exporters slumped on a stronger yen with carmakers leading declines.

The Topix lost 0.4 percent to 1,594.31 as of 9:00 a.m. in Tokyo, trimming its advance for the week to 0.5 percent. About nine shares fell for seven that rose. The yen traded at 122.88 per dollar after gaining 0.6 percent on Thursday.

The Nikkei 225 Stock Average slid 0.4 percent to 19,773.78. The measure closed at its highest level since Aug. 20 on Thursday as it headed for a fifth straight weekly gain. The gauge has risen 13 percent this year, while still short of a high in June before China’s shock devaluation of the yuan roiled global markets.

E-mini futures on the Standard & Poor’s 500 Index lost 0.1 percent. The underlying gauge slipped 0.1 percent Thursday, after fluctuating throughout the day, as a profit warning from UnitedHealth Group Inc. led to a slump in the health-care sector and energy producers followed oil prices lower.

Source: Bloomberg        

Gold Holds Near Five-Year Low as Fed Minutes Bolster Rate View

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Gold remained near its five-year low after minutes from the Federal Reserve’s last meeting reinforced the outlook for an interest-rate increase next month.

Bullion for immediate delivery rose 0.3 percent to $1,073.75 at 8:18 a.m. in Singapore, according to Bloomberg generic pricing. The metal tumbled to $1,064.55 on Wednesday, the lowest since February 2010.

Gold is headed for a third annual loss on rising expectations that U.S. growth will lead policy makers to raise borrowing costs, curbing the appeal of gold because it doesn’t pay interest. In the statement following their October meeting, Fed policy makers made it clear that they’d consider a rate rise at their next meeting over Dec. 15-16. Central bankers stressed that “it may well become appropriate” to raise the benchmark lending rate in December, according to the minutes released Wednesday.

The Bloomberg Dollar Spot Index, which tracks the greenback versus 10 peers, retreated 0.2 percent on Thursday after reaching the highest level in more than a decade the previous day. Bullion, which tends to move counter to the dollar, is 9.2 percent lower in 2015 versus a dollar gain of 9.1 percent.

Source: Bloomberg

Oil Trades Near Two-Month Low After U.S. Crude Supplies Increase

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Oil was little changed in New York after falling below $40 a barrel for the first time since August as producers’ output swelled global inventories to a record.

U.S. crude stockpiles climbed to 487.3 million barrels last week, the highest for this time of year since 1930, government data show. Oil inventories have expanded to almost 3 billion barrels because of growing output in OPEC and elsewhere, the International Energy Agency said in a report on Friday.

Crude has dropped by almost half in the past year as the Organization of Petroleum Exporting Countries pumped above its collective quota and Russian output rose to a post-Soviet high, outpacing demand growth. Iran is pushing to regain oil sales lost to sanctions after agreeing in July to accept limits on its nuclear work in return for market access.

WTI for December delivery gained 8 cents to settle at $40.75 a barrel on the New York Mercantile Exchange. Futures dropped as much as 1.9 percent to $39.91 earlier, the lowest intraday price since Aug. 27. The volume of all futures traded was 21 percent above the 100-day average.

Brent for January settlement rose 57 cents, or 1.3 percent, to end the session at $44.14 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude closed at a $2.19 premium to January WTI.

Source: Bloomberg

Asian Stocks Rise on Fed Minutes as Investors Await BOJ Decision

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Asian stocks rose, following a rally in U.S. shares, after minutes from the most recent Federal Reserve meeting showed policy makers’ faith in the world’s biggest economy, with officials saying the pace of any rate increases will be gradual.

The MSCI Asia Pacific Index advanced 0.7 percent to 132.47 as of 9:02 a.m. in Tokyo. Through Wednesday, the gauge rallied 8.6 percent from a two-year low in September as investors prepare for the first U.S. interest-rate increase since 2006. In the statement following their October gathering, Fed policy makers made it clear that a rise would be considered at the Dec. 15-16 meeting.

Japan’s Topix index advanced 0.9 percent after the yen weakened against the dollar for a third day on Wednesday. All 41 economists in a Nov. 13-17 Bloomberg poll predict no change at the Bank of Japan’s policy meeting ending on Thursday. Forty-six percent of respondents don’t expect the BOJ to boost its current pace of asset purchases -- up from 33 percent last month.

Source: Bloomberg

Japanese Stocks Advance on Weaker Yen Before BOJ Policy Decision

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Japanese shares advanced, led by airlines and insurers, after the yen slid to a three-month low against the dollar and as investors awaited a central bank policy decision.

The Topix index gained 0.9 percent to 1,600.41 at 9:01 a.m. in Tokyo, climbing above 1,600 for the first time since August. The yen traded at 123.50 per dollar. U.S. stocks jumped Wednesday as the Federal Reserve published minutes of its October meeting, which stressed the pace of any rate increases will be gradual. Economists expect the Bank of Japan to maintain its stimulus at the conclusion of its policy meeting Thursday.

The Nikkei 225 Stock Average added 1 percent to 19,842.81 Thursday.

Fed officials inserted language into their October statement to stress that “it may well become appropriate” to raise borrowing costs in December and largely agreed that the pace of increases would be gradual, minutes of their meeting showed.

Source: Bloomberg

Asia Index Futures Signal Rally on Fed Optimism; Yen Holds Drop

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Equity-index futures signaled gains across Asia after Federal Reserve meeting minutes reaffirmed policy makers’ faith in the world’s biggest economy and stressed the pace of any rate increases will be gradual. The yen held near a three-month low against the dollar.

Contracts on stock gauges from Sydney to Seoul and Tokyo advanced, following the Standard & Poor’s 500 Index’s biggest jump in almost a month. Japan’s currency was at 123.62 per dollar, down 2 percent this month, before a decision from the nation’s central bank, with economists expecting no change to policy settings. Fed officials inserted language into their October statement to stress that “it may well become appropriate” to raise borrowing costs in December and largely agreed that the pace of increases would be gradual, minutes of their meeting showed.

Asian stocks and currencies have slipped this year amid investor concern about whether the U.S. economy is strong enough to withstand what would be the first rate increase since 2006, and the impact such a move would have on the global growth outlook. Economic reports since the Fed refrained from a rate rise in October have been encouraging, with payrolls logging the biggest gain this year and unemployment falling to 5 percent. There’s a 66 percent probability that policy makers will move in December, according to futures data compiled by Bloomberg.

Futures on South Korea’s Kospi 200 Index climbed 0.6 percent in most recent trading, as contracts on Hong Kong’s Hang Seng and Hang Seng China Enterprises indexes advanced at least 0.4 percent. Those on the FTSE China A50 Index were up 0.6 percent.

New Zealand’s S&P/NZX 50 Index, the first stock gauge to start trading each day in the Asia-Pacific region, added 0.1 percent.

Japanese index futures signaled more gains for the nation’s equities, with contracts on the Nikkei 225 Stock Average gaining 0.7 percent in Osaka.

Governor Haruhiko Kuroda, who unleashed unprecedented monetary stimulus at the Bank of Japan in 2013 and doubled down on it last year, is done expanding his efforts, according to an increasing number of economists. Forty-six percent of respondents in a Nov. 13-17 Bloomberg poll didn’t expect the BOJ to boost its current pace of asset purchases -- up from 33 percent last month. All 41 economists predicted no change at the BOJ’s policy meeting ending on Thursday.

Source: Bloomberg