The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
Buildings in the Makati Central Business District
Economic Updates
Monthly Recap: BSP to outpace the Fed in rate cuts 
DOWNLOAD
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
DOWNLOAD
View all Reports
Metrobank.com.ph Contact Us
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investing for Beginners: Following your PATH
  • On government debt thresholds: How much is too much?
  • Philippines Stock Market Outlook for 2022
  • No Relief from Deficit Spending Yet

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph Contact Us
Access Exclusive Content Login to Wealth Manager
Search
The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
Buildings in the Makati Central Business District
Economic Updates
Monthly Recap: BSP to outpace the Fed in rate cuts 
May 29, 2025 DOWNLOAD
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
May 8, 2025 DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
May 8, 2025 DOWNLOAD
View all Reports
Currencies 3 MIN READ

All bow to the mighty dollar

April 1, 2024By Reuters
Related Articles
Gold steady as investors eye economic data December 22, 2022 Incoming Philippine finance secretary does not favor tax hikes to tackle debt May 27, 2022 Wall Street 'fear gauge' jumps to three-month high as stocks resume slide August 2, 2024

April 2 – Strong US manufacturing data on Monday ensured the second quarter of the year started with a bang in perhaps the two most important financial assets in the world – the dollar and US Treasuries – which should set the tone for Asia on Tuesday.

Bond yields jumped and the dollar spiked to its highest level since November as the ‘higher for longer’ Fed and US economic ‘soft landing’ narratives tightened their grip on fixed income and currency markets.

Curiously though, Wall Street held up reasonably well – the Dow fell 0.6% but the S&P 500 only shed 0.2% and the Nasdaq closed in the green. Just.

Could this resilience offset higher yields and a stronger dollar, and support risk appetite in Asia?

If not, a disappointing raft of Asian factory activity figures on Monday will be cited, along with the dollar’s ascent.

The greenback has built up a head of steam, breaking above 105.00 on an index basis for the first time this year and pushing the yen toward 152.00 per dollar back into potential Japanese intervention territory.

It looks like the dollar has momentum too, having weakened in only two of the last 13 sessions. US futures market data show that hedge funds have amassed their biggest net long dollar position since September 2022, most of which is against the yen.

Monday’s batch of Japanese economic indicators gave off mixed signals, and so offered the yen no clear path. But the US ISM activity data and another uptick in the Atlanta Fed’s GDPNow model estimate for Q2 growth certainly did.

Chinese markets started the week on the front foot, however, after a private survey showed Chinese manufacturing activity expanded at the fastest pace in 13 months in March, reinforcing surprisingly strong official survey data over the weekend.

Mainland Chinese blue chips rose 1.6% for their best day in a month, easily outperforming the MSCI Asia ex-Japan index which ended slightly lower, and Japan’s Nikkei which lost 1.4%.

Asia’s economic and corporate calendar on Tuesday is fairly light. The latest Australian and Indian manufacturing purchasing managers index reports and South Korean consumer inflation are the pick of the bunch.

Economists polled by Reuters reckon monthly inflation in Asia’s fourth-largest economy slowed in March to 0.3% from 0.5%, and the annual rate held steady at 3.10%.

With inflation running well above the Bank of Korea’s 2% target, interest rates are likely to be kept at their 15-year high of 3.5% well into the second half of the year. Like many central banks in Asia, the BOK will probably for the Fed to ease US monetary policy before moving.

Here are key developments that could provide more direction to markets on Tuesday:

– Australia manufacturing PMI (March)

– India manufacturing PMI (March)

– South Korea consumer inflation (March)

(By Jamie McGeever; Editing by Josie Kao)

 

This article originally appeared on reuters.com

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks
Others
Contact Us Privacy Statement Terms of Use
© 2025 Metrobank. All rights reserved.

Read this content. Log in or sign up.

​If you are an investor with us, log in first to your Metrobank Wealth Manager account. ​

If you are not yet a client, we can help you by clicking the SIGN UP button. ​

Login Sign Up