Asian Stocks to Rise as Tech Lifts Wall Street: Markets Wrap
Equities in Asia climbed and the yen rallied, ahead of crucial US jobs data due later Friday.
Equities in Asia climbed and the yen rallied, ahead of crucial US jobs data due later Friday.
Oil headed for its biggest weekly decline since February on signs of weakening demand, fueling speculation that OPEC+ will prolong output cuts to shore up prices.
Japan is threatening to derail one of the most profitable currency bets this year: carry trades borrowing the yen to invest in emerging-market currencies.
Macquarie Group Ltd.’s earnings missed estimates as a plunge in profit from its commodities and global markets business dragged on the Australian firm’s performance.
By one measure, according to Point72’s Sophia Drossos, Japan’s intervention to prop up the yen has achieved a key objective: Preventing the market from piling into lopsided bets against the currency.
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