Stock Market
By Pankaj K
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Asian currencies bounced back Friday. But the week tells a different story as Middle East tensions sent oil prices through the roof and spooked traders across the region.
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The Japanese yen jumped 0.4% against the dollar, clawing back some ground after getting hammered earlier this week.
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The yuan's still nursing a 0.8% weekly loss though. Traders can't shake worries about what escalating Middle East chaos might do to global growth.
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South Korea's won posted a solid 0.5% gain today but faces the same weekly headwinds as its neighbors.
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Oil prices rocketed to two-month highs on supply disruption fears. Brent crude futures shot up 3% to hit $90 per barrel. West Texas Intermediate wasn't far behind, surging 3.
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India's rupee managed a modest 0.2% Friday gain.
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The rupee's weekly story is less cheerful - down 0.6% as rising oil prices slam India's trade balance.
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Thailand's baht rose 0.3% today but couldn't escape the regional weekly selloff pattern. Energy costs have been crushing the currency all week long.
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Central bank meetings are coming up fast, and everyone's watching. The Federal Reserve and other major banks have to figure out policy moves while oil prices go nuts and…
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Iran's position in global oil markets makes every development there crucial for world economies.
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Iran hasn't commented officially on oil supply concerns yet.
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The Bank of Japan meets next week, and investors want answers about how it'll handle current economic pressures.
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India's Finance Minister Nirmala Sitharaman spoke Friday about stabilizing the rupee amid volatile oil prices.
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Australia's Reserve Bank releases its quarterly monetary policy statement next Thursday. Market participants want to hear the central bank's take on rising energy costs hitting…
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The International Energy Agency warned about potential supply shortages if Iran's conflict escalates.
The Currency Analytics
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