US dollar is stable against the euro, strengthening against the yen and the pound sterling on Friday.
The ICE-calculated index, which shows the dynamics of the dollar against six currencies (the euro, the Swiss franc, the yen, the Canadian dollar, the pound sterling and the Swedish krona), adds 0.03% during trading, the broader WSJ Dollar Index loses 0.02%.
The data of the US Department of Labor published the day before showed a weaker-than-expected slowdown in inflation. The CPI rose in September by 8.2% against the same month last year – the lowest rate in seven months. Experts polled by Trading Economics predicted, on average, a slowdown in inflation to 8.1% from 8.3% in August.
Meanwhile, core inflation, excluding the cost of food and energy (Core CPI) accelerated in September to the highest since August 1982 6.6% in annual terms from 6.3% a month earlier.
Published statistical data have strengthened investors in the opinion that the Federal Reserve System (Fed) will continue the rapid tightening of monetary policy. Now traders are waiting for a sharp rise in the rate of the US Central Bank at each of the two remaining meetings of this year, Bloomberg notes.
The euro/dollar pair is trading at $0.9781 compared to $0.9780 at the close of the previous session.
The US currency against the yen is 147.45 yen against 147.22 yen at the close of the market on Thursday.
The pound fell to $1.1322 from $1.1331 the day before.
British Treasury Secretary Kwazi Kwarteng left Washington, where he was meeting with representatives of the International Monetary Fund (IMF), a day earlier than planned. Experts believe that he may abandon part of the tax cuts he announced earlier in order to prevent an economic crisis in the country, the Financial Times writes.
The newspaper’s sources note that the IMF and finance ministers of several other countries recommended that he quickly abandon plans for tax cuts in order to avoid financial problems in the economy.
PJSC Interpipe Nyzhniodniprovsky Pipe Rolling Plant (NTZ, Dnipro) in January-June of this year posted a net loss of UAH 882.682 million against a net profit of UAH 163.581 million for the same period last year.
According to the interim report of the company, net income for this period decreased by 42.8% – to UAH 4.176 billion.
Retained earnings by the end of June 2022 amounted to UAH 2.951 billion.
In turn, the consolidated loss of Interpipe NTZ for January-June 2022 amounted to UAH 882.732 million (there was a profit of UAH 163.481 million).
According to the annual report for 2021, the company’s net loss amounted to UAH 486.412 million against a net profit of UAH 22.905 million for 2020. Income for 2021 amounted to UAH 8.226 billion (for 2020 – UAH 9.470 billion).
The group also published a report for January-March 2022, according to which the loss amounted to UAH 783.259 million, net income – UAH 1.075 billion.
The Estonian volunteer rescue association Paasteliit on Thursday handed over 10 mobile houses Containex as humanitarian aid to the State Emergency Service of Ukraine.
According to the press service of the Main Directorate of the State Emergency Service of Ukraine in Lviv region, these containers are adapted for living, each of them has a living and shower room, as well as a toilet. Heat is generated by air-type heat pumps.
“We are grateful to our colleagues for this valuable gift, as a long winter awaits us ahead, and, unfortunately, there are more than 7 million internally displaced persons in Ukraine and millions more living in territories where the enemy can destroy their homes at any moment. Thus, Ukrainian rescuers will be able to provide temporary warmth and shelter in the most critical areas,” the message says.
Latif Rashid on Thursday became the President of Iraq following a vote in Parliament, which marked the beginning of the formation of the Iraqi government – a year after the parliamentary elections in the country, Rudaw reports.
Rashid beat his opponent, former Iraqi President Barham Saleh, by 63 votes. In total, 162 deputies voted for Rashid.
Mohammed al-Sudani, who is running for the new prime minister, is expected to form a government within 30 days.
Previously, Rashid served as the Minister of Water Resources of Iraq, and was also a representative of the Patriotic Union of Kurdistan party.
Protests against corruption in Iraq caused early parliamentary elections in the country in October 2021. However, elected parliamentarians could not form a government due to disagreements between political blocs over the mechanisms for its formation.
The negative balance of Ukraine’s foreign trade in goods in January-August 2022 increased by 2.9 times compared to the same period in 2021 – to $5.421 billion from $1.895 billion, the State Statistics Service (Gosstat) reported on Thursday.
According to its data, the export of goods from Ukraine for the reporting period compared with January-August 2021 decreased by 30.8% – to $28.946 billion, imports – by 21.4%, to $34.367 billion.
The State Statistics Service clarifies that in August this year, compared to July 2022, the seasonally adjusted volume of exports increased by 0.1%, to $3.137 billion, and imports, by 1.3%, to $4.504 billion.
The seasonally adjusted foreign trade balance in August 2022 was negative and amounted to $1.367 billion, while in July 2022 it was also negative and amounted to $1.314 billion.
The State Statistics Service specified that foreign trade operations were carried out with partners from 227 countries of the world.
Stock indices of the countries of the Asia-Pacific region are confidently rising in trading on Friday after several days of decline this week.
The Hong Kong Hang Seng jumped 3.5% by 8:25 am. The indicator fell for six sessions in a row, after which it fell to its lowest point in the last 11 years. China’s Shanghai Composite index, meanwhile, added 1.8%.
In Hong Kong, the shares of biopharmaceutical companies are most actively rising in price: papers of Wuxi Biologics Inc. add 12.4%, Sino Biopharmaceutical (SPB: 1177) Ltd. – 8.2% and CSPC Pharmaceutical Group Ltd. – 6%.
In addition, the shares of real estate development companies are becoming leaders in the growth of quotations: Country Garden Services Holdings Co. Ltd. rises in price by 9%, Longfor Group Holdings Ltd. – by 5.7%.
Investors are also evaluating September data on changes in consumer and producer prices in China.
Consumer prices (CPI) rose 2.8% year-on-year last month after rising 2.5% in August, the National Bureau of Statistics (GSO) of the People’s Republic of China said. Analysts on average also expected growth to accelerate to 2.8%, according to Trading Economics. The rate of increase was the highest since April 2020.
Producer prices (PPI index) in China last month rose by 0.9% in annual terms – the lowest rate in 20 months. Analysts’ consensus forecast was for growth to slow to 1% in September from 2.3% in July. The PPI fell 0.1% on the previous month (-1.2% in August).
The value of the Japanese Nikkei 225 index by 8:30 Moscow time increased by 3.3%.
Shares of Asia’s largest clothing retailer Fast Retailing Co. jumped 8%. The company’s net profit for the fiscal year that ended on August 31 jumped 61%, while revenue jumped 7.9%. Fast Retailing expects operating income to increase by 18% in the current financial year.
The growth leaders of quotations are also securities of IT company NTT Data Corp. (+5.6%) and pharmaceutical Daiichi Sankyo Co. Ltd. (+5.5%).
The South Korean index Kospi added 2.3% by 8:40 Moscow time.
Quotes of securities of one of the world’s largest manufacturers of chips and electronics Samsung Electronics Co. grow by 2.2%, the value of automaker Kia Corp. increased by 1.2%.
The Australian S&P/ASX 200 rose 1.75%.
The capitalization of the world’s largest mining company BHP rose 2%, while shares of its rival Rio Tinto rose 1.1%.
