HONG KONG : Asian shares started the week with gains and the dollar was not far off two-week lows after U.S. Federal Reserve Chairman Jerome Powell struck a more dovish tone than some investors expected in long-awaited speech on Friday.
Investors had been waiting to see whether Powell, who was speaking at a symposium in Jackson Hole, Wyoming, would give a clear indication of his views on timing of the central bank's tapering of asset purchases or hiking interest rates to start removing monetary stimulus. "A strong payrolls print could instigate a debate for a September tapering start," Rodrigo Catril, senior FX strategist at NAB, said in a note.
Investors in China, in contrast, are watching data this week to see whether they will indicate policymakers are more likely step up easing measures. "With slowing growth momentum and dovish signals from the meeting this week, we expect more easing, but still at a measured pace"
Source: Energy Industry News (energyindustrynews.net)
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