Asian markets down; dollar bounces

by The Manila Times

Oct 08, 2022 12:09 am

HONG KONG: Asian markets fell and the dollar held an advance as the optimism that coursed through trading floors earlier this week gave way to nervousness ahead of a massive US jobs report later Friday that could determine Federal Reserve (Fed) rate hike plans.

Soft economic data out of Washington sent equities surging at the start of the week and dragged the greenback on hopes that the readings could allow the US central bank to pivot and slow down its strict monetary tightening program.

FLUCTUATING TRENDS Citizens shop on Central Street in Harbin, northeast China’s Heilongjiang Province, on Oct. 5, 2022. Asian markets fell and the dollar held an advance as the optimism that coursed through trading floors earlier this week gave way to nervousness ahead of a massive US jobs report later Friday, Oct. 7, 2022, that could determine Federal Reserve rate hike plans. XINHUA PHOTO

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