Asian shares slip, dollar reaches multi-week highs

MG News | February 27, 2023 at 09:43 AM GMT+05:00

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February 27, 2023 (MLN): Asian shares slipped on Monday as markets were forced to price in ever-loftier peaks for U.S. and European interest rates, slugging bonds globally and pushing the dollar to multi-week highs, as Reuters reported.

Investors are braced for more challenging U.S. data including the closely-watched ISM measures of manufacturing and services, the latter being especially important following January's unexpected spike in activity, it noted.

There are also at least six Federal Reserve policymakers on the speaking diary this week to offer a running commentary on the likelihood of further rate hikes, it added.

China has manufacturing surveys and the National People's Congress kicks off at the weekend and will see new economic policy targets and policies, as well as a reshuffling of government officials.

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