Asia stocks on edge for earnings, China data

Asia stocks on edge for earnings, China data FMTNews FMTBusiness

Analysts expect Chinese retail sales, industrial output, and GDP to exceed expectations given recent trade gains.

Resilience in core US retail sales and a jump in inflation expectations reported on Friday led investors to trim the amount of easing expected later this year to around 60 basis points . At least eight top Fed officials are speaking this week, including three governors, and could generate plenty of headlines to move the dial further.

“Overall, we expect an in-line quarter, but big cuts for the full-year,” BofA warned. “Our 2023 EPS estimate for the S&P 500 remains US$200, still 9% below consensus estimates.” Yet, the outlook has also turned more hawkish on the European Central Bank , sending German two-year yields surging 33 basis points over the week for the biggest increase since September.

The dollar has fared better on the yen as the Bank of Japan remains committed to its super-easy monetary policy, at least for now. That kept the dollar at 133.96 yen, after rallying 1.2% last week.

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