Saturday, March 2, 2024
HomeeconomyGet ready Asia, another busy week in store

Get ready Asia, another busy week in store

A busy week ahead starts with Asian markets digesting key weekend events: A widening in the Chinese yuan's trading band and exit polls showing Crimea has voted to join Russia in a move that could fuel risk aversion.

The key highlights of the week include Chinese foreign direct investment and house price data expected early in the week, the release minutes on Tuesday from the Reserve Bank of Australia's (RBA) last meeting and a central bank meeting in the Philippines on Thursday. Japan trade data is also expected in the week.

Outside Asia, focus is likely to fall on a two-day meeting of the U.S. Federal Reserve, which concludes on Wednesday. The Fed is seen moving ahead with a scaling back of its monetary stimulus, with another $10 billion "taper" of the bond-buying program to $55 billion a month.

(Read more: Fed meets amid market skittishness)

Lam Yik Fei | Bloomberg | Getty Images

"There's lots of uncertainty in the market on Ukraine," Deb Clarke, the global head of investment research at Mercer, said on CNBC, speaking about the implications of the weekend referendum in Crimea, which could exacerbate tensions between the West and Russia.

(Read more: Crimea vote over, now what between West, Russia?)

"Everyone's also concerned about China. We've had the yuan band widening at the weekend. We do see China as a concern and somewhere where there is risk…But the underlying fundamentals are still pretty strong," she added.

China's central bank on Saturday doubled the yuan's daily trading range to 2 percent.

- Advertisment -

Most Popular