EUR/USD 1.17118
-0.876%
Gold 5405.72
2.706%
Oil 72.949
8.595%
USD/JPY 156.968
0.510%
GBP/USD 1.33541
-0.911%
GBP/JPY 209.621
-0.406%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
March 2nd - Fighting in the Middle East has sparked concerns about potential major disruptions to global energy supplies, causing European natural gas prices to surge. European benchmark natural gas futures prices rose by as much as 25%, marking the largest single-day increase since August 2023. This followed the near-total halt of traffic in the Strait of Hormuz. This narrow waterway is a crucial global energy transport route, carrying approximately 20% of global liquefied natural gas (LNG) exports. Oil prices also rose sharply. The current situation could trigger the most severe shock to the natural gas market since the Russia-Ukraine conflict. Although Asian countries purchase the majority of LNG shipped from the Middle East, any supply disruptions will intensify competition for alternative supplies, thereby pushing up global natural gas prices, including in Europe.Swiss National Bank: In light of the international situation, we are better prepared to intervene in the foreign exchange market to curb the rapid and excessive appreciation of the Swiss franc.Jun Mimura, Japans top foreign exchange official: My meeting with the Prime Minister showed that the political momentum for insisting on a temporary reduction in food sales tax as part of the election platform is quite strong.British Foreign Secretary Cooper: 102,000 Britons have responded to our proposal and registered their whereabouts in the Middle East.March 2 – Foreign Ministry Spokesperson Mao Ning held a regular press conference on March 2. Regarding the joint US-Israeli attack on Iran, did China contact the US beforehand or during the operation? "I can tell you that China was not notified in advance of the US military operation," Mao Ning said.

As investors await fresh cues from the US ISM PMI, the USD/JPY pair fails to surpass 131.00

Alina Haynes

Jan 03, 2023 15:26

As the USD/JPY pair strives to surpass the critical level of 131.00 in the early Tokyo session, it is facing increasing resistance. The asset is trading near its 12-day low, therefore investors are likely to maintain a state of apprehension.

 

Due to the market's need for sufficient time to settle after the holiday fervor and long weekend, the risk profile is still uncertain. As the U.S. equity market awaits the International Monetary Fund's economic estimates, S&P500 futures perform modestly (IMF).

 

On a CBS Sunday morning news broadcast, IMF Managing Director Kristalina Georgieva warned, "2023 will be a difficult year for the majority of the global economy, as the three engines of global expansion — the United States, Europe, and China – may all experience declining activity."

 

In the future, the sentiment of the market will be reflected in the trading volume of the US Dollar Index (DXY). The ISM Manufacturing PMI data from the United States will be the most crucial element on the USD Index. Predictions indicate that the US ISM Manufacturing PMI will increase to 49.6 from 49.0 in the most recent report. In addition, investors will monitor the New Orders Index, which provides insight into future demand in the United States. The economic data is projected to increase to 48.1, up from 47.2 in the previous release.

 

A continuation of Tokyo's ultra-lax monetary policy could have an impact on the Japanese Yen. The Bank of Japan (BOJ) has already established inflation targets close to 2% for fiscal years 2023 and 2024, necessitating further increases in pay rates and a steady flow of market liquidity to underpin aggregate demand.

Suggestion