EUR/USD
1.14096
-0.016%
Gold
4122.08
0.396%
Oil
71.903
-0.150%
USD/JPY
162.306
0.134%
GBP/USD
1.33527
-0.043%
GBP/JPY
216.727
0.107%
Real-time News
Spot gold and silver prices continued to rise slightly, with spot gold surpassing the $4,100 mark. A quick overview of the pre-market prices of precious metals in both domestic and international markets is provided in this chart.On July 8th, Bank of Japan policy board member Toshiro Asada stated that he must see signs of demand-driven inflation before supporting an interest rate hike, but he also noted that the transmission of rising costs is "relatively fast," suggesting he might vote for a rate hike in the future. Asada made these remarks in his first interview since joining the policy board. He is a policy board member appointed by dovish Prime Minister Sanae Takaichi. The Bank of Japan raised interest rates to a 31-year high of 1% in June, and Asada was the sole dissenter on that decision. He stated that he voted against the rate hike because of the continued uncertainty surrounding the Middle East situation, which could impact output and employment. A key prerequisite for supporting future rate hikes is that Japan has the conditions to sustainably achieve its 2% inflation target. "Furthermore, I believe it is necessary to confirm that this target is achieved with the support of endogenous economic forces such as wage increases and demand expansion," he added, noting that these forces are currently insufficient to justify a rate hike. However, Asada stated that future decisions will depend on the economic conditions at that time. Although oil prices are falling and consumer inflation is slowing, the effects of previous oil price increases are being transmitted "relatively quickly" and could lead to a general rise in prices across various commodities.July 8 (Futures News) – According to foreign media reports, Chicago Board of Trade (CBOT) corn futures closed higher on Tuesday, with the benchmark contract rising 1.3%, mainly reflecting the potential for high temperatures in the Midwest to affect crop growth and a surge in international crude oil prices. International crude oil futures rose sharply on Tuesday, influenced by reports of attacks on ships near the Strait of Hormuz, which pushed up prices for soybeans and corn, widely used in biofuels. The latest weather models indicate that high temperatures are likely in the Midwest and Central Plains regions, lasting until mid-July, when most corn crops will be in pollination. An analyst stated that weather map data shows a strong heat wave expected in the Corn Belt from this weekend until July 15th. He added that crops in Europe have already been affected by the heat, increasing risk premiums in the corn market.Japans seasonally adjusted current account balance for May was 30.645 billion yen, below the expected 3.2167 trillion yen and the previous months 4.2111 trillion yen.Japans trade deficit in May was 6.9 billion yen, compared to a forecast of -221.9 billion yen and a previous figure of 395.7 billion yen.
