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February 4th - According to Sensor Towers store intelligence platform, 36 Chinese companies were among the top 100 global mobile game publishers in terms of revenue in January 2026, generating a total of $2.18 billion, accounting for 37.8% of the total revenue of the top 100 global mobile game publishers in that period. Tencent, thanks to the strong performance of its flagship products such as "Honor of Kings" and "Peacekeeper Elite," saw its mobile game revenue increase by 43% month-on-month, firmly retaining its title as the worlds highest-grossing mobile game publisher.On February 4th, Lazard CEO Peter Orszag stated at the "Wall Street Journal Invest Live" event that the Federal Reserve may not have cut interest rates at the end of last year. While the market generally believes inflation is declining, he expects inflation to unexpectedly rise this year. He added that artificial intelligence and high-income consumers could boost US economic growth, describing this momentum as "fragile but strong." He also pointed out that most of the impact of tariffs has not yet materialized, which could also push up inflation. He believes the Fed has fallen behind the curve and should not have cut rates at the end of last year. "If we are right," he said, "all of this has only further exacerbated inflation, led to further depreciation of the dollar, and steepened the yield curve."February 4th - During Asian trading hours, the Singapore dollar remained range-bound against the US dollar, but the prospect of the Federal Reserve maintaining high interest rates for an extended period could put pressure on it. Analysts at CIMBs Treasury and Markets Research Department noted in a report that given persistently high inflation, both Federal Reserve Governor Bowman and Richmond Fed President Barkin have signaled that further rate cuts may take longer. The analysts also mentioned that Barkin believes the Feds recent rate cuts have helped support the US labor market. FactSet data shows the US dollar was little changed against the Singapore dollar, trading at 1.2698.Goldman Sachs: Judging from the timing, most of the price fluctuations in January were driven by Western capital flows.On February 4th, Han Wenxiu, Deputy Director of the Central Financial and Economic Affairs Commission and Director of the Central Rural Work Leading Group Office, stated at a press conference held by the State Council Information Office that this years No. 1 Central Document makes specific arrangements for "implementing normalized and targeted poverty alleviation," and various supporting policies are being formulated and issued. Han Wenxiu stated that incorporating normalized poverty alleviation into the overall implementation of the rural revitalization strategy requires focusing on dynamic management of assistance recipients, ensuring precise and efficient assistance methods, stratifying assistance regions, and maintaining overall stability in assistance policies. Han Wenxiu emphasized that assistance policies must remain generally stable, avoiding abrupt changes or halts in fiscal investment, financial support, and resource allocation, and maintaining the stability of the scale of normalized central government assistance funds and the scale of provincial and municipal government investments.

Even as the BoJ vs. Fed Difference Remains in the Spotlight, USD/JPY Tracks Below 134.00 on Lackluster Yields

Alina Haynes

Apr 17, 2023 14:02

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As Monday begins in Tokyo, USD/JPY falls from its intraday high and stabilizes around 133.80. As a consequence, the Yen pair is unable to extend its previous day's gains due to lax market conditions preceding this week's key data/events. In addition to a paucity of significant data or events, USD/JPY traders have recently struggled with inconsistent triggers and sluggish returns.

 

The previous day, USD/JPY reached its highest level in a week as primarily positive US data dampened expectations for a policy shift and rate cut by the Federal Reserve (Fed) in 2023. Despite this, US retail sales decreased by 1.0% in March compared to the predicted -0.4% decline and February's -0.2% decline. As opposed to the 0.2% market consensus and previous reading, Industrial Production increased by 0.4% in the month in question. The preliminary result of the University of Michigan's (UoM) Consumer Confidence Index for April, which increased to 63.5 from 62.0 analysts' expectations and previous readings, was also encouraging. In addition, inflation forecasts for the next year increased from 3.6% in March to 4.6% in April, while inflation forecasts for the next five years decreased by 2.9% during the same month.

 

Previously, the USD/JPY pair increased due to hawkish Fed discussions. In an interview with Reuters on Friday, Raphael Bostic, president of the Atlanta Federal Reserve (Fed), stated that "recent developments are consistent with one more rate hike." According to Reuters, Fed Governor Christopher Waller discussed this topic and stated that additional rate hikes are necessary because the Fed has not made significant progress toward its inflation objective. In an interview with CNBC on Friday, Austan Goolsbee, president of the Federal Reserve Bank of Chicago, stated that he still needs to examine the statistics. The lawmaker said, "However, let's keep in mind that we've raised a lot of money; some of the delay may be reflected in today's retail sales number."

 

In contrast, the USD/JPY pair was able to maintain its strength due to the new Governor of the Bank of Japan (BoJ), Kazuo Ueda, who supports the Japanese central bank's easy-money policy.

 

Recent geopolitical tensions between China and the United States over Taiwan, as well as China's desire to collaborate with Russia to enhance regional and global security, have weighed on the USD/JPY pair and agitated the market.

 

S&P 500 Futures struggle to find a clear direction amidst these wagers following Wall Street's pessimistic close, as bond yields remain neutral despite weekly gains.

 

The preliminary readings of the US PMIs for April and the Japanese National Consumer Price Index (CPI) for March will be crucial to monitor going forward. The previously mentioned risk factors and central banker comments are also significant.


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