EUR/USD 1.18208
0.563%
Gold 4981.50
0.923%
Oil 61.059
2.474%
USD/JPY 155.813
-1.645%
GBP/USD 1.36362
0.994%
GBP/JPY 212.474
-0.652%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On January 24th, according to Dongan Power, Gu Jie, Vice President of XPeng Motors, led a core team to visit Dongan Power. Zhao Xingtian, Deputy General Manager of Dongan Power, along with heads of R&D, marketing, quality, and sales departments, accompanied them during the meeting. The two sides engaged in in-depth exchanges and reached a consensus on core issues such as the advancement of mass production projects and the development of next-generation engine technology.January 24th - Public discontent in Denmark over the USs demand for Greenland is spreading to supermarket shelves, and a mobile app that "helps" Danish consumers identify the country of origin of goods so they can refuse American products has recently become very popular in the country. Reportedly, an app called UdenUSA (meaning "No America") is gaining widespread popularity in Denmark. The app was developed by 21-year-old Dane Jonas Piper and his friend Malte Hensbel. Piper stated that many consumers want to avoid buying American-made food, but often find it difficult to identify the country of origin in supermarkets. The UdenUSA app addresses this need by indicating the country of origin for each product.On January 24, local time, an Iranian official stated that the Iranian military is prepared to respond to any possible actions by the United States. The unnamed official said, "The Iranian military is prepared for the worst-case scenario, but we hope that the troop increase will not escalate into actual confrontation." He added, "We consider any potential attack by the United States to be an existential threat to Iran." The official also warned the United States and Israel against such risky actions, stating, "The collapse of Iran would directly lead to the collapse of the region, including Israel." The official added, "Our situation is far better than during the 12-Day War; there is no longer any so-called surprise attack."On January 24th, it was reported that on December 24th of last year, four departments, including the Beijing Municipal Commission of Housing and Urban-Rural Development, issued the "Notice on Further Optimizing and Adjusting Relevant Policies of Beijing Real Estate," which involved adjustments to purchase restrictions and credit optimization. Overall, since the implementation of the new policy a month ago, transaction volume has been steadily increasing. Data from Centaline Property shows that since the release of the notice, the average daily number of new home sales contracts has increased by 44.6% month-on-month, with improved housing projects outside the Fifth Ring Road performing particularly well. In the secondary market, after the new policy, the average daily number of viewings at real estate agencies has increased by more than 20% compared to normal, and the average daily transaction volume of secondary homes has exceeded 500 units.January 24th - The Fourth Session of the 14th Beijing Municipal Committee of the Chinese Peoples Political Consultative Conference (CPPCC) solemnly opened at the Beijing Conference Center at 9:00 AM today (January 24th). The opening session will review and adopt the "Agenda of the Fourth Session of the 14th Beijing Municipal Committee of the CPPCC," hear the "Work Report of the Standing Committee of the 14th Beijing Municipal Committee of the CPPCC," and hear the "Report of the Standing Committee of the Beijing Municipal Committee of the CPPCC on the Work of Proposals Since the Third Session of the 14th CPPCC."

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

USD:JPY.png 

 

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.


Suggestion