EUR/USD 1.18813
0.086%
Gold 5061.91
-0.440%
Oil 63.991
-1.151%
USD/JPY 153.135
-0.087%
GBP/USD 1.36496
0.158%
GBP/JPY 209.026
0.084%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On February 12, the State Post Bureau held a directors office meeting. The meeting emphasized the need to continue implementing the "Interim Regulations on Express Delivery," focusing on building a green postal service, constructing a green and energy-saving service system, accelerating the industrys green transformation, and promoting energy conservation and carbon reduction in production methods, adding new luster to the high-quality development of the postal and express delivery industry. It stressed the importance of strengthening the implementation of regulations, standards, and policies such as the "Requirements for Restricting Excessive Packaging in Express Delivery," strengthening administrative law enforcement, and ensuring enterprises fulfill their primary responsibilities. The meeting also emphasized the need to deepen the source governance of express packaging, coordinating with relevant departments to strengthen supervision of upstream e-commerce companies and merchants, fully mobilizing the enthusiasm of all parties, and accelerating the pace of green transformation. Finally, the meeting called for the formulation of an industry standard, the "Methods for Carbon Emission Accounting in the Postal Industry," organizing carbon emission accounting, and promoting carbon reduction throughout the entire process.Mexican President Simbaum: Continues to propose mediating relations between the US and Cuba.Germanys unadjusted current account balance for December was €16.1 billion, compared to €15.1 billion in the previous month.The SC crude oil futures contract fell 2.00% intraday, currently trading at 471.30 yuan/barrel. The paraxylene (PX) futures contract also fell 2.00% intraday, currently trading at 7242 yuan/ton.February 12th - The U.S. Labor Department reported on Thursday that initial jobless claims fell by 5,000 to 227,000 in the week ending February 7th, slightly higher than the market expectation of 222,000. This decline only offset a small portion of the surge in the previous week – a jump attributed to widespread snowstorms and severe cold weather across the country, and a normalization adjustment following seasonal fluctuations from late 2025 to early 2026. Despite faster job growth in January and the unemployment rate falling to 4.3% from 4.4% in December, economists still characterize the labor market as "low hiring, low layoffs." The report also showed that continuing jobless claims rose by 21,000 to 1.862 million in the week ending January 31st, also seasonally adjusted. This data was also affected by seasonal fluctuations. Although the number of people experiencing long-term unemployment decreased in January, the median duration of unemployment remains close to levels seen four years ago. The employment situation for recent graduates remains severe.

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