EUR/USD 1.15913
-0.124%
Gold 4485.19
0.073%
Oil 100.982
-2.267%
USD/JPY 159.022
-0.024%
GBP/USD 1.33859
-0.061%
GBP/JPY 212.870
-0.080%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 20th, the Ministry of Finance released its fiscal revenue and expenditure figures for January-April 2026. From January to April, national government fund budget revenue totaled 1,020.8 billion yuan, a year-on-year decrease of 18.9%. Breaking it down by central and local governments, central government fund budget revenue was 149.1 billion yuan, a year-on-year increase of 6.5%; local government fund budget revenue was 871.7 billion yuan, a year-on-year decrease of 22.1%, of which revenue from the transfer of state-owned land use rights was 680.1 billion yuan, a year-on-year decrease of 27.2%.On May 20th, the Ministry of Finance released its fiscal revenue and expenditure figures for January-April 2026. From January to April, property tax revenue reached 218.5 billion yuan, a year-on-year increase of 7.8%. Vehicle purchase tax revenue reached 76.7 billion yuan, a year-on-year increase of 13.3%. Urban land use tax revenue reached 104.9 billion yuan, a year-on-year increase of 3.7%.Market news: The European Commission and Ukraine signed a memorandum of understanding on macro-financial assistance, paving the way for the disbursement of €3.2 billion in funds in mid-June.On May 20th, the Ministry of Finance released its fiscal revenue and expenditure figures for January-April 2026. From January to April, national general public budget expenditure totaled 9,480.9 billion yuan, a year-on-year increase of 1.3%. Breaking it down by central and local governments, central government general public budget expenditure was 1,291 billion yuan, a year-on-year increase of 5.1%; local government general public budget expenditure was 8,189.9 billion yuan, a year-on-year increase of 0.7%.UAE Presidential Advisor Anwar: The Iranian militias attack on the Baraka nuclear power plant is a serious violation of international law. The threats from Hormuz to Baraka reflect a "chaotic mentality" in Iran that will jeopardize the global economy and international order.

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