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On June 9th, Mabrouk Chetouane, an analyst at Natixis IM, stated that although the market has fully priced in the European Central Banks (ECB) rate hike expectations for this week, ECB President Christine Lagarde still needs to proceed cautiously at the press conference, striving to portray this monetary tightening policy as a "dovish rate hike." The global head of market strategy said, "In fact, the current lack of clear signals that rising energy prices are having spillover effects on the real economy, coupled with the weakness of the European economic cycle, seems to support a more moderate approach to inflation." However, he also emphasized that, in accordance with its mandate and the creed of anchoring market expectations, the ECB Governing Council will still raise interest rates to enhance its credibility and demonstrate its responsiveness.French Foreign Minister Barrow: France is coordinating the implementation of sanctions with the United Kingdom, Canada, Australia, New Zealand and Norway.Britain and its allies have imposed sanctions on six entities involved in violence in the West Bank.Britain has imposed sanctions on networks that fuel violence among West Bank settlers.On June 9th, Jingfeng Medical (02675.HK) announced that its board of directors intends to exercise the general mandate granted by the resolution passed at the shareholders meeting on June 16, 2025, to use the share repurchase mandate to repurchase H shares in the open market from time to time with a total amount of up to HK$200 million, depending on market conditions. The implementation period will last until the conclusion of the next annual general meeting or until the special resolution withdraws/amends the repurchase mandate.

The USD/JPY crosses the 135.00 mark as the DXY rises ahead of US inflation

Daniel Rogers

Aug 10, 2022 11:32

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The USD/JPY pair is climbing northward during the Asian session in an attempt to retake its two-week high at 135.58. The asset's price turned positive on Monday as a result of the abundance of bids that occurred near 134.50. The USD/JPY pair's two-day consolidated activity shows that market participants are anxiously awaiting the release of the US Consumer Price Index (CPI).

 

Investors expect a decrease in price pressures this time, thus the release of the US inflation report is crucial. The investment community is aware that the crisis between Russia and Ukraine sharply increased oil prices, which continued to be essential to pressures on global costs.

 

A more than 11% drop in oil prices in July contributed to the black gold's continued sluggishness and lowered inflation expectations. The market anticipates that the inflation rate will decrease from 9.1% to 8.7%. The core CPI, which does not include food and oil, is anticipated to increase to 6.1% from the previously announced 5.9%. It appears that the demand for durable goods is rapidly increasing again. The US dollar index (DXY) is currently aiming to surpass the 106.40 immediate barrier.

 

The yen bulls are circling Tokyo as a result of Japan's government reorganization. Finance Minister Shunichi Suzuki will probably remain in the cabinet after this week's reorganization by Japanese Prime Minister Fumio Kishida. All eyes will now be on the Japanese government's efforts to raise the labor cost index, which is essential for keeping inflation over 2%.


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