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The Dow Jones Industrial Average closed at 41,113.97 points, or 0.70%, on Wednesday, May 7. The S&P 500 closed at 5,631.27 points, or 24.36 points, or 0.43%, on Wednesday, May 7. The Nasdaq Composite closed at 17,738.16 points, or 48.50 points, or 0.27%, on Wednesday, May 7.On May 8, Peter Cardillo, chief market economist at Spartan Capital Securities, said that the Fed kept interest rates unchanged, and the wording of the statement seemed to hint at stagflation and uncertainty about tariffs. Overall, the Feds policy statement was more hawkish than expected. This Fed meeting was characterized by a lot of uncertainty and a firm determination to stay on hold until the Fed gets more information about the impact of tariffs on inflation.Arm (ARM.O) expects revenue for the first quarter of fiscal 2026 to be between $1 billion and $1.1 billion.Arm (ARM.O) had revenue of US$1.24 billion in the fourth quarter of fiscal year 2025, compared with US$928 million in the same period last year, and the market expected US$1.232 billion.On May 8, Chris Zaccarelli, chief investment officer of Northlight Asset Management, said that the Federal Reserve is in trouble, and concerns about inflation and recession are pulling them in two directions. Because of this, the Federal Reserve will have to wait for the unemployment rate to soar before resuming interest rate cuts, but by then it may be too late. The market will become increasingly worried about a recession, and unless some trade agreements are reached before the tariff suspension ends, we will see the market fall again, just like in early April.

A decrease in the EUR/JPY exchange rate is about to occur as recession fears grow. It is now over 138.00

Alina Haynes

Jul 07, 2022 14:43

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The EUR/JPY currency pair is doing poorly during the Tokyo session. The cross is bouncing around a narrow range of 138.26-138.60 after recovering from its low of 137.27 on Wednesday. Generally speaking, bears are in charge of the asset. The pair has fallen during the last week as a result of failing to overcome the 144.00 resistance level, which has been a barrier for four weeks.

 

The chance of a recession in the eurozone has significantly increased as a result of the Bank of England's (BOE) negative assessment of the global economy. The BOE believes that price volatility in raw materials and energy might lead to economic disruptions in the future. The negative outlook of a Western central bank is fundamentally harmful to the FX market. The shocks to the economy would undoubtedly harm the eurozone as well because it forbids the import of Russian oil.

 

Along with fears of a recession, the common currency's bulls are also plagued by disputes over gas supplies between the economies of Europe and the United Kingdom. The British government has said that it would stop exporting gas to Europe if shortages develop there in the upcoming months.

 

The underperformance of the wage-price notion in Tokyo worries the Bank of Japan (BOJ). In order to keep inflation rates close to target levels, according to the BOJ, pay increases are required. If not, families would face greater price pressures, which would result in a decrease in the overall volume of demand.


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