EUR/USD 1.15253
0.007%
Gold 4401.46
-0.158%
Oil 82.026
0.446%
USD/JPY 159.290
-0.078%
GBP/USD 1.34946
0.003%
GBP/JPY 214.960
-0.068%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
August 13th - According to foreign media reports, Japanese Prime Minister Sanae Takaichi supports a near-term interest rate hike by the Bank of Japan, with the next move likely in September or October. The Bank of Japans concerns about the weak yen pushing up prices, coupled with the governments desire to enhance the effectiveness of recent joint US-Japan foreign exchange market intervention, have led to a convergence in their stance on the necessity of a near-term rate hike. The Prime Ministers Office believes that specific monetary policy measures, including interest rate hikes, should be decided by the Bank of Japan, but both sides should cooperate closely to achieve the 2% inflation target with "stability."Market news: The Bank of Japan may raise interest rates in September or October.Market news: Japanese Prime Minister Sanae Takaichi reportedly supports the Bank of Japan raising interest rates more quickly.On August 13, the Bank of Korea (BOK) purchased gold-related assets for the first time in 13 years to hedge against geopolitical and economic uncertainties. According to a filing with the U.S. Securities and Exchange Commission, the BOK held 679,765 shares of SPDR Gold Shares, worth approximately $250 million, at the end of the second quarter. The filing shows that three months prior, the bank did not hold any shares in the worlds largest physical gold-backed ETF. The BOK stated that this investment marks its first purchase of gold-linked assets since 2013. This purchase will not increase the banks official gold reserves, as gold ETFs are classified as securities and are part of its foreign exchange reserves. Choi Kyuho, an economist at Hanwha Investment & Securities, said, "The BOKs current gold allocation is quite low. From a global standards perspective, the BOK still has room to purchase more gold. I believe they will gradually increase their gold holdings."According to Interfax news agency, local officials said a drone struck an industrial area in Bashkorto, Russia.

AUD/JPY Exceeds 90.30 As RBA Considers Option To Raise Rates Prior To Pause

Daniel Rogers

Apr 18, 2023 14:02

AUD:JPY.png 

 

Following the release of the minutes from the Reserve Bank of Australia (RBA), the AUD/JPY pair surged above the 90.30-point critical resistance level. According to the RBA minutes, policymakers actively considered the decision to raise rates further. However, the decision to maintain the status quo was made after the collection of additional data.

 

Citing the resilience of Australia's financial system, RBA policymakers believed that the Board's future cash rate decisions would depend on the global economy, household spending trends, inflation projections, and employment forecasts.

 

Continue to monitor China's Gross Domestic Product (GDP) statistics. Compared to its stagnant performance in the final quarter of CY2022, the Chinese economy is estimated to have grown by 2.2%. Compared to the previous annual growth rate of 2.9%, the current annual growth rate for the economy is 4.0%. Australia is China's greatest trading partner, and stronger Chinese GDP data would strengthen the Australian Dollar.

 

The announcement of the People's Bank of China (PBOC) interest rate decision later this week will be crucial. Last week, the People's Bank of China pledged to provide additional monetary support to spur retail demand. Despite the reopening of China's economy following a period of economic restraint, the country's inflation rate has been consistently declining over the past few months.

 

According to Jiji news and Reuters, the Bank of Japan is reportedly considering a projection for consumer price growth between 1.6% and 1.9% for the 2025 fiscal year, a move seen as preventing market participants from betting on the central bank's departure from stimulus. This has also delayed the possibility of a shift away from an expansionary monetary policy, which cannot be considered until the Japanese inflation rate persists above 2%.


Suggestion