EUR/USD 1.16126
0.002%
Gold 4422.39
0.364%
Oil 89.940
1.728%
USD/JPY 158.438
0.000%
GBP/USD 1.34386
0.006%
GBP/JPY 212.923
0.069%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Hang Seng Tech Index rose more than 2% in the afternoon, while the Hang Seng Index rose 2.4%, with stocks in sectors such as optical communication, precious metals, new consumption concepts, and biopharmaceuticals leading the gains.On March 24th, according to Qichacha APP, Beijing Zitiao Network Technology Co., Ltd. recently applied to register multiple "SEEDANCE" trademarks, covering international classifications such as convenience foods, medical horticulture, and chemical raw materials. All trademarks are currently in the registration application process. Public information shows that Seedance 2.0 is an AI video generation model launched by ByteDance, capable of creating cinematic-quality videos based on text or images. In February of this year, it began small-scale testing and was launched on the Jimeng platform.On March 24th, asset management firm Neuberger Berman stated that European interest rates present two-way risks, and this asymmetry should be reflected in prices. The rise in global government bond yields, while influenced by central bank expected repricing, is also likely due to the need for central banks and financial institutions to raise funds due to rising oil prices. Even without traditional safe-haven demand, US Treasuries reflect a clearer easing path from the Federal Reserve than the European Central Bank.The SC crude oil futures contract fell by more than 8.00% again during the day, and is currently trading at 740.50 yuan/barrel.The platinum futures contract rose 4.00% intraday, currently trading at 489.35 yuan/gram. The palladium futures contract rose 4.90% intraday, currently trading at 359.4 yuan/gram.

As the BoJ ponders a YCC expansion, EUR/JPY continues to decline, falling below 142.60

Alina Haynes

Apr 06, 2023 11:52

 EUR:JPY.png

 

After plunging below 142.60 during the Asian trading session, the EUR/JPY pair's three-day losing trend was extended. Renewed rumors of an expansion of the Bank of Japan's (BoJ) Yield Curve Control (YCC) are exerting immense pressure on the cross.

 

The Japanese economy is experiencing gradual wage growth, and inflation is expected to respond to recent increases in crude oil prices. Analysts at Wells Fargo believe the BoJ will take advantage of a tactical opportunity to further modify its policy settings in the fourth quarter of 2022, and are inclined toward a meeting in October. They added that this timeframe is optimal for a smooth policy adjustment, as monetary easing from the Federal Reserve (Fed) and other major central banks should alleviate yield pressure.

 

In particular, the Bank of Japan (BoJ) will raise the target yield for 10-year Japanese government bonds (JGBs) from 0% to 0.25% and increase the tolerance interval surrounding this target to +/- 75 basis points.

 

Accelerating PMIs in the Eurozone provide support for the European Central Bank's sustained rate hikes. (ECB). S&P Global reported a Composite PMI of 53.7 on Wednesday, which was higher than the previous release of 52.0 but below expectations of 54.1, the highest level in the past ten months.

 

According to Reuters, S&P Global issued the following statement: "Manufacturing production increased slightly, but the service sector had the greatest impact on March's accelerated growth."

 

Wednesday, ECB policymaker Boris Vuji stated regarding interest rate forecasts, "The majority of the rate-hiking cycle has passed." He added, "We may require additional rate increases to address core inflation."

Suggestion