EUR/USD 1.14636
0.001%
Gold 4316.51
-0.620%
Oil 93.201
1.708%
USD/JPY 157.615
0.162%
GBP/USD 1.33724
0.044%
GBP/JPY 210.775
0.204%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The UK governments budget deficit in August was £10.005 billion, revised from -£29.006 billion to -£26.808 billion in the previous month.Jefferies: Lowered its price target for Boeing (BA.N) from $295 to $265.On September 22, Goldman Sachs issued a report expressing a positive view on Hua Hong Grace Semiconductor (01347.HK), forecasting revenue growth of 11% and 15% quarter-on-quarter in Q3 and Q4 of 2026, respectively, higher than the 9% quarter-on-quarter growth in Q2 of 2026. This growth is primarily driven by increased AI spending in China and customers domestic-first strategies to better secure supply. The report notes that Hua Hong continues to expand its capacity, maintaining high capacity utilization, driven by strong demand and technology node migration. Generative AI remains the main driver, boosting demand for embedded flash memory, NOR flash memory, and power management ICs. In September, Hua Hong completed the acquisition of a 97.5% stake in Huahong Microelectronics, which subsequently became a wholly-owned subsidiary and will be consolidated into the groups financial statements. The report anticipates that this acquisition will broaden Hua Hongs 12-inch manufacturing platform and support its long-term capacity and technology node expansion. The bank expects strong demand to support capacity utilization, average selling price, and gross margin. The company aims to increase 12-inch wafer capacity at Fab9A by approximately 40% by the end of Q3 2026 and reach full capacity in the first half of 2027. The bank maintains its "Buy" rating on Hua Hongs Hong Kong-listed shares with a 12-month target price of HK$335.The local governor stated that the Russian attack on Dnipro, Ukraine, resulted in three deaths.Russian Ministry of Defense: We attacked targets in Kyiv, Poltava, Odessa and Dnipropetrovsk.

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