EUR/USD 1.15228
-0.017%
Gold 4343.93
0.585%
Oil 90.798
2.540%
USD/JPY 160.310
0.083%
GBP/USD 1.33364
-0.006%
GBP/JPY 213.799
0.076%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Japans April trade balance will be released in ten minutes.On June 8th, South Korean internet giant NAVER and NVIDIA announced that NAVER will expand its self-developed AI infrastructure based on the NVIDIA DSX platform. The initial phase will be launched at the Sejong GAK data center with a capacity of 55 megawatts, with plans to gradually expand to gigawatt-level scale, providing services to South Korean enterprises, manufacturers, government agencies, and global AI cloud customers. At the model level, NAVER will utilize NVIDIAs full-stack AI platform to advance the development of its next-generation HyperCLOVAX model and fine-tune it based on the NVIDIA Nemotron3 Ultra open-source model, creating a localized model for the Korean-speaking and global enterprise markets. NAVER also becomes the first South Korean company to join the NVIDIA Nemotron Alliance and plans to launch its AI agent platform in South Korea in the second half of the year.On June 8th, SK Telecom and NVIDIA announced that SK Telecom plans to build a gigawatt-scale AI cloud infrastructure in South Korea based on the NVIDIA DSX platform. The first AI factory is expected to be operational in 2027, with plans to expand to a wider area in Asia in the future. This AI cloud will be built on the NVIDIA DSX full-stack reference architecture, supporting training, inference, and agent workloads, covering sovereign AI, physical AI, and enterprise AI application scenarios. SK Telecom will also join the NVIDIA Cloud Partner Program. At the same time, NVIDIA and the SK Group announced plans to conduct joint research to explore next-generation AI factory architectures, focusing on full-stack innovation from chips to the power grid, covering accelerated computing, storage technologies, and data center operations.Futures News, June 8th: The US-Iran war has entered its 100th day, with military friction escalating and the situation showing no signs of improvement. Iran launched a surprise attack on Israel in the early hours of the morning, effectively breaking the ceasefire agreement and deepening the shipping crisis in the Straits of Hormuz; OPEC+s increased production is insufficient to offset the shortfall; US inventories have declined for seven consecutive weeks, and global crude oil inventories are at low levels. Multiple factors have pushed up risk premiums, resulting in a significant gap up in early Asian trading this week.On June 8th, local time, Ukrainian President Volodymyr Zelenskyy unveiled a new concept for resolving the conflict on the 7th. The core of the plan is a ceasefire to maintain the current posture, followed by negotiations to resolve disputes and quickly end the military conflict, maximizing the protection of civilian and military lives. Zelenskyy stated that this model is currently the fastest way to end the conflict. He pointed out that maintaining the current ceasefire does not mean Ukraine is relinquishing its territorial sovereignty; the core purpose is to protect the lives of its citizens, solidify the current situation, and create favorable conditions and sufficient space for subsequent peace negotiations. Zelenskyy also set clear requirements for the ceasefire conditions. He emphasized that the ceasefire must be comprehensive and monitorable, requiring the participation of international partners such as the United States and Europe to establish a sound international monitoring mechanism. Furthermore, he added that the ceasefire is only a phase, not the final outcome. After a comprehensive ceasefire is implemented, all parties must immediately initiate a diplomatic mediation process, relying on dialogue and consultation to explore a long-term solution to completely end the war.

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