EUR/USD 1.14288
0.074%
Gold 4029.73
-0.568%
Oil 79.493
0.432%
USD/JPY 162.199
-0.038%
GBP/USD 1.34093
0.141%
GBP/JPY 217.503
0.101%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Japanese Prime Minister Sanae Takaichi: Exchange rates are determined by the market.July 15th - According to Zhengzhou Customs, Henan Provinces total import and export volume exceeded 500 billion yuan for the first time in history during the first half of this year. In the first half of the year, Henans total import and export volume reached 520.36 billion yuan, a year-on-year increase of 26%. Exports totaled 319.48 billion yuan, up 14.6%; imports totaled 200.88 billion yuan, up 49.8%. This also marks the first time in history that Henans import volume has exceeded 200 billion yuan for the same period.Japanese Prime Minister Sanae Takaichi: Foreign exchange and interest rates are affected by a variety of factors, such as US interest rates and economic indicators.Japanese Prime Minister Sanae Takaichi: I do not believe the draft economic blueprint will become a source of market shocks.July 15th, Futures News: Recent escalation of geopolitical tensions has restricted navigation across the Taiwan Strait, increasing market concerns about supply prospects and driving up international crude oil prices. The corresponding crude oil change rate is fluctuating upwards, and the current window for retail price adjustments for refined oil products has opened, providing a positive outlook. Currently, domestic wholesale prices for gasoline and diesel are rebounding, with some regions experiencing significant price increases. Some suppliers and traders are holding back sales or controlling supply, further fueling market upward pressure. In the short term, the increase in wholesale prices may exceed the adjustment in retail prices, potentially narrowing the wholesale-retail price gap. Furthermore, limited actual demand from end-users suggests a rise in risk appetite for purchasing at higher prices.

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