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May 2 - Preliminary vessel tracking data from LSEG shows a significant jump in U.S. liquefied natural gas (LNG) exports to Asia in April. As conflict in the Middle East constrained production in the region, U.S. producers effectively filled the gap left by reduced supply from Middle Eastern exporters. Nearly a quarter of total U.S. LNG exports went to Asia that month. Data shows that since the U.S. and Israels strikes against Iran, U.S. LNG shipments to Asia have increased by more than 175%; specifically, exports climbed from approximately 970,000 tons in February to 1.99 million tons in March, and further increased to 2.71 million tons in April.According to the U.S. Commodity Futures Trading Commission (CFTC), in the week ending April 28, equity fund managers reduced their net long positions in the S&P 500 CME by 21,368 contracts to 999,182 contracts. Equity fund speculators reduced their net short positions in the S&P 500 CME by 5,811 contracts to 396,442 contracts.According to the U.S. Commodity Futures Trading Commission (CFTC), in the week ending April 28, speculators reduced their net short positions in CBOT U.S. 2-year Treasury futures by 34,090 contracts to 1,709,263 contracts. They increased their net short positions in CBOT U.S. 10-year Treasury futures by 48,166 contracts to 839,137 contracts.On May 2nd, Federal Reserves top banking regulator, Bowman, stated that regulators must consider how best to regulate new technologies like Anthropics Mythos. "On one hand, this capability allows companies to address vulnerabilities they identify themselves, thereby enhancing cybersecurity," Bowman said. "But on the other hand, if used maliciously, it could be used to identify and exploit weaknesses." Anthropic has limited the release of its latest artificial intelligence model as it assesses safeguards against this powerful new technology. This model has also prompted Trump administration officials to consider the possibility of cyberattacks threatening financial stability.US President Trump: No authorization is needed for action against Iran.

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

Alina Haynes

Apr 06, 2023 11:52

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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."

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