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On September 10th, US President Trump stated on Wednesday that the US might strike Irans "Gazelle" facility and urged Tehran to exercise caution. Speaking at the Republican midterm election convention, Trump said, "Weve noticed some activity at Gazelle. I advise Iran not to play tricks, or we will have to deal with them severely." Gazelle, located near Irans severely damaged Natanz uranium enrichment facility, is a heavily guarded facility with two deeply buried underground tunnel complexes. Trump has been threatening to strike Gazelle since at least mid-July. Since the US-Israel war against Iran began in February, rising oil and gas prices have become a major issue for Trump and the Republican Party ahead of the November midterm elections.September 10th - According to US media reports on the 9th, several US military aircraft were damaged in Irans attack on Jordans Mowofegsalti airbase on the 8th. CBS News, citing sources, reported that an A-10 Thunderbolt attack aircraft was hit, with one wing broken off. Eight F-15 fighter jets sustained minor damage and have been returned to service. The report stated that the Iranian attack occurred after the US military struck five Iranian oil tankers on the 8th. US forces in Jordan launched more than 30 Patriot air defense missiles in response to the Iranian attack.On September 10th, Gaode Maps, a subsidiary of Alibaba Group (09988.HK), released its 2026 Gaode Street Mapping Ranking. Gaode CEO Guo Ning stated that while generating answers is becoming increasingly easy in the AI era, the truly scarce resource is the ability to understand the real world. Based on spatial intelligence, Gaode will reshape the street mapping experience, extending its services to the entire user journey, from decision-making to departure and arrival.US President Trump: I ask you to let us get this job done. Together we will turn two years of recovery into 250 years of leadership.On September 10, 2026, the Global Trade in Services Summit was held in Beijing. Ding Xuexiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, attended and delivered a keynote speech. Ding Xuexiang stated that the current international economic and trade landscape is undergoing rapid restructuring, and vigorously developing trade in services and promoting open cooperation in the service sector is not only Chinas choice but also a global necessity. He put forward three suggestions: First, promote high-quality development of the service sector to elevate trade in services to a new level. Improve the quality, efficiency, and innovation capabilities of the service sector, promote mutual development between the service sector and trade in services, and better support the economic and social development of all countries. Second, expand new space for the development of trade in services through inclusiveness and progress. Adhere to open leadership, reduce barriers to the cross-border flow of factors of production, continuously improve the level of liberalization and facilitation of trade in services, and promote the steady and long-term development of trade in services on a fair and inclusive path. Third, create a new engine for the development of trade in services through digital intelligence. Strengthen the sharing of digital technologies and services such as artificial intelligence, promote the interconnection of digital infrastructure, and inject strong momentum into the development of trade in services.

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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