EUR/USD 1.16431
0.010%
Gold 4620.71
0.752%
Oil 60.312
-0.878%
USD/JPY 158.490
-0.422%
GBP/USD 1.34359
0.108%
GBP/JPY 212.946
-0.305%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The U.S. Department of Justice has accused Kaiser Permanente affiliates of submitting invalid diagnostic codes for their Medicare Advantage plan enrollees in order to obtain higher payments from the government.In his speech on Wednesday, Trump unusually echoed a key argument from Iran. Trump stated, "They (Iran) said someone fired guns at them, and they fired back. You know, thats how it is."The Dow Jones Industrial Average closed down 42.36 points, or 0.09%, at 49,149.63 on Wednesday, January 14; the S&P 500 closed down 36.77 points, or 0.53%, at 6,926.97; and the Nasdaq Composite closed down 238.12 points, or 1.00%, at 23,471.75 on Wednesday, January 14.January 15th - The Federal Reserves Beige Book showed that overall economic activity in eight of the 12 Federal Reserve districts increased at a slight to moderate pace, three districts reported no change, and one district reported a moderate decline. This is an improvement over the previous three reporting periods, when most districts reported little change in economic activity. The Beige Book indicated a slightly optimistic outlook for future activity, with most districts expecting modest to moderate growth in the coming months. The Beige Book also showed that most banks reported slight to moderate growth in consumer spending this period, primarily due to the holiday shopping season; recent employment conditions were largely unchanged, with eight of the 12 districts reporting no change in hiring activity; and prices increased at a moderate pace in the vast majority of districts, with only two districts reporting slight price increases. Cost pressures from tariffs were a common problem across all districts.Market news: A U.S. judge has refused to immediately grant Minnesotas request to block ICE enforcement operations in the state.

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