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On May 8, the World Health Organization (WHO) held a press conference on May 7 regarding the recent Hantavirus outbreak on the cruise ship "Hundius," stating that it has received reports of eight cases to date. The outbreak involves an Andean virus, and the risk of broader public health consequences remains low. WHO Director-General Tedros Adhanom Ghebreyesus said at the conference that of the eight reported cases, five have been confirmed as Hantavirus, and three are suspected cases.Conflict Status: 1. Satellite images show a suspected renewed attack and fire at an oil pumping station in the Russian interior. 2. Ukrainian military: Attacked a Russian oil refinery in Perm. 3. Ukrainian military claims to have struck multiple key Russian military facilities. 4. Ukrainian military claims to have hit a small Russian missile ship off the coast of Dagestan. 5. Russian Ministry of Defense announces a ceasefire from midnight on May 8th until May 10th. 6. During the Victory Day ceasefire, Russian forces will completely cease combat operations in special military operation zones. 7. Russian Ministry of Defense: If Ukraine attempts to disrupt Victory Day celebrations in Moscow, Russia will launch a large-scale missile attack on the center of Kyiv. Other Status: 1. Zelensky: Ukrainian peace negotiators held talks with the US team. 2. Russia advises Ukraine to take the Victory Day ceasefire seriously. 3. Swedish Defense Minister: Negotiations with Ukraine on an agreement for Gripen fighter jets are progressing smoothly. 4. Zelensky: Ukraine and the US will hold talks to discuss prisoner exchanges and other matters. 5. British media: EU leaders are preparing for potential negotiations with Putin, with the support of Ukraine.SK Hynix shares fell more than 3%.US President Trump: Pakistan has asked the US not to pursue the "Freedom Project" during negotiations with Iran.Futures News, May 8th: 1. Heavy Rainfall Continues in South China. From May 8th to 9th, scattered heavy rainfall will continue in central and southern South China, with heavy rain in parts of central and southern Guangxi, central and southern Guangdong, and southern Yunnan, and locally torrential rain to extremely heavy rain. It is forecasted that from 08:00 on May 8th to 08:00 on May 9th, heavy to torrential rain will occur in parts of southeastern Fujian, southeastern Guangxi, eastern and southern coastal Guangdong, southeastern Yunnan, central Hainan Island, and northeastern Taiwan Island, with locally extremely heavy rain (100-140 mm) in southwestern Guangdong. These areas will also experience short-term heavy rainfall (maximum hourly rainfall of 20-50 mm, locally exceeding 60 mm), and locally severe convective weather such as thunderstorms and strong winds. The Central Meteorological Observatory continued to issue a blue rainstorm warning at 06:00 on May 8th. In addition, over the next three days, light to moderate rain is expected in Yunnan, southern Sichuan, and Guizhou, with locally heavy rain in southern Yunnan. 2. Heavy Rainfall Occurs in Indonesia, New Zealand, and Other Areas. Yesterday, moderate to heavy rain occurred in parts of New Zealands South Island, southeastern Australia and Tasmania, Indonesia, Malaysia, Singapore, southern Vietnam, central Cambodia, southern and northwestern Thailand, Bangladesh, western Poland, Germany, northern Czech Republic, Switzerland, Italy, eastern and southwestern France, eastern Belgium, southern South Africa, western Cameroon, western Gabon, southern Benin, southern Togo, southeastern Canada, eastern United States, Mexico, northern Brazil, Ecuador, central Peru, south-central Chile, Uruguay, and central Argentina, with some areas experiencing torrential rain. In addition, moderate to heavy snow occurred in parts of the Alaska Peninsula, southern Canada and the Labrador Peninsula, Siberia in Russia, and northern Northern Europe, with some areas experiencing blizzards. 3. Persistent high temperatures are expected in the Arabian Peninsula, South Asia, and North Africa. Over the next three days, under the influence of the subtropical high, temperatures exceeding 40°C are expected in parts of the eastern Arabian Peninsula, southeastern Iran, southwestern Afghanistan, southern Pakistan, western India, and northern West and East Africa, with some areas exceeding 42°C.

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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