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Chart: US market data for Monday, July 20, 2026July 20 (Xinhua) -- Bulgarian Prime Minister Radev said on the 20th that the Bulgarian government has received a request from the United States to deploy up to eight refueling aircraft at the Bezmer Air Base in Bulgaria and will submit it to parliament for approval. Radev stated that the government received the request from the US on the 17th, which aims to support its military operations in the Middle East. The US cited a 2006 intergovernmental defense cooperation agreement between the two countries. This agreement allows the US military to use bases within Bulgaria, including the Bezmer Air Base. Radev said that although the US urgently submitted the deployment request, the Bulgarian government has not yet approved it because, according to Bulgarian law, such a decision must be made by parliament. The government will propose to parliament that the refueling aircraft be deployed at the Bezmer Air Base.July 20 – KPMG Canada Chief Economist Ali Jaffery stated that Canadas June inflation report showed limited evidence of rising energy costs being passed on to goods such as food. The June report indicated that the inflation rate slowed to 2.8% in June from 3.2% in the previous month. Jaffery said that economic literature suggests this transmission could take a year or more to peak, but the slow start is encouraging. He stated that concerns about accelerating commodity price increases due to the combined effect of rising energy prices and US tariffs have not been substantiated. He added that the CPI basket showed "considerable weakness" after excluding travel services; travel service prices rose in June due to the World Cup matches held in Toronto and Vancouver.The U.S. Geological Survey reports a 6.4-magnitude earthquake that struck approximately 86 kilometers southwest of San Augustine (Chiapas), Mexico.Jupiter Asset Management: Weak UK economic growth may eventually allow the Bank of England to cut interest rates.

Before the US NFP, the USD/JPY is likely to decrease to roughly 132.00

Alina Haynes

Aug 05, 2022 14:49

截屏2022-08-05 上午9.50.18.png 

 

The difficulties that the USD/JPY pair met around 133.00 during the Asian session are now in full force. As investors predict a disappointing result from the US Nonfarm Payrolls (NFP) data, the asset has printed a low of 132.77 and is projected to decrease further to about 132.00.

 

JP Morgan experts projected that the US Nonfarm Payrolls (NFP) will be poorer than expected at 200K in the July labor market statistics, compared to the consensus expectation of 250k jobs gained in the month. The US economy produced 372k new jobs in the labor market in June. The labor market is under great pressure as a result of data showing a continued fall in job creation. The unemployment rate, though, will be constant at 3.6 percent.

 

Increased labor market dangers are a result of rising interest rates and their compounding impacts. Due to pricey dollars, business players are unable to invest without reluctance. Low investment possibilities cannot thus speed the process of creating jobs.

 

Despite the Federal Reserve (Fed) policymakers' enhanced interest rate ambitions, the US dollar index (DXY) has thrown up the support of 106.00. According to Cleveland Fed President Loretta J. Mester, ending the policy tightening program without detecting a decline in the inflation rate for several months is not conceivable at interest rates above 4 percent .

 

Tokyo's entire household expenditure has dramatically climbed from the previous report of -0.5 percent and the predictions of 1.5 percent to 3.5 percent. As an inflation indicator, the economic data may aid the yen bulls. The economic data have greatly improved, which means that the inflation rate may climb much further. The findings may, however, be largely impacted by growing energy expenditures. However, a hike in the labor cost index is shortly to come in order to keep the inflation rate over 2 percent.


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