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Iranian Foreign Ministry Spokesperson: We do not support the proposals made by US officials and their media regarding the Iranian nuclear issue.Federal Reserve Governor Waller: I am not worried about the dollar losing its reserve currency status and it still enjoys the trust of all parties.On April 18, Bank of Canada Governor John Macklem stated that he expects inflation to accelerate in March, but likely remain below 3%. He also noted that officials will closely monitor medium- to long-term inflation expectations when deciding whether to raise interest rates. Macklem said, “The central bank doesn’t want to act too early, raise rates, and drag down growth, especially when growth is already weak. On the other hand, you don’t want to act too late and let inflation take hold and become entrenched.” Statistics Canada is scheduled to release March inflation data next Monday. A few hours later, the Bank of Canada will release its quarterly survey, measuring business and household sentiment, which will provide the first clue to inflation expectations. Macklem said he is not too worried about higher short-term inflation expectations, which will be sensitive to the sharp rise in energy prices stemming from the conflict with Iran. “That’s what would really worry us if businesses and households weren’t confident that inflation would return to 2% in the medium term,” Macklem said. Bank of Canada officials expect the energy price increases to not quickly transmit and push up the prices of other goods and services. Unlike the early part of this decade when inflation reached a 40-year high after the COVID-19 pandemic, overall inflation was below 2% before the Iran war. In addition, core price increases have slowed, and the countrys economy has spare capacity, which should limit price increases.Federal Reserve Governor Waller: Scenario analysis is crucial for central bank officials.April 18th - According to a source familiar with the matter, Cursor, a leading startup in the field of artificial intelligence programming, is in advanced talks with investors to raise approximately $2 billion in a new funding round, which would value the company at over $50 billion (excluding this round of investments). The source stated that existing investor Andreessen Horowitz will co-lead this round. Two other sources indicated that Nvidia also plans to participate in the funding round. One source stated that Thrive Capital is also in talks to participate.

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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