EUR/USD 1.15310
0.027%
Gold 4049.93
-1.308%
Oil 83.066
0.506%
USD/JPY 158.424
-0.680%
GBP/USD 1.34800
0.110%
GBP/JPY 213.560
-0.560%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to Israels i24News, a senior official of the Gaza Peace Committee revealed on Friday that under the proposed Gaza framework, Israels obligations would be limited to subsequent phases and would be reversible. Furthermore, the fulfillment of these obligations depends on Hamas and other armed groups fulfilling their security commitments first.The Federal Reserve accepted a total of $2.151 billion from four counterparties in its fixed-rate reverse repurchase operations.On August 1st, Federal Reserve Chairman Barkin stated that whether the Feds current interest rate level is sufficient to curb inflation is an "open question." He also indicated that he was unsure whether he would vote in favor of raising interest rates, as the other three regional Fed presidents voted this week. In an interview on Friday, Barkin said, "I think there are certainly good reasons to tighten policy and reverse some of last years rate cuts." He noted that given the slowdown in Junes inflation data, "I think its also possible... theres still time before the next meeting to determine whether the current policy stance is appropriate." Barkin will not participate in the interest rate decision vote until next year. Furthermore, Barkin expressed skepticism about whether the labor market has strengthened significantly. He stated, "I dont feel the labor market is tight." He also pointed out that the transmission of price increases in the economy is uneven, making it difficult to determine how much inflation remains.Baker Hughes Oilfield Services: The U.S. energy company has added drilling rigs for the sixth time in seven weeks.The total number of natural gas drilling rigs in the United States for the week ending July 31 was 127, unchanged from the previous week.

Prior to the release of Australian employment data, the AUD/JPY pair attempts to regain 89.00

Alina Haynes

Apr 12, 2023 13:44

 AUD:JPY.png

 

The AUD/JPY pair attempts to reclaim the critical resistance level of 89.00 during the Asian session. Kazuo Ueda, the governor of the Bank of Japan (BoJ), has advocated for an extension of the already decade-long ultra-loose monetary policy in order to consistently achieve an inflation rate above 2%.

 

The decelerating Producer Price Index (PPI) contradicts the optimistic outlook of the Japanese government regarding wage growth. As expected by market participants, the March PPI did not change. The annual PPI came in at 7.2%, which was higher than the consensus estimate of 7.1% but lower than the previous release of 8.1%. The inability of companies to sustain accelerating production rates at factory gates is indicative of weak household demand.

 

Analysts at Commerzbank anticipate that the Japanese Yen will only appreciate over the long term if the current monetary policy is abandoned quickly.

 

Regarding the Bank of Japan's (BoJ) Yield Curve Control (YCC), the IMF has stated that allowing more flexibility in YCC could have repercussions for global markets, but it could also prevent future policy shifts that could result in significant spillovers.

 

Investors are awaiting the March Employment Report for fresh impetus in the Australian Dollar. The market expects the Australian economy to add 20,000 employment, which is less than the previous estimate of 64.6K. While the Unemployment Rate is expected to rise to 3.6% from 3.5% in February, it is anticipated that the Unemployment Rate will increase to 3.6%.

 

Governor Philip Lowe of the Reserve Bank of Australia (RBA) has left the door open for additional rate hikes if Australian inflation persists, so the publication of stronger-than-expected employment gains could reignite fears of additional rate hikes.

Suggestion