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Bank of Japan Deputy Governor Ryozo Himino: We will carefully monitor the impact of interest rate hikes on corporate finance and wage-setting behavior.Bank of Japan Deputy Governor Ryozo Himino: The recent price increase was also influenced by demand-driven factors, with strong corporate profits, stable wage growth, and active demand related to artificial intelligence supporting the Japanese economy.On June 19th, Beijing time, early on the 18th, US and Iranian officials confirmed that the two presidents had signed a memorandum of understanding. However, some Iranian citizens expressed deep doubt about the USs ability to fulfill its obligations this time, given its history of non-compliance with agreements, and whether the situation would truly calm down. One citizen said, "I dont know much about the memorandum. I dont know if the US has played any tricks in it. They might launch another attack and break their promises." Another said, "I have no hope for the implementation of this memorandum because the USs actions have repeatedly proven that it is a liar."June 19th - According to China Real Estate News, Xiamens secondhand housing prices have risen for three consecutive months, showing an independent recovery trend. The transaction volume also shows positive signals. According to CRIC Xiamen Real Estate Monitoring, in May 2026, Xiamens secondhand residential property transactions reached 2,345 units, with a total transaction area of 228,100 square meters. Compared to the previous month, the number of transactions decreased by 18.7% and the transaction area decreased by 13.8%, but compared to the same period last year, the number of transactions increased by 37.1% and the transaction area increased by 33.7%. For the third consecutive month, the transaction volume has remained above the 2,200-unit benchmark, indicating a stable market foundation. Echoing the recovery trend in the secondhand housing market, Xiamens new housing market has also reached a stabilization turning point, ending the previous month-on-month decline and showing a steady improvement. Looking ahead to the second half of 2026, the structural recovery trend in Xiamens real estate market is expected to continue. In the short term, the mid-year push by real estate companies in June is expected to drive a rebound in new housing supply, with continued release of pent-up demand; the secondhand housing market is expected to maintain a moderate recovery in the short term.Bank of Japan Deputy Governor Ryozo Himino: We will not comment on market pricing for future interest rate hikes.

USD / JPY fluctuates above 133.00, and a decline appears likely as the Fed continues its gradual rate hikes

Daniel Rogers

Mar 14, 2023 14:07

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The USD / JPY currency pair is fluctuating above 133.00 during the Asian session. The asset has recovered from 132.50 but is unable to extend gains due to the lack of strength in the US Dollar Index (DXY) following the Silicon Valley Bank (SVB) debacle. The loss of market participants' confidence in the United States banking system has drastically diminished the appeal of safe-haven assets.

 

Futures for the S&P 500 have recovered a portion of Monday's losses, indicating a slight improvement in market sentiment. The USD Index is attempting to reclaim the immediate resistance level of 103.80, but the upside appears constrained due to expectations that the Federal Reserve will continue its modest rate increase cycle (Fed). The USD Index has been impacted by the market's reduction of 50 basis points (bps) in expected rate increases.

 

In the meantime, the demand for U.S. government bonds is declining, which may indicate a transition away from safe-haven assets. The yield on 10-year US Treasury bonds has risen above 3.56 percent.

 

Tuesday's release of United States Consumer Price Index (CPI) data would be a major market mover. Analysts at Wells Fargo anticipate "another 0.4% monthly increase in the aggregate CPI in February, bringing the annual rate to 6.0%." We still anticipate a decline in inflation, but the process is likely to be irregular and lengthy. Despite some direction improvement over the past few quarters, prices continue to rise well above the Fed's 2% objective, and the constrained labor market suggests that inflationary pressures may prevent a full return to 2%.

 

Hirokazu Matsuno, the chief cabinet secretary of Japan, stated on Monday that they do not anticipate the SVB fallout to have a significant impact on the country's financial institutions. He added, "Japan's financial institutions have adequate liquidity and capital base overall."

 

The minutes of the Bank of Japan's (BoJ) most recent monetary policy meeting, which was conducted by former BoJ Governor Haruhiko Kuroda, will be attentively examined going forward.


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