Japan Finance Minister Advocates Market-Driven Currency Rates
Japan Finance Minister Advocates Market-Driven Currency Rates Japan’s Finance Minister, Shunichi Suzuki, delivered a clear message on Friday, advocating for market-driven currency rates as essential for the nation’s economic stability. While expressing concerns about sudden and sharp currency fluctuations, Suzuki refrained from hinting at any immediate intervention measures to counter the weakening yen, even as […]
USD/CAD Hovers at 1.3510 Despite Oil Strength, Awaits US NFP and Canada GDP Data
USD/CAD Hovers at 1.3510 Despite Oil Strength, Awaits US NFP and Canada GDP Data The USD/CAD pair remains in a defensive stance around 1.3510, rebounding from its two-week low as it enters the European session on Friday. This resilience comes even as the pair fails to respond positively to the surging prices of Canada’s primary […]
Mixed Performance in Asian Stock Markets Ahead of Key US PCE Data
Mixed Performance in Asian Stock Markets Ahead of Key US PCE Data Asian stock markets are giving mixed results on Thursday as investors eagerly wait for the PCE Price Index. This index is an important way to measure how prices for things are going up, and the Federal Reserve likes to watch it. The index […]
WTI Hovers Below $80 as China Growth Concerns and US Rate Hike Fears Persist
WTI Hovers Below $80 as China Growth Concerns and US Rate Hike Fears Persist As the trading week unfolds, the Western Texas Intermediate (WTI) crude oil benchmark finds itself hovering around the $79.85 mark on Tuesday, revealing a minor upward shift following a pullback from the $80.68 level. The oil market remains ensnared in the […]
UK Shop Price Inflation at 10-Month Low
UK Shop Price Inflation at 10-Month Low The rate of price increases in UK stores has decelerated to its slowest growth rate since October, as reported by the British Retail Consortium (BRC). The BRC revealed that prices climbed by 6.9% in the year leading up to August, down from July’s 8.4%. The primary driver behind […]
S&P500 Futures rise, yields steady after big moves, central bankers in focus
S&P500 Futures rise, yields steady after big moves, central bankers in focus S&P500 Futures are slightly up, and interest rates have steadied after some big changes. People are paying attention to central bankers. The mood in the market is somewhat positive, but it’s struggling to stay as upbeat as yesterday. This week, there are important […]
Softening Core Inflation in Japan Supports Expectation of Unchanged BOJ Stance
Softening Core Inflation in Japan Supports Expectation of Unchanged BOJ Stance The latest consumer price data from Japan shows that core inflation slowed in July, indicating the Bank of Japan (BOJ) is unlikely to rush towards phasing out monetary easing despite the fact that inflation continues to be above the central bank’s 2% target. The […]
WTI Crude Oil Steadies Around $82.30 Ahead of EIA Report and US Inflation Figures
WTI Crude Oil Steadies Around $82.30 Ahead of EIA Report and US Inflation Figures In the early European session on Wednesday, WTI, the benchmark for US crude oil, is exhibiting little movement as prices fluctuate within a narrow range of $82.20 to $82.45. The market is grappling with concerns over China’s dwindling demand for oil […]
Japanese Yen Weakens Despite Unusual FX Warning from Ueda
Japanese Yen Weakens Despite Unusual FX Warning from Ueda The Japanese yen’s decline persists following the Bank of Japan’s (BOJ) unexpected adjustment to its yield curve control program. This shift has drawn the attention of central bank officials, especially since Governor Kazuo Ueda broke tradition by acknowledging that currency considerations influenced policy decisions. Ueda’s disclosure […]
Chinese Traders to Gradually Restart Australian Barley Imports
Chinese Traders to Gradually Restart Australian Barley Imports Chinese traders are poised to resume importing Australian barley following an announcement by China’s Ministry of Commerce (MOFCOM) stating an end to anti-dumping and countervailing duties on the crop, effective from Saturday. Industry sources informed the Global Times about the development, which is seen as a response […]
USD/CAD settles at 1.3350, a one-month high, as the Oil price and US Dollar weaken
USD/CAD settles at 1.3350, a one-month high, as the Oil price and US Dollar weaken The USD/CAD currency pair has stabilized around the 1.3350 mark, a significant one-month high, in a volatile market landscape where key US economic data is keenly anticipated. This relative steadiness is due to a mix of contributing factors, including the […]
BOJ’s Policy Adjustment Indicates No Departure from Ultra-Low Rates – Deputy Governor
BOJ’s Policy Adjustment Indicates No Departure from Ultra-Low Rates – Deputy Governor The Bank of Japan (BOJ) recently made changes to its bond yield control policy with the intention of ensuring the sustainability of its massive stimulus, rather than signaling an exit from ultra-low interest rates, according to Deputy Governor Shinichi Uchida. On Wednesday, Uchida […]
Banks Forecast Tougher Loan Conditions for Businesses and Consumers
Banks Forecast Tougher Loan Conditions for Businesses and Consumers Lending conditions for businesses and consumers in the United States are currently tight, and they are expected to become even more stringent, as indicated by a recent Federal Reserve survey released on Monday. The closely monitored Senior Loan Officer Opinion Survey revealed that credit conditions have […]
USD/CAD holds above the 1.3200 mark with limited upside potential
USD/CAD holds above the 1.3200 mark with limited upside potential During Tuesday’s Asian session, the USD/CAD pair exhibited a modest rebound, managing to recover most of the losses experienced in the previous trading session. Presently, the pair is hovering around the 1.3220 mark, reflecting a modest 0.25% increase for the day. This recent price action […]
US Dollar Index Reaches Near Two-Week High Amid Firm Yields
US Dollar Index Reaches Near Two-Week High Amid Firm Yields The US Dollar Index (DXY), a measure of the US dollar’s value against a basket of six major currencies, has been experiencing a steady uptick. It reached near two-week highs during the early Asian trading session on Tuesday, hovering around 101.45-40. This trend marks the […]
RBNZ Maintains Wait-and-See Approach Despite CPI Indications
RBNZ Maintains Wait-and-See Approach Despite CPI Indications The Reserve Bank of New Zealand (RBNZ) continues to adopt a cautious approach, refraining from making immediate changes to its monetary policy despite the latest inflation data. This wait-and-see stance comes even as the Consumer Price Index (CPI) shows signs of an inflationary trend. In parallel news from […]
Challenges Remain Despite Significant Progress in US Inflation
Challenges Remain Despite Significant Progress in US Inflation Headline inflation has reduced to a fraction of its peak, yet the contribution from shelter alone exceeds the Federal Open Market Committee’s (FOMC) annual target of 2.0%. In June, both headline and core Consumer Price Index (CPI) outcomes fell short of expectations at 0.2%, resulting in respective […]
Asian Currency Markets Subdued Amid Fears of Rate Hikes and Intervention Speculation
Asian Currency Markets Subdued Amid Fears of Rate Hikes and Intervention Speculation Asian currency markets remained mostly stable on Friday as investors were looking for more indications regarding U.S. interest rate hikes. However, both the Chinese yuan and Japanese yen saw a slight rise due to ongoing speculation about potential government intervention in the currency […]