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On January 8, Tianyancha intellectual property information showed that on January 7, the patent for "a sealing structure and vehicle with a B-pillarless body" applied by SERES Automobile Co., Ltd. was authorized.Indias gold imports in November were revised down to $9.84 billion from an earlier estimate of $14.86 billion, the sources said.Futures News on January 8, the latest data from the UAE Fujairah Oil Industry Zone showed that as of the week of January 6, the total inventory of refined oil at the UAE Fujairah Port was 17.61 million barrels, an increase of 2.07 million barrels from the previous week, reaching a two-week high. Among them, light distillate oil inventories increased by 466,000 barrels to 6.534 million barrels, and medium distillate oil inventories increased by 183,000 barrels to 2.151 million barrels, both of which were two-week highs; heavy residual fuel oil inventories increased by 1.421 million barrels to 8.925 million barrels, a three-week high.Sources said Indias gold imports fell sharply by $5 billion in November, the biggest drop.On January 8, analysts at Danske Banks research department said in a report that the rise in U.S. Treasury yields was driven by rising term premiums rather than market expectations of the Feds policy rate. They pointed out that with less than two weeks to go until Trumps inauguration on January 20, the market is focused on policy, tariffs and deficits. Long-term bond yields are rising due to a sharp repricing of the term premium. We attribute these changes to market supply concerns, which may be related to the fiscal outlook. Analysts expect the Fed to continue quarterly rate cuts starting in March and expect long-term bond yields to fall modestly in 2025.

A decrease in the EUR/JPY exchange rate is about to occur as recession fears grow. It is now over 138.00

Alina Haynes

Jul 07, 2022 14:43

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The EUR/JPY currency pair is doing poorly during the Tokyo session. The cross is bouncing around a narrow range of 138.26-138.60 after recovering from its low of 137.27 on Wednesday. Generally speaking, bears are in charge of the asset. The pair has fallen during the last week as a result of failing to overcome the 144.00 resistance level, which has been a barrier for four weeks.

 

The chance of a recession in the eurozone has significantly increased as a result of the Bank of England's (BOE) negative assessment of the global economy. The BOE believes that price volatility in raw materials and energy might lead to economic disruptions in the future. The negative outlook of a Western central bank is fundamentally harmful to the FX market. The shocks to the economy would undoubtedly harm the eurozone as well because it forbids the import of Russian oil.

 

Along with fears of a recession, the common currency's bulls are also plagued by disputes over gas supplies between the economies of Europe and the United Kingdom. The British government has said that it would stop exporting gas to Europe if shortages develop there in the upcoming months.

 

The underperformance of the wage-price notion in Tokyo worries the Bank of Japan (BOJ). In order to keep inflation rates close to target levels, according to the BOJ, pay increases are required. If not, families would face greater price pressures, which would result in a decrease in the overall volume of demand.


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