EUR/USD 1.15943
-0.019%
Gold 4157.00
-0.163%
Oil 58.987
0.929%
USD/JPY 156.316
-0.081%
GBP/USD 1.32358
-0.056%
GBP/JPY 206.903
-0.125%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On November 28th, it was reported that Bank of Americas systemic importance was upgraded by the Financial Stability Board (FSB), meaning it will face higher capital requirements. In the FSBs list of Global Systemically Important Banks (GSIBs), the bank was moved to the third highest tier. The additional capital buffer required by the company increased from 1.5% to 2%. Deutsche Bank was downgraded one tier, with its additional capital requirement decreasing to 1%. Aside from these changes compared to the previous year, there were no other adjustments.On November 28th, the British government announced a postponement of sanctions against the international operations of Russias Lukoil company, the latest example of Western countries taking a cautious approach towards the energy giant. The UKs Financial Sanctions Enforcement Office stated that the grace period for sanctions against Lukoil International Limited and its subsidiaries will be extended to February 26th next year. The sanctions were originally scheduled to take effect at midnight on November 28th. Lukoil, along with another Russian energy giant, Rosneft, was also sanctioned by the United States in October, with some of those sanctions also receiving extensions.Hang Seng Index futures closed down 0.03% at 25,935 points in overnight trading, 11 points lower than the benchmark.A suspected terrorist attack has been reported near Jerusalem, resulting in one person being shot.Ukrainian President Zelensky: The Ukrainian and U.S. delegations will meet this week to work on the issues raised in the Geneva talks in order to achieve peace and provide security guarantees for Ukraine.

As Japan Prepares for BOJ Amamiya to Handle Monetary Policy, the EUR/JPY Rebounds from 142.00

Daniel Rogers

Feb 06, 2023 16:09

After falling to approximately 142.00 during the Asian session, the EUR/JPY pair has made a robust recovery. According to a Nikkei article published by Bloomberg, the Japanese government is aiming to recruit Bank of Japan (BoJ) Deputy Governor Masayoshi Amamiya to replace Haruhiko Kuroda as the head of the central bank.

 

In February, the nominees for Kuroda's replacement will be finalized, and discussions for a change from the ultra-loose monetary policy of the past decade will intensify.

 

The BoJ has already widened the yield curve to boost flexibility. Deputy Governor of the Bank of Japan Masazumi Wakatabe noted last week, "BoJ's December decision to broaden band was a necessary step to make YCC more sustainable, but the move alone may have undermined the effect of the stimulus."

 

For renewed impetus in the Eurozone, investors anticipate the release of Retail Sales data. The economic statistics is expected to drop by 2.7% annually, compared to the prior annual contraction of 2.8%. It is projected that the monthly data will decrease by 2.5% compared to the 0.8% growth reported earlier.

 

The Eurozone economy has suffered a decrease in consumer spending for five consecutive months, which will satisfy the European Central Bank (ECB) as it reduces its forecasts for the Consumer Price Index (CPI).

 

Pierre Wunsch, a member of the ECB Governing Council, told Reuters on Friday that the ECB will not reduce its benchmark interest rate from 50 basis points (bps) in March to zero in May. May might see a 25 or 50 basis point increase, according to Wunsch.


Suggestion