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Japanese Economy, Trade and Industry Minister Yoji Muto: The online meeting with US counterparts was held before the tariffs were announced.Japanese Minister of Economy, Trade and Industry Yoji Muto: We have told the United States that tariff measures may hinder Japanese companies investment in the United States.Japanese Economy, Trade and Industry Minister Yoji Muto: We will consider various options to determine what is best for Japan.Japanese Minister of Economy, Trade and Industry Yoji Muto: We have told the United States that the tariff measures will be detrimental to both Japan and the United States.On April 3, Morningstar Information (MORN.N) released its 2024 financial report. The companys full-year revenue in 2024 was US$2.3 billion, an increase of 11.6% over the previous year; consolidated operating profit reached US$484.8 million, a year-on-year increase of 110.2%; cash flow from operating activities was US$591.6 million, a year-on-year increase of 87.0%; free cash flow reached US$448.9 million, a year-on-year increase of 127.5%. In terms of business, credit business is the main driving force for the companys revenue growth, achieving a 35.1% increase, and the adjusted operating profit margin rose to 26%, an increase of 15.9 percentage points over the previous year. In addition, in 2024, the companys investment management and consulting assets increased by 12.3% and 19.7% respectively over the previous year. At the same time, the companys investment advisory accounts achieved double-digit growth in 2024.

As Oil Bulls Relax And US Inflation Is Monitored, USD/CAD Recovers Around 1.3350

Daniel Rogers

Feb 13, 2023 14:42

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The USD/CAD rebounds from a five-week low. After a solid employment report and an increase in oil prices, Loonie bears joined the market. Before the release of the US CPI, aggressive Fed comments and good US data test sellers.

 

After falling the most in five weeks the previous day, the USD/CAD is fluctuating around the middle of the 1.3300s in the early Asian session on Monday. Ahead of US Consumer Price Index (CPI) data, the Loonie/U.S. dollar pair exhibits market consolidation amid mixed US signals.

 

After a strong Canadian employment report and a rise in WTI crude oil prices, the Loonie pair dropped the most since the beginning of January.

 

WTI crude oil reached a new monthly high of $80.48 the day before, despite market rumors that Russia may reduce oil production by 500,000 barrels in March to counter European penalties.

 

The Net Change in Employment for January in Canada increased to 150K from 15K expected and 69.2K revised. The unemployment rate was 5.0%, not 5.1%.

 

As evidenced by BoC Governor Tiff Macklem's dovish comments, the stronger Canadian employment report makes it tougher for the Bank of Canada to pause its rate hike trajectory, benefiting USD/CAD bears.

 

Nevertheless, preliminary US University of Michigan (UoM) Consumer Sentiment for February increased to 66.4 from 65.0 anticipated and 64.9 previously. This month, the UoM announced that inflation forecasts for the coming year jumped to 4.2% from 3.9% in January and 4.4% in December. UoM said that long-term inflation estimates (5-year) stayed at 2.9% for the third consecutive month and remained within a narrow band of 2.9% to 3.1% for 18 of the last 19 months. Friday, the US Bureau of Labor Statistics adjusted the December Consumer Price Index (CPI) from -0.1% to 0.1% based on revised seasonal adjustment variables.

 

Recent contradicting statements from Richmond Federal Reserve (Fed) President Thomas Barkin and the US-China dispute over "unidentified objects" appear to challenge sentiment and boost the USD due to its safe-haven status.

 

S&P 500 Futures decrease as interest rates on US Treasury bonds increase, benefiting the US Dollar and USD/CAD buyers ahead of critical US inflation data.

 

Due to reports of a Fed policy shift, USD/CAD traders should monitor risk catalysts before to the January US Consumer Price Index (CPI) release on Tuesday.


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