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The Hang Seng Tech Index rose more than 1%, and the Hang Seng Index rose more than 0.6%.January 10th, ANZ Bank currently expects the Reserve Bank of Australia to cut interest rates in February, but dont get too excited because the upcoming easing cycle will disappoint those who hope for a big rate cut. Adam Boyton, head of Australian economics at ANZ Bank, expects only two rate cuts, the second of which will be in August. If he is right, the RBA will need to work hard to manage disappointment in certain areas of the economy, such as small businesses that have experienced a lot of failures. This will not help home buyers much either. The fact is that the RBA has not raised interest rates as much as other central banks, so there is little room for big rate cuts.The Hang Seng Index in Hong Kong opened up 87.18 points, or 0.45%, at 19,328.07 points on January 10 (Friday); the Hang Seng Technology Index in Hong Kong opened up 23.47 points, or 0.54%, at 4,335.01 points on January 10 (Friday); the CSI 300 Index opened up 32.68 points, or 0.47%, at 7,011.65 points on January 10 (Friday); the H-share Index opened up 11.31 points, or 0.31%, at 3,609.65 points on January 10 (Friday).USD/CNY reported 7.1891, up 5 points (RMB depreciation); EUR/CNY reported 7.4527, down 167 points; HKD/CNY reported 0.92389, down 1.5 points; GBP/CNY reported 8.9045, down 472 points; AUD/CNY reported 4.4931, down 154 points; CAD/CNY reported 5.0359, down 131 points; JPY/CNY reported 4.5961, up 17 points; RMB/RUB reported 13.9473, down 3062 points; NZD/CNY reported 4.0722, down 84 points; RMB/RMB reported 0.62121, down 9 points; CHF/CNY reported 7.9210, down 154 points; SGD/CNY reported 5.2899, down 29 points.Hang Seng Index futures opened up 0.05% at 19,315 points, 74 points higher than the previous session.

EUR/JPY hits resistance at 143.30 despite Japan's dismal Unemployment data

Daniel Rogers

Jul 01, 2022 11:12

 截屏2022-07-01 上午9.40.47.png

 

The EUR/JPY pair is facing resistance at 143.30 despite the increase in Japan's Unemployment Rate. According to the Statistics Bureau of Japan, the unemployment rate is 2.6%, which is higher than both estimates and the previous number of 2.5%. The ratio of job openings to applicants has climbed to 1.24, which is higher than the previous reading of 1.23 and in line with the consensus prediction of 1.24.

 

Rising employment prospects in the Japanese economy suggest that the Bank of Japan's (BOJ) conservative monetary policy is fostering job creation. The availability of inexpensive money in the economy fosters aggressive corporate investment. In addition, the rising exports of the economy and the inexpensive Japanese yen are boosting the labor market. In FY2021, Japan's tax revenue surpassed 67 trillion yen - Nikkei. A rise in the economy's tax revenue may provide support for the yen bulls.

 

The bulls of the shared currency await the publication of the Harmonized Index of Consumer Prices on the eurozone front (HICP). According to forecasts, the annual inflation rate might rise from 8.1 percent to 8.3 percent. Christine Lagarde, president of the European Central Bank (ECB), stated that despite a slew of rate hike announcements, a return to a lower inflation environment is exceedingly improbable.


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