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July 2nd - Two sources familiar with the matter revealed that Japan is gradually reducing its practice of issuing early warnings of intervention risks, instead taking more targeted actions to combat speculators and increase the cost of shorting the yen. The sources stated that, unlike previous cautious verbal warnings before intervention, the Ministry of Finance may suddenly intervene to clear speculative yen positions. Officials are also avoiding mentioning any specific "bottom line" exchange rate levels that might trigger intervention. This shift reflects a more aggressive strategy from the Ministry of Finance, using silence as a policy tool to make the market unpredictable. The sources indicated that this increases the risk of sudden intervention, and the driving factor for this intervention may be the accumulation of speculative short yen positions, rather than the yen exchange rate breaking through a publicly recognized threshold. Two other sources said that this move by the Ministry of Finance, along with the Bank of Japans continued hawkish rhetoric, indicates that both sides are taking coordinated action to curb yen shorting.The yield on Japans 30-year government bonds rose 4.5 basis points to 4.000%, the highest level since May 22.Market sources say Japan is gradually reducing its practice of issuing early warnings and interventions to focus instead on cracking down on speculators. The timing of interventions is not targeted at the yens level, but rather aimed at preventing excessive depreciation.July 2nd - According to Nikkei, Apple plans to launch an ambitious iPhone lineup in the second half of this year and the first half of 2027, including at least five new models, and will increase foldable phone production to higher levels than previously expected in order to seize market share amid industry-wide shortages of key components. Sources familiar with the matter said Apple has asked suppliers to prepare production of approximately 10 million foldable iPhones this year, higher than the 7 to 8 million units predicted in previous months. The company has already ordered approximately 80 million smartphone-related components and parts for these new models, which will launch in the second half of 2026, including the iPhone Pro, iPhone Pro Max, and the first foldable iPhone. Sources indicated that compared to most competitors, Apple has stronger bargaining power in the procurement of memory and key components, and Apples total iPhone production in 2026, including existing and upcoming models, is expected to far exceed 220 million units.According to Nikkei: Apple will launch five new iPhone models.

Gold Prices Depreciate When Treasury Yields Increase

Larissa Barlow

Apr 22, 2022 10:04

On Thursday, gold prices fell as the currency gained strength. Treasury rates have continued to rise in the aftermath of a strong jobless claims data. The yield differential widened in favor of the Euro and the Yen, exerting downward pressure on the dollar. For April, the Philadelphia Fed reported a weaker-than-expected reading of 17.6, compared to forecasts of around the trailing year-to-date average of 21.

 

Initial Jobless Claims were 184,000 for the week ending April 16, down 2,000 from the previous week but well ahead of expectations of 182,000. Continuing claims, which are released one week after the headline figure, decreased by 58,000 to 1.417 million, the lowest level since February 21, 1970. 

Technical Evaluation

On Thursday, gold prices fell. Prices were unable to break through resistance near the 1,958-day moving average. At 1,933, support is located near the 50-day moving average.

 

Momentum has shifted negative in the short term as the Fast Stochastic generated a crossover sell signal. Both the RSI and the Fast Stochastic are in the neutral zone, indicating that the gold price has been consolidating.

 

The MACD has generated a crossover sell signal, indicating that the medium-term momentum has become negative. As the MACD line crosses below the MACD signal line, this occurs. The MACD (moving average convergence divergence) histogram exhibits a downward trend, indicating decreasing prices and accelerating downward momentum.

 

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