• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
June 4th - The Federal Reserve stated that economic activity in most parts of the United States has grown at a moderate pace in recent weeks, while employment has remained largely unchanged. In its latest Beige Book, the Fed indicated that inflation levels in most Fed districts were higher than in the previous report, primarily due to the impact of the Middle East wars on energy prices. Since the outbreak of the war with Iran, rising energy prices have raised concerns about sustained inflation, leading more policymakers to believe they need to retain all policy options, including a tighter monetary policy. However, many officials stated that current interest rate conditions remain favorable.The Central Bank of Tunisia maintained its benchmark interest rate at 7%.June 4th - The Federal Reserve stated on Wednesday that U.S. economic activity has increased slightly in recent weeks, while employment has remained largely flat, and the effects of rising energy prices due to the Middle East conflict have spread across various sectors. In its latest Beige Book report, the Fed stated, "The business outlook for the next six months is little changed in terms of expected growth, as heightened uncertainty and signs of weak consumer spending dampened market sentiment." The report added, "Regions noted that energy costs related to the Middle East conflict were the primary driver of inflationary pressures, with their impact spilling over into the transportation, packaging, grocery, and fertilizer sectors."Hungarian Prime Minister Majol: This agreement may pave the way for Hungary to approve the first phase of Ukraines accession negotiations with the EU.Hungarian Prime Minister Majol: The government does not support accelerating the negotiations for Ukraines accession to the European Union.

In the face of weak yields ahead of FOMC and NFP, USD/JPY maintains a position below 148.40

Daniel Rogers

Oct 31, 2022 16:39

 截屏2022-10-31 上午11.13.13.png

 

The USD/JPY pair surpasses 148.0 for the second day in a row, gaining 0.45% but retreating from the day's peak of 148.26. Recent inactivity in the yen pair may be related to the market's ambivalence as well as nervousness ahead of the Federal Open Market Committee (FOMC) meeting announcements and the October US employment report.

 

Despite this, the 10-year US Treasury rate fluctuates at 4.00% after ending a 10-week uptrend on Friday. The inconsistent performance of stocks adds to the challenge for USD/JPY traders, as US equity futures report minor losses as the Dow Jones prepares for its highest monthly gain since 1976.

 

Industrial Production in September was dismal, while Retail Sales earlier in the day buoyed yen bulls. According to Reuters, "Japan's factory output fell in September for the first time in four months as manufacturers grappled with rising raw material costs and a worldwide economic crisis," and is anticipated to fall again in October before recovering in November.

 

As a result of the US dollar's function as a safe haven, the USD/JPY appreciates in response to news of the shutdown of a casino resort in Macau and concerns emanating from Russia. Russia, which invaded Ukraine on February 24, halted its participation in the Black Sea agreement for a "indefinite period" on Saturday because it could not "guarantee the protection of civilian ships" traveling under the treaty after its Black Sea naval was attacked. Fears that the Fed may suggest a reduction in the rate of rate hikes beginning in December appear to be pressuring pair buyers recently.

 

In contrast to the Fed's hawkish posture, the Bank of Japan's (BOJ) unwillingness to alter monetary policy keeps USD/JPY buyers confident.