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On Semiconductor (ON.O) reported Q2 2026 revenue of $1.6 billion, compared to market expectations of $1.59 billion; it expects Q3 revenue to be between $1.65 billion and $1.75 billion, compared to market estimates of $1.67 billion.Palantir (PLTR.O) reported revenue of $1.93 billion in Q2 2026, compared to market expectations of $1.805 billion and $1.003 billion in the same period last year.The Dow Jones Industrial Average rose 693.38 points, or 1.32%, to close at 53,178.41 on Monday, August 3; the S&P 500 rose 110.78 points, or 1.48%, to close at 7,600.50 on Monday, August 3; and the Nasdaq Composite rose 540.04 points, or 2.13%, to close at 25,913.90 on Monday, August 3.On August 4th, U.S. stocks closed higher. The Dow Jones Industrial Average initially rose 1.3%, hitting a new closing high; the S&P 500 rose 1.48%, and the Nasdaq Composite rose 2.1%. Microsoft (MSFT.O) and Google (GOOG.O) rose nearly 5%, Tesla (TSLA.O) and Nvidia (NVDA.O) rose around 3%, and Meta (META.O) rose 6%. SanDisk (SNDK.O) rose 6%, while SK Hynix (SKHY.O) fell 0.7%. The Nasdaq China Golden Dragon Index closed up 0.75%, and Alibaba (BABA.N) rose 4%.On August 4th, Evercore ISI stated that prolonged use of the Federal Reserves foreign and international monetary authorities repurchase facility could prompt the market to test the resolve of the US and Japan to maintain the yens exchange rate. This facility allows overseas institutions to obtain dollars using their holdings of US Treasury bonds as collateral, without having to raise cash by selling bonds in the open market. However, each counterparty has a daily limit of $60 billion. Evercore strategists noted that this limit is only slightly higher than the estimated amount Japan used to intervene in the foreign exchange market last Thursday. "We believe there is a counterproductive risk in the market focusing on the capped repurchase facility; if strengthening the yen requires large-scale sales of US Treasury bonds, this could prompt the market to test the resolve of the US and Japan," they said. They added that the facility is designed to provide short-term liquidity support, not as a persistent source of funding, so any borrowing must be rolled over for continued use. Furthermore, the facility is "relatively expensive," and the Federal Reserve intends to set these rates above the cost of private repurchase financing, indicating that the facility is not intended for daily financing or sustained foreign exchange intervention.

The AUD/JPY exchange rate fluctuates below 90.00 as investors await BoJ action

Alina Haynes

Jan 18, 2023 15:03

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In the early Asian session, the AUD/JPY currency pair is bouncing violently in a narrow range below the resistance level of 90.00. Before the Bank of Japan introduces its first monetary policy of CY2023, the risk barometer indicates a sideways auction (BoJ). The AUD/JPY exchange rate reflects the consolidation of the AUD/USD, indicating an uncertain risk profile.

 

Investors anticipate that the Bank of Japan (BoJ) will not alter its policy stance on Friday, as doing so would increase financial market risk and hinder efforts to boost inflation. Previously, the Bank of Japan (BoJ) announced that the central bank will review the negative side effects of the decade-long ultra-loose monetary policy, generating the impression that the central bank is eager to abandon the easy policy.

 

The experts at Standard Charted expect the Bank of Japan to hold both the policy balance rate and the 10-year yield goal at their present levels of -0.1% and 0%, respectively. The recent decision to expand the 10-year JGB band to +/-50 bps (from +/-25 bps) will be evaluated by policymakers at the December meeting.

 

The replacement of current Governor of the Bank of Japan Haruhiko Kuroda will be widely followed. The next BoJ governor nominee is anticipated to be presented to the Japanese parliament on February 10, Reuters reported on Tuesday. Amamiya, Nakaso, and Yamaguchi are regarded as leading C.banking candidates.

 

Thursday is the expected publication date for Australian employment statistics, which investors are monitoring. The Unemployment Rate is expected to remain constant at 3.4%, according to the majority of economists. Aside from this, the Australian economy must have added 22,500 new jobs to the labor market in December, a down from the prior rises of 64K.

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