EUR/USD 1.16638
-0.079%
Gold 4637.82
-0.446%
Oil 80.357
-0.400%
USD/JPY 159.004
-0.124%
GBP/USD 1.36328
-0.104%
GBP/JPY 216.772
-0.223%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 26th, Tang Daosheng, Senior Executive Vice President of Tencent Group and CEO of the Cloud and Smart Industries Group, published an article in Tencents internal publication addressing external criticisms that "Tencent is slow in its AI development." He responded that its impossible not to feel anxious. "The Hunyuan large-scale model has undergone multiple reconstructions. Hunyuan Hy3 performs exceptionally well among large models with similar parameters, but due to the companys overall insufficient computing power, model training and product development have been slowed down, resulting in significant impacts." Tang Daosheng stated that getting started early may not be the most crucial factor; the second half of the AI era has only just begun. Only by persevering can one seize the continuously emerging new opportunities.On August 26, European Central Bank Executive Board member Schnabel stated that the protracted Middle East conflict, coupled with unexpectedly strong Eurozone economic performance, poses upside risks to inflation, necessitating further interest rate hikes. Consumer price increases could exceed 2% for an "extended period," and policymakers will be behind the curve if action is delayed until these effects are transmitted to wages. She stated, "At current interest rates, inflation is unlikely to return to the target level in the medium term, thus requiring further policy tightening. Especially given the current resilient aggregate demand, preventing a second round of effects early is crucial, as acting too late may require more aggressive tightening measures." She pointed out that fiscal policy, increased defense spending, and the global AI boom are key drivers of strong economic growth. Schnabel warned that energy price pressures, excluding oil, are becoming more persistent. Given low European gas inventory levels, the gas market is particularly worrying, "posing a substantial upside risk to inflation. The longer the conflict lasts, the greater the risk and intensity of indirect and second-round effects."Tibo, Product Manager at OpenAI Codex: Good products take time. At least 34 days.ANZ Bank now expects the Reserve Bank of Australia to raise interest rates by 25 basis points in November.August 26th - As markets closely watch for clues about the timing of the Bank of Japans next interest rate hike, BOJ watchers will be closely monitoring Deputy Governor Ryozo Himinos speech on Thursday. SMBC Nikko Securities strategist Ataru Okumura stated, "While there are limitations to how much a single speech by a BOJ deputy governor can guide market expectations, the focus will be on how firm his wording is on controlling inflation." Okumura added that although the bond market firmly expects the BOJ to raise rates sooner rather than later, investors doubt the banks ability to push rates above the restrictive level of 2%, making the future path of interest rates a key focus for the market.

The Japanese Yen at the Pump Again, as PMI Friday commences. Where can I buy USD/JPY?

Larissa Barlow

Apr 02, 2022 09:54

Tips 

  • The Japanese Yen resumed its unbroken downward march.

  • In a rather calm session, APAC equities were mixed.

  • Prior to the US non-farm payrolls, a series of PMIs will be released.

 

The Japanese yen fell more today, but the other G-10 currencies remained relatively stable. It was left to its own devices in the absence of any commentary/jawboning from Bank of Japan (BOJ) officials.

 

Japan's Jibun Bank PMI increased from 54.1 last month to 54.1, while China's Caixin PMI fell short of expectations at 48.1.

 

APAC equities markets remained quiet following a more than 1.5 percent decline in Wall Street's three major indices. Hong Kong and Japan ended slightly down, the Chinese mainland ended slightly higher, and the Australian share market ended flat heading into the weekend.

 

Crude oil appears to be vulnerable, with the WTI futures contract trading below US$ 100 a barrel. Brent is currently trading at roughly US$ 104.50. Gold has been relatively stable, selling about US$ 1,937 an ounce.

 

Government bond yields have increased marginally in Asia, with the benchmark 10-year Treasury note nearing 2.4 percent. The carefully studied 2-10's segment of that curve momentarily dropped into negative territory and remains close to inversion at 0.005 percent.

 

Following European PMIs and the Eurozone's aggregate CPI figure, the US will receive March non-farm payrolls data, with predictions of 490,000 jobs added, according to a Bloomberg survey. Later this week, the US and Canadian PMIs will be issued, followed by the ISM manufacturing survey for the United States.

 

Additionally, a number of ECB and Fed speakers will cross the wires.

Technical Analysis of the USD/JPY

USD/JPY began the week on a strong note, surging to its highest level since 2015.

 

The August 2015 and June 2015 peaks of 125.28 and 125.86, respectively, fell barely shy of the 125.108 record. These levels may continue to act as a barrier.

 

The explosion in volatility can be observed in the breadth of the Bollinger Band based on the 21-day simple moving average (SMA), which expanded considerably throughout the move.

 

It has since returned within the band's confines, initially testing support at the 10-day SMA at 121.317, which held. If tried again, that level may provide support.

 

As expected, all short, medium, and long-term SMAs are pointing upward. A persistent move below the 10-day SMA may provide insight into whether or not that momentum is about to stall.

 

image.png 


Suggestion