EUR/USD 1.16271
0.112%
Gold 4414.34
-0.461%
Oil 90.999
1.754%
USD/JPY 154.387
-1.182%
GBP/USD 1.35393
0.155%
GBP/JPY 209.036
-1.027%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
German government bonds continued to fall, with the two-year yield rising 5 basis points to 3%.Copper prices surged to a record high on the London Metal Exchange on September 7, boosted by weeks of gains fueled by market expectations that President Trump would extend US tariffs to refined metal imports. LME benchmark three-month copper futures rose as much as 0.8% to $14,533 per tonne, a new record set in January. Copper prices have risen 17% over the past year, supported by a long-standing supply-demand mismatch – a backdrop against which aging large mines worldwide are struggling to keep up with demand from data centers, renewable energy, and the power grid, a backdrop that has bullish investors for years. However, short-term factors are in focus, particularly the hundreds of thousands of tons of copper shipped to the US this year by traders seeking to profit from higher prices. About two months after the US Commerce Department submitted its recommendations to the White House, the market is still pricing in the possibility of tariffs.1. Shipping authorities and commodity traders said on Monday that the Rhine River in Germany has seen its water level drop again due to the ongoing drought, forcing cargo ships to reduce their loads once more. However, the current level remains well above the record low reached in August. The Rhine is a vital transport route for grains, minerals, coal, and refined petroleum products. 2. Consulting firm AgRural reported that with the end of the soybean planting ban and favorable rainfall, some areas in Paraná state, Brazil, have begun planting, marking the official start of the 2026/27 soybean planting season. As of last Thursday, the planted soybean area in Brazil accounted for 0.05% of the estimated total area, compared to 0.02% at the same time last year. In Brazils south-central region, the first quarterly corn planting area for the 2026/27 season reached 17% of the estimated total area, up from 11% the previous week and 12% at the same time last year. 3. Thailands sugar production for the 2026/27 season is expected to decline significantly due to drought. Executives at Thai sugar mills stated that sugar production in Thailand may fall below 10 million tons in the 2026/27 crushing season, which begins in October, a decrease of at least 17% compared to the approximately 12 million tons produced in the previous season. The El Niño phenomenon continues to intensify, and Thailand is facing insufficient rainfall in some major producing areas. The northeastern region, which accounts for about 45% of the countrys total sugar production, has received significantly less rainfall this year than other producing areas. 4. According to Mysteels survey of 15 sample projects in Indonesia, Indonesias nickel matte production in August 2026 was 28,600 tons, a decrease of 8.62% month-on-month and 2.31% year-on-year; of which 23,300 tons were high-grade nickel matte and 5,300 tons were low-grade nickel matte (excluding those that have already increased in quality). 5. Ukraine stated that it launched overnight attacks on oil processing facilities in Russias Perm region and Tatarstan, resuming attacks after a US special envoy visited Moscow last weekend. Ukrainian President Zelensky stated that long-range forces were used to strike refineries in the Perm region and Tatarstan, but did not provide further details. 6. The Baltic Dry Index (BDI) fell, ending a three-day winning streak, due to weaker freight rates for Capesize and Panamax vessels. The BDI dropped 53 points, or 1.4%, to 3575 points.According to Iranian media Fars News, Iran has warned that ships near Hassab, Oman, face the risk of attack.Turkish President: The bill for Israels wars in the region is not only paid by Iran and the Gulf states, but shared by everyone.

As BoJ Udea Mentions the Appropriateness of Current Monetary Policy, EUR/JPY Exhibits a V-Shaped Movement

Daniel Rogers

Feb 24, 2023 14:30

 EUR:JPY.png

 

When Kazuo Ueda, the nominee for Governor of the Bank of Japan (BoJ), addresses the Japanese parliament, the EUR/JPY currency pair exhibits a V-shaped movement. The commentary of Haruhiko Kuroda's successor as Governor of the Bank of Japan has increased the volatility of the Japanese Yen.

 

As he describes the current monetary policy as appropriate and necessary to sustain 2% inflation, BoJ Ueda's speech appears more diplomatic. Moreover, he stated that rising import prices are the cause of Japan's rising inflation. Domestic demand is still insufficient, but the central bank is attempting to achieve pre-pandemic growth rates. The neighborhood has descended into lunacy as a result of his speech's absence of Yield conversion control (YCC) discussions.

 

Despite current discussions about the expansion of the YCC, the economic outlook for the Japanese Yen is positive, as the Bank of Japan is working to increase labor costs, which will confidently support a revival in overall demand.

 

Nordea economists continue to be optimistic about the Japanese Yen: "We remain fairly sanguine on JPY due to our expectations of a change in Bank of Japan monetary policy later this year." According to a note from Nordea, the time is ripe for a normalization of the Bank of Japan's stimulative monetary policy, "with inflation reaching its highest level in decades and a prognosis for higher wage growth."

 

Despite the easing of inflationary pressures, investors are concerned that the normalization of the Eurozone economy will take a significant amount of time. In order to maintain a ceiling on the price index, the European Central Bank (ECB) is anticipated to continue raising interest rates.


Suggestion