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On May 9th, Futures News reported that from a macroeconomic perspective, Trumps primary objectives are to secure low-priced Middle Eastern oil, curb Irans nuclear program, and expand the dollars dominance in oil settlements, rather than perpetuating an energy price crisis. The likelihood of a macroeconomic upside is relatively high, but further analysis is needed. If the escalation of the US-Iran situation leads to a continued surge in oil prices and stagflation, the market will price gold as an inflation hedge and safe haven, thus boosting silver. However, weakness in the industrial sector will drag down silver, limiting its upside potential or causing a pullback. Conversely, if the Middle East situation does not lead to stagflation, and the Federal Reserve begins raising interest rates to mitigate inflation risks, silver will be under pressure. If US-Iran relations ease and the Strait of Hormuz resumes normal navigation, oil prices may fall significantly, and the market may price in a Fed rate cut this year, leading to an upward correction in silver prices. Overall, looking ahead to the second quarter, given the possibility of a breakthrough in the Middle East situation, the logic of a Fed rate hike this year may be disproven. Coupled with the supply and demand situation of regional market differentiation but persistent overall deficits, silver prices are likely to continue their moderate rise.On May 9th, NIO posted on social media to refute rumors that it had been summoned for questioning, stating that they were pure fabrication.On May 9th, JiKrs legal department posted on social media that they have recently noticed a group of social media accounts maliciously spreading information such as "eight new energy vehicle companies were summoned for talks," and using AI software to fabricate false information that JiKr had been "summoned for talks," which has greatly damaged JiKrs brand reputation. JiKr has not received any such "summoning" information. Regarding these malicious attacks and defamation, we have collected and secured evidence and will protect our rights in accordance with the law.May 9th - According to the latest data released by Cui Dongshu, Secretary-General of the China Passenger Car Association, my countrys automobile exports reached 3.28 million units from January to April this year, a year-on-year increase of 52%, setting a new record in recent years. The total export value reached US$56.9 billion, a year-on-year increase of 54%, also a new record in recent years.On May 9th, World Health Organization (WHO) spokesperson Christian Lindmeier stated on May 8th that the WHO had initiated a response to the current Hantavirus outbreak in accordance with the International Health Regulations. In addition to the cruise ship affected by the outbreak, contact tracing is ongoing. Regarding public concern about the transmissibility of the Hantavirus, Lindmeier emphasized that the virus is not highly contagious and does not easily spread from person to person. Many people who have had close contact with infected individuals during this outbreak have tested negative for the virus, which sufficiently demonstrates that the risk of Hantavirus to the general population is very low.

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

Daniel Rogers

Feb 24, 2023 14:30

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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.


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