EUR/USD 1.15165
-0.111%
Gold 4514.26
3.079%
Oil 97.553
5.279%
USD/JPY 160.141
0.248%
GBP/USD 1.32713
-0.430%
GBP/JPY 212.533
-0.180%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
March 29th - U.S. employment is likely to rebound in March after one of the largest job losses since the pandemic began. Economists estimate that 60,000 jobs were added this month after a loss of 92,000. The unemployment rate is expected to remain at 4.4%. Employment has not increased for several months since May of last year, indicating a lack of significant hiring momentum in the labor market, but without any worrying signs of deterioration. Against this backdrop of limited job opportunities, renewed concerns about inflation due to the war in the Middle East, fueled by soaring gasoline prices, have fueled fears among Americans. Economists point out that Marchs job growth is expected to rebound after disappointing February employment data—in which construction and leisure and hospitality jobs may have declined due to weather conditions. Employment in the healthcare sector may also increase as more than 30,000 Kaiser Permanente employees ended their strike.March 29th - According to Nikkei, U.S. electric vehicle manufacturer Tesla (TSLA.O) plans to double the number of its directly operated service outlets in Japan this year, reaching over 30, in an effort to improve after-sales service and expand market share. Tesla currently operates 14 service centers across the country, primarily located in major cities. These centers are equipped with facilities for vehicle inspection, maintenance, and repair, including bodywork. Many new service centers will be located near Tesla dealerships. The company will utilize existing spaces previously used as repair shops to rapidly expand its service network at a lower cost. In areas without directly operated service centers, Tesla partners with local auto repair shops to provide customers with over 50 vehicle maintenance service points.March 29th - According to the Wall Street Journal, hundreds of thousands of protesters may take to the streets on Saturday for nationwide "No Kings" rallies to protest President Trump. Organizers say Trump governs the country more like a king than a president. This Saturdays protest is the third "No Kings" rally in less than a year, amid controversy surrounding the actions of U.S. Immigration and Customs Enforcement (ICE) and debate over the deployment of federal troops to cities across the country. Organizers said this week that the U.S. involvement in the Iran war is another factor driving the protesters to the streets. Videos circulating on social media show protesters gathering on a beach in San Francisco, California, forming signs that read "Trump must step down immediately!"The UAE Ministry of Defense announced that it has activated its air defense system in response to missile and drone attacks from Iran.On March 29, the German Federal Government approved the "2026 Climate Protection Plan," allocating an additional €8 billion over the next four years to promote the achievement of 2030 emissions reduction targets through measures such as expanding wind power capacity and increasing subsidies for new energy vehicles. The German Ministry of the Environment stated that these measures could reduce carbon dioxide emissions by over 25 million tons by 2030, and reduce natural gas consumption by nearly 7 billion cubic meters and gasoline consumption by approximately 4 billion liters. German Environment Minister Carsten Schneider stated that this climate protection plan will inject "new momentum" into climate action and help reduce Germanys dependence on high-cost, unreliable oil and gas imports.

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