EUR/USD 1.13942
0.073%
Gold 4037.03
0.211%
Oil 80.874
3.248%
USD/JPY 163.531
-0.201%
GBP/USD 1.33030
0.113%
GBP/JPY 217.550
-0.074%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
ECB Governing Council member Patsalides: On the issue of inflation, the passage of time is undoubtedly at our disadvantage.On July 29th, the "Implementation Plan for Artificial Intelligence Empowering the Digital Transformation of Manufacturing in Zhejiang Province (2026-2030)" was issued, proposing to promote data governance and the construction of high-quality datasets. It supports enterprises in registering industrial data assets and industrial data intellectual property rights. It encourages enterprises with a digital transformation level of 2.0 or higher to build unified data management platforms and promote multi-source heterogeneous data modeling, analysis, classification, and hierarchical management. Focusing on key industry scenarios such as integrated circuits, apparel and textiles, consumer electronics, and modern home furnishings, it promotes collaborative data collection, processing, labeling, testing, and application across the industrial chain to build high-quality, reusable industry datasets. It also advances the pilot construction of product master data standards and high-quality industry datasets to accelerate the creation of a trusted industrial data space.On July 29, Zhao Leji, Chairman of the Standing Committee of the National Peoples Congress (NPC), met with Slovak President Pellegrini in Beijing. Zhao stated that China is willing to work with Slovakia, guided by the important consensus reached by the two heads of state, to continuously enhance strategic mutual trust, deepen mutually beneficial cooperation in areas such as high-quality Belt and Road Initiative cooperation, trade and economic cooperation, artificial intelligence, and new energy, promote people-to-people exchanges, and jointly advance the high-level development of China-Slovakia relations. The NPC is willing to maintain close and friendly exchanges with the Slovak National Assembly, conduct exchanges of experience in legislation and oversight, and provide legal guarantees for pragmatic cooperation between the two countries.July 29th - The Bank of England is expected to assess its quantitative easing (QT) program at its policy meeting on Thursday. Quantitative easing refers to the process by which the central bank reduces its bond holdings purchased during the quantitative easing period. Ebury analyst Matthew Ryan noted in a report that the Bank of Englands assessment of QT is unlikely to have a significant impact on UK assets, as investors are likely to focus on inflation guidance and the voting outcome of the interest rate decision. Ryan stated that if the vote remains unchanged at 7-2 and subsequent guidance downplays inflation risks, the market may lower its expectations for a Bank of England rate hike.July 29 (Kyodo News) – The Japanese government announced on Wednesday that Japans national population fell below 120 million for the first time in 42 years, dropping to 119,736,483 at the beginning of this year, highlighting the serious challenges the country faces in addressing its declining birth rate. According to data from the Ministry of Internal Affairs and Communications, as of January 1, the number of Japanese citizens decreased by 917,000 from the previous year, the largest drop since comparable data became available in 1968. At the same time, the number of foreign residents increased by 354,000, reaching a record 4,031,159. The Ministry of Internal Affairs and Communications has been compiling these data since 2013. Faced with a labor shortage, Japan is gradually easing restrictions on the introduction of foreign workers. With more and more people coming to Japan in search of employment opportunities, the number of foreign residents has increased for the fourth consecutive year.

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