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Market news: A U.S. judge extended the deadline to prevent the Trump administration from completely suspending federal funding.On February 26, according to NBC News, the White House said that the large bruise on the back of US President Trumps right hand was caused by shaking hands. The bruise was visible when Trump met with French President Macron at the White House on Monday. White House Press Secretary Levitt said: "President Trump has bruises on his hands because he works and shakes hands all day long." Photos show that Trumps right hand had obvious bruises or redness and swelling on at least two other occasions in August and November last year. The situation was also reported by multiple news media in 2024. In an article published in December 2024, Time magazine quoted Trump as saying: "This is caused by shaking hands with thousands of people."On February 26, a U.S. judge rejected the Associated Presss emergency motion to restore its right to interview the White House press conference on February 24, and said that another hearing would be held on March 20. The White House and the Associated Press subsequently responded to the ruling. In a statement issued on the same day, the White House said, "Asking questions to the President of the United States in the Oval Office and on Air Force One is only a privilege granted to reporters, not a legal right." A spokesperson for the Associated Press responded that the Associated Press will "continue to defend the right of the press and the public to speak freely without government retaliation" and look forward to the next hearing.Tesla (TSLA.O)s losses widened to 10%, hitting a new low since November 8 last year.Politico reporters said the U.S. House of Representatives passed a procedural vote on the U.S. Republican budget plan, preparing for a vote in the evening.

As investors await fresh cues from the US ISM PMI, the USD/JPY pair fails to surpass 131.00

Alina Haynes

Jan 03, 2023 15:26

As the USD/JPY pair strives to surpass the critical level of 131.00 in the early Tokyo session, it is facing increasing resistance. The asset is trading near its 12-day low, therefore investors are likely to maintain a state of apprehension.

 

Due to the market's need for sufficient time to settle after the holiday fervor and long weekend, the risk profile is still uncertain. As the U.S. equity market awaits the International Monetary Fund's economic estimates, S&P500 futures perform modestly (IMF).

 

On a CBS Sunday morning news broadcast, IMF Managing Director Kristalina Georgieva warned, "2023 will be a difficult year for the majority of the global economy, as the three engines of global expansion — the United States, Europe, and China – may all experience declining activity."

 

In the future, the sentiment of the market will be reflected in the trading volume of the US Dollar Index (DXY). The ISM Manufacturing PMI data from the United States will be the most crucial element on the USD Index. Predictions indicate that the US ISM Manufacturing PMI will increase to 49.6 from 49.0 in the most recent report. In addition, investors will monitor the New Orders Index, which provides insight into future demand in the United States. The economic data is projected to increase to 48.1, up from 47.2 in the previous release.

 

A continuation of Tokyo's ultra-lax monetary policy could have an impact on the Japanese Yen. The Bank of Japan (BOJ) has already established inflation targets close to 2% for fiscal years 2023 and 2024, necessitating further increases in pay rates and a steady flow of market liquidity to underpin aggregate demand.

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