EUR/USD 1.08405
-0.058%
Gold 2892.34
-0.592%
Oil 65.849
-1.410%
USD/JPY 147.074
-0.592%
GBP/USD 1.28902
-0.263%
GBP/JPY 189.583
-0.854%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Eurogroup President Donohoe: There is clear uncertainty about tariffs, trade and security.Musk: We are attacked every day, but this time a lot of resources are mobilized. It may be a large, organized group, or a country is involved.The Federal Reserve accepted a total of $129.054 billion from 36 counterparties in fixed-rate reverse repurchase operations.According to the BBC: British MP Mike Amesbury has announced his resignation, which will trigger a by-election in a seat in northern England.March 11, according to CNBC, more and more investors on Wall Street are disappointed with Tesla. Before Teslas April delivery report and first-quarter results were released, UBS and Redburn Atlantic reiterated their sell ratings on Tesla due to sluggish Model Y delivery forecasts and a lack of growth catalysts in the near term. UBS lowered Teslas target price by $24 to $225, while Redburn was more pessimistic, with a target price of $160. "We expect sales to stagnate this year without the upcoming new cars," wrote Redburn analyst Adrian Yanoshik. "So far, the sluggish new car registration data may indicate continued demand challenges. At the same time, we expect cash flow to be affected by the new Model Y model that began delivery in March due to increased inventory. The United States may impose tariffs on goods imported from Mexico, increasing the cost burden." Teslas stock price plummeted more than 13% on Monday, and has fallen more than 40% so far this year. If the trend fails to reverse, the stock may fall for the eighth consecutive week after the surge triggered by the US election, the companys longest (weekly) consecutive decline in 15 years.

At the Tokyo open, the USD/JPY bulls pick up speed and aim for 138.00

Alina Haynes

Jul 14, 2022 12:00

截屏2022-07-14 上午9.26.35.png

 

The USD/JPY pair is now trading at 138.00, up 0.44 percent from the day's beginning price of 137.28 and reaching a high of 137.96. The dollar is benefiting from central bank divergence at play.

 

The US dollar hit a 20-year high, according to the DXY index, which compares the dollar to a basket of currencies. After figures on Wednesday showed that US consumer price inflation hit a 40-and-a-half-year high in June, the euro dropped below parity. As gasoline and food costs continued to rise, the Consumer Price Index (CPI) increased to 3% last month, above the 1.1 percent forecast by the experts surveyed by Reuters.

 

However, "several Districts reported growing symptoms of a slowdown in demand, and contacts in five Districts voiced worries about the increased probability of a recession," according to data from the Fed's Beige Book on regional economic conditions. Bostic, the president of the Atlanta Fed, said that "everything is on the table" for the July policy decision, which may indicate a 100bp increase. The rising rate of inflation worries him.

 

Rates on the US bond market fluctuated after inflation data that was greater than expected. The long end increased while the short end decreased. The US 2-10yr curve is currently 22bps inverted, according to analysts at Westpac, "given the expectation of aggressive Fed tightening and the risks to the long-term economic outlook." While yields on 10-year government bonds declined from 2.95 percent to 2.90 percent, rates on 2-year bonds rose from 3.05 percent to 3.21 percent before leveling off at 3.13 percent.

 

Additionally, JPY net short positions increased significantly last week. The hawkish stances of other central banks have prompted speculation that the BoJ may have been obliged to alter its YCC policy as early as last month's meeting, according to Rabobank analysts. The BoJ kept its dovish approach, although there will probably be more talk of a shift in the coming months. This has given the JPY some support, along with inflows into safe havens.


Suggestion