EUR/USD
1.17155
-0.039%
Gold
4667.92
-0.295%
Oil
95.387
0.491%
USD/JPY
159.006
-0.257%
GBP/USD
1.35328
-0.002%
GBP/JPY
215.184
-0.257%
Real-time News
On April 28, according to the China Earthquake Networks Center, a 4.6-magnitude earthquake struck Kuqa City, Aksu Prefecture, Xinjiang, at 7:05 a.m., with a focal depth of 23 kilometers. The epicenter was located at 41.29 degrees north latitude and 83.92 degrees east longitude. At 10:43 a.m. on the same day, a second earthquake of magnitude 3.2 occurred in the same area, with a focal depth of 15 kilometers and an epicenter located at 41.32 degrees north latitude and 83.93 degrees east longitude. Currently, no reports of building damage or casualties have been received from either earthquake. Local social order is stable, and peoples lives are normal.On April 28th, Marcel Thieliant, Head of Asia Economics at Capital Economics, stated that although the Bank of Japan kept interest rates unchanged, its outlook report leaned hawkish. Thieliant maintained his forecast that the Bank of Japan would raise interest rates in June. He added that three committee members voted in favor of the rate hike, marking the largest dissent since the implementation of negative interest rate policies in 2016. While the votes of traditionally hawkish Hajime Takada and Naoki Tamura were not surprising, this was the first time Junko Nakagawa had joined the dissent.Australian Foreign Minister Penny Wong: I met with Japanese Minister of Economic Revitalization Ryoma Akazawa in Tokyo today to discuss joint approaches to energy and fuels. Australia and Japan are committed to maintaining open trade flows between the two countries to support shared energy security.On April 28th, BNP Paribas analysts stated in a research report that regardless of how the situation develops in the coming days or weeks, the Middle East conflict will have a lasting impact on the global economy. The bank currently expects lower global GDP growth, higher inflation, and a more hawkish stance from central banks compared to their initial forecasts. However, they noted that stronger growth momentum prior to the conflict, as well as structural factors such as artificial intelligence and defense spending, may provide support. BNP Paribas projects US GDP growth of 2.4% in 2026, while the Eurozones economic growth is likely to be 1%.On April 28th, the yen strengthened after the Bank of Japan raised its inflation forecast and three committee members supported a rate hike, appreciating as much as 0.3% to 158.97 against the dollar. The number of committee members supporting a rate hike rose to three, up from one at the March meeting, indicating a strengthening hawkish stance within the committee. Uncertainty surrounding the war with Iran and the resulting surge in energy prices are casting a shadow over the economic outlook and becoming a greater concern as the Bank of Japan weighs inflation risks against growth. Masahiko Loo, senior fixed income strategist at State Street Global Advisors, said, "The Bank of Japans hawkish stance should be seen as a signal of both currency defense and inflation control, indicating that the authorities tolerance for further yen weakness is decreasing given the resilience of domestic inflation and growth." The Bank of Japan also raised its core inflation forecast for the current fiscal year to 2.8% and lowered its economic growth forecast to 0.5%. Market focus will shift to Governor Kazuo Uedas press conference for clues on when policymakers might further tighten policy. A hawkish signal from Ueda could push the yen further away from the 160 level. Overnight index swaps indicate that the market expects a 61% probability of a rate hike in June and has fully priced in the expectation of a 25 basis point rate hike in September.
