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The May inflation data from Japan is here:It shows the core-core rate inflation, which removes both fresh food and fuel and is closely watched by the BOJ as a key barometer of underlying domestic demand-driven price trends, hit a 42-year high at 4.3%.The core reading,...
The rapid slump in the yen on Thursday should bring along verbal intervention from Japanese authorities today. I'm only expecting verbal intervention, not actual yen buying, but this can be enough to scare yen shorts into covering (i.e. buying back some their yen...
The excluding food and energy is holding above 4%. This is the closest to US 'core' inflation . At 4.3% its another 40+ year high. Underlying price pressures in Japan remain above the headline rate. As I posted earlier the Bank of Japan are insisting that the CPI will...
UK Consumer sentiment hit its highest level since January 2022headline confidence index rose for the fifth month in a row to -24 in June from -27 in MayGfK's said consumers were showing "remarkable resilience" in the face of price rises that have proven more enduring...
Jundo Bank / S&P Global flash PMIs from Australia for June 2023Manufacturing 48.6prior 48.4Services 50.7prior 52.1Composite 50.5prior 51.6From the report, in brief:Most of the activity indicators in the survey are softer in June although the key new business and...
US Treasury Secretary Yellen says the risks of a recession remain as the Federal Reserve tightens monetary policySays that a debate over the 2% inflation target is not appropriate now May need to see consumer spending slow down in order to ease the CPIAI...
Earlier this week we had the minutes of the Bank of Japan April meeting:There was nothing in the minutes to suggest an imminent reduction in easy policy and indeed last Friday's June meeting showed the same:Comments from BOJ officials and Governor Ueda are along the...
Goldman Sachs on the Bank of Japan and JPY.- Key Takeaways: 1. Expectation of an Adjustment to YCC: Goldman Sachs economists expect an adjustment to the Yield Curve Control (YCC) in July. This could appease any concerns in the Japanese administration. 2. Potential...
More remarks from Federal Reserve Bank of Richmond President Thomas Barkin. He is speaking (and taking questions) on the economy before the Risk Management Association.Federal Reserve is still a "good way away" from its 2% inflation targetWill not prejudge the July...
Deutsche Bank's forecast for the Bank of England peak rate is now at 5.75%:projecting three quarter point hikes in August, September, and November as likelyDB are not looking for another +50 as they expect downside risks to services inflation in the next data pointDB...
The USD moved higher on Thursday, bolstered by an uptick in yields of U.S. Treasury securities. This came despite the current account deficit for Q1 coming in wider than forecasted, and jobless claims topping 260k for the third consecutive week (weaker employment)....
Earlier on revisions to BoE rate hike forecasts:JP Morgan have a variation on this forecast:raised their terminal rate forecast for the Bank of England to 5.75%forecasting a +25bp hike in August with another two to follow"This new policy rate level in our forecast...
Federal Reserve Bank of Richmond President Thomas BarkinDespite falling from its peak inflation is still too highdemand is still elevated compared with its pre-pandemic trendelevated demand is boosting inflation highersays he'd be content with more hikes if inflation...
The inflation data for the Tokto area was published around 4 weeks ago, showing still surging prices:Today we'll get the national level data for that month. The Bank of Japan have been repeating, over and over, that they expect inflation to fall from around...
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
The S&P and NASDAQ indices are closing near the highs for the day and snapped 3-day losing streaks. The Dow Industrial Average is closing near unchanged/marginally lower.The final numbers are showing:Dow industrial average -4.75 points or -0.01% at 33946.76S&P...
The story of the stock market this year is now being called 'the magnificent 7' for the seven mega-cap tech stocks that are up massively since November and carrying the market this year. Here's how they're doing today:Amazon +3.8%Alphabet +1.7%Tesla +1.6% (after...
The NZDUSD has seen a number of ups and down in recent trading. That pattern continued in trading today with up-and-down price volatility. The most recent "run" has been to the downside (see hourly chart below), and that move has taken the price back below the 100/200...
Caring for the planet is good, but we all seem to be taken for fools. They took away plastic drinking straws, gave us paper bags that tear under the weight of food, and forced us to switch to electric cars, but there is no less hazardous waste.Now, the idea of killing...
WTI crude oil fell $3.02 to settle at $69.51 as the oil market priced in a recession once again. This time it was more central bank hiking weighing, along with mixed US inventory reports.The selling in oil started shortly after the oil future open for the day as API...