The Japanese Yen gains ground as traders expect the BoJ to deliver an interest rate hike in January. Japan’s Jibun Bank Manufacturing PMI reached 49.6 in December, exceeding the expected 49.5 and prior 49.0 readings. The US Dollar remains subdued as US Treasury yields decline, with the 2- and 10-year at 4.32% and 4.62%, respectively….
Euro is having a modest rebound as markets enter the final US session of the holiday week, supported by a notable rise in Germany’s 10-year benchmark yield. Investors dumped German bonds after President Frank-Walter Steinmeier dissolved the lower house of parliament, paving the way for snap elections on February 23. The move follows the collapse…
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The Bank of Japan (BoJ) board members shared their views on the monetary policy outlook on Tuesday, per the BoJ Minutes of the October meeting. Key quotes The policy interest rate remained at 0.25%. The board member emphasized a cautious approach to monetary policy amid domestic and global uncertainties. If inflation trends align with expectations, gradual rate hikes…
The Federal Reserve’s policy change and economic projections have significantly impacted markets, leading to a rise in US yields. The US PCE data released on Friday rose less than expected, alleviating some selling pressure on US equities. The Bank of Japan held rates steady, defying expectations of a rate cut, while the risk of a…
US Jobs report all but confirms a December rate cut, with markets pricing in an 80% probability. Nasdaq nears 22,000 as US equities continue their strong performance, with the S&P 500 also hitting record highs. Global markets await US CPI and ECB decisions, with expectations of a 25 bps rate cut from the ECB. Focus…
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Japanese cryptocurrency exchange DMM Bitcoin will cease operations by March 2025 following a hack that resulted in losses exceeding $300 million. This decision follows months of recovery efforts that ultimately failed to restore the platform’s viability. DMM Bitcoin to Transfer All Assets to SBI VC Trade According to a report from Nikkei Asia, the exchange…
US equities finished strong, driven by tech and retail stocks, with the S&P 500 reaching record highs. The US dollar weakened due to increased expectations of a December rate cut by the Federal Reserve. The upcoming week’s focus is on US jobs data, which could impact the Fed’s decision and the US dollar’s performance. Week…
Yen strength continued to persist reinforced by an uptick seen in the leading Tokyo’s core-core inflation rate as it rose to 1.9% y/y in November. Japan’s overnight swap rates have indicated an increase in odds that BoJ may hike its short-term policy interest rate again in the upcoming 18-19 December meeting. Watch the 149.30 intermediate…