Share: Economists at Commerzbank analyze what is relevant regarding the upcoming Bank of Japan’s (BoJ) meeting next week. The “March vs. April” question is not really important This is another one of those things I can’t understand: the question of whether the BoJ will raise its key interest rate next week or at the next
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Both the USDJPY and the EURJPY are moving higher. The run to the upside in each was started in the Asian session after comments from Japanese finance minister Suzuki and later by BOJs Ueda. Technically, the price of each moved up to a moving average technical target and slowed the assent. The price has been
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Gold prices steadied on Wednesday, after posting its biggest decline in a month in the previous session after a sticky U.S. inflation report boosted bond yields and slightly tempered hopes for a June interest rate cut from the Federal Reserve. FUNDAMENTALS * Spot gold edged 0.1% up to $2,158.26 per ounce, as of 0151 GMT.
Yen weakened broadly in Asian session today, reversing some of its robust since the previous week. This shift in momentum comes amid tempered expectations for an imminent BoJ rate hike at next week’s meeting. Japanese Finance Minister Shunichi Suzuki’s comments that the country is not yet ready to declare victory over deflation, despite positive signs
People shop at the Macy’s store on Herald Square on January 19, 2024 in New York City. Michael M. Santiago | Getty Images News | Getty Images Consumer spending bounced back in February from a January dip, with a little help from leap day. But sales still registered good gains even after correcting for that
The chief executive of Denmark’s Lego on Tuesday reflected on a tough year for the world’s largest toymaker, and outlined the firm’s long-term plans to stay relevant and “cool with kids.” Lego said its 2023 revenue was 2% higher compared to the previous year, growing to 65.9 billion Danish krone (around $9.65 billion). This was in
Share: MicroStrategy stock climbed more than 7% on Tuesday. That performance follows Monday’s 4% gain. CEO Michael Saylor says the firm has acquired another 12,000 BTC. Daily chart shows MSTR has further room to run. MicroStrategy stock (MSTR) gained another 7% on Tuesday, protecting shareholders from a worrying candlestick pattern at the start of the
The broader US stock indices are moving to new session highs with the S&P trading up 1%. The NASDAQ and is up 1.25%. Looking at the hourly chart of the S&P index above, last week the low price based against swing lows from February 27 to February 29 near 5056.92. Also near that level was
Oil prices have rebounded from earlier losses and are trading up $0.54 to $78.46. Crude had traded as low as $77.34 in the aftermath of the CPI report but everything is bid in the past hour. Helping oil along was the latest OPEC report. There was speculation they would dim their view of demand growth
OPEC on Tuesday stuck to its forecast for relatively strong growth in global oil demand in 2024 and 2025, and further raised its economic growth forecast for this year saying there was more room for improvement. The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise by 2.25
Dollar saw only a temporary uplift from stronger-than-expected CPI figures from the US. The greenback reverted to pre-release levels, while stock futures rebounded. Traders appeared to be refraining from taking decisive bets. This reaction suggests that the inflation data, despite being higher than anticipated, may not be sufficiently influential to deter Fed from cutting interest
Fresh chicken breasts are displayed for sale in the meat area of a Sprouts Farmers Market grocery store in Redondo Beach, California on February 23, 2024. Patrick T. Fallon | AFP | Getty Images Inflation rose again in February, keeping the Federal Reserve on course to wait at least until the summer before starting to
The Porsche Mission X on display at the IAA Mobility 2023 show in Munich, Germany. Arjun Kharpal | CNBC Porsche on Tuesday warned that profitability will decline this year as it launches new models amid tough economic conditions, but hiked its dividend on the back of a rise in 2023 operating profit. The German luxury
Share: New Zealand Dollar weakens against the US Dollar following the latest US inflation figures for February. They paint a picture of stubbornly hot inflation, which could make the Fed keep interest rates elevated to cool. The NZD/USD pair is falling back down towards its range lows in the 0.6080s. The New Zealand Dollar trades
US broader US stock indices are starting the week with declines. The Dow 30, however, is eking out a modest again. The small-cap Russell 2000 index is also lower and was the worst performer of the top 4 indices. A snapshot of the closing levels is showing: Dow industrial average up 46.97 points or 0.12%
Later today, Tuesday 12 March 2024, we get the US consumer inflation data. Due at 1230 GMT, which is 0830 US Eastern time (and, don’t forget, the US switched to daylight saving over the weekend so if you are trading the data be aware times may, likely have, changed in your local timezone: *** OK,
Oil prices rose in early Asian trading, but price moves were limited as the market waited for monthly reports from oil agencies. Brent futures for May delivery rose 23 cents to $82.44 a barrel by 0221 GMT. The U.S. crude April contract rose 17 cents to end at $78.10 a barrel. “Crude oil traded in