The weakening yen is unpopular in Japan and pressure is mounting on politicians for action but there are no easy answers. I spoke with BNNBloomberg about the issues: 1) Rate differentials are the driver. You can buy a 10-year Japanese government bond and get 0.9% per year or buy a US 10 and get 4.7%.
Spot gold closed with a gain of 0.27% at $2338 Friday. However, the metal posted its first weekly decline in six on inflation concerns as the US inflation data remained elevated. The metal fell 2.20% on the weekly closing basis. The ten-year US yields at 4.67% were around 1% lower Friday; however, yields were up
Mexican Peso strengthens against US Dollar, buoyed by positive market mood, mixed economic reports. US inflation remains hot as core PCE Price Index increases above March expectations. Mexico shows a deficit, yet Unemployment Rate drops, presenting mixed economic scenario. The Mexican Peso counterattacks registered solid gains versus the US Dollar on Friday as economic data
Alphabet on Thursday delivered a knockout first-quarter report, with sales, operating margin and profits all topping Wall Street expectations. The search giant also reloaded its stock buyback program and initiated a quarterly dividend for the first time in its history. Total revenue in the three months ended March 31 rose 15.4% year over year to
The NZDUSD this week moved higher on Thursday and moved up to test the 50% midpoint of the April trading range at 0.59668, before backing off on the stronger US GDP and price data. The price retraced the entire move to the downside with momentum in the Asian session today. That follow-through upside move took
The JPY pairs all rose sharply (JPY lower) as JPY selling continued after the BOJ rate decision. The comments from BOJ Ueda did not strike any fear in traders hearts, after saying that the JPYs fall could lead to higher inflation, but expressed no concerns about its fall. After, an initial dip soon after the
Copper and aluminium, the most used industrial metals, have gained substantially in the past few weeks. The rally was associated with supply uncertainties and a notable increase in global demand. The Western ban on Russian metals, hopes of US rate cuts, and diversification of holdings of central banks also uplifted the sentiments. Copper futures are
Last week’s market activity was shaped by several significant themes. Firstly, the Japanese Yen’s rapid decline caught market participants off guard. The sell-off was exacerbated by what many considered tepid verbal interventions from Japanese officials. Current momentum suggests that the Yen’s free fall is far from over. The key is whether Japan will step up
Alphabet reported Q1 earnings late Thursday that beat Wall Street estimates. YouTube advertising and the Cloud segment continue growing strong. Alphabet CEO Sundar Pichai introduces $0.20 cash dividend. GOOGL stock is trading between $169.31 and $174.68, Fibo levels. Alphabet (GOOGL), the parent of Google and YouTube, is clinging to a 10% gain midway through Friday after posting
Inflation showed few signs of letting up in March, with a key barometer the Federal Reserve watches closely showing that price pressures remain elevated. The personal consumption expenditures price index excluding food and energy increased 2.8% from a year ago in March, the same as in February, the Commerce Department reported Friday. That was above
In this article CVX Follow your favorite stocksCREATE FREE ACCOUNT Gas pumps are seen at a Chevron gas station in Orlando. Paul Hennessy | SOPA Images | Lightrocket | Getty Images Chevron beat earnings expectations Friday, but its profit fell from the year-ago period as its refineries and international gas business faced headwinds. The oil
The EURJPY has reached a high of 168.8942. That is down the price within the 100 pips of the high price going back to July 2008 at 168.941. Trading above that level would take the pair to the highest level since September 1992. Traders may look to lean against the high ceiling area from 2008
At ForexLive, we work in the news business and I make it our mission to deliver news and analysis that can help people make money in financial markets, or at least understand what’s going on. I’ve always gravitated towards financial news because it’s the one industry where there’s a scorecard. You can still get away
Gold prices edged lower on Friday and were set for a weekly decline as investor attention turned to key U.S. inflation data for cues on the Federal Reserve‘s interest rate trajectory. FUNDAMENTALS * Spot gold dipped 0.1% to $2,331.15 per ounce as of 0136 GMT. Prices are down nearly $100 from the all-time high of
Japanese Yen resumes its free fall today, after a brief pause, and reaches new 34-year low against Dollar. Yen’s weakness is also broad-based and evident against other major currencies, with EUR/JPY marching towards its 2008 high and GBP/JPY heading to its 2015 peak. It’s clear that the absence of strong verbal interventions from Japanese officials
Gold price faces selling pressure near $2,350 as US Dollar rebounds. Higher US core PCE inflation data has prompted the US Dollar’s recovery. Market expectations for the Fed delaying rate cuts remain firm. Gold price (XAU/USD) falls from $2,350 in Friday’s early New York session as the United States annual core Personal Consumption Expenditure Price Index (PCE) data for
A customer shops for food at a grocery store on March 12, 2024 in San Rafael, California. Justin Sullivan | Getty Images News | Getty Images The last batch of inflation news that Federal Reserve officials will see before their policy meeting next week is in, and none of it is very good. In the
In this article AIR-FR Follow your favorite stocksCREATE FREE ACCOUNT An Airbus employee works on an aircraft part of the Airbus A350 at the Airbus Atlantic plant in Bouguenais, near Nantes, western France, on Feb. 29, 2024. Sebastien Salom-gomis | Afp | Getty Images Airbus is ramping up production of its A350 aircraft because of