BoJ Governor Haruhiko Kuroda told the parliament today that recent sharp yen falls are “negative and undesirable” to the economy. The depreciations raise uncertainty over the outlook and make it difficult for companies’ business planning. Read more…
Overview: Higher oil prices and very tight labour markets continue to keep inflation pressures high. There is some relief, though, from lower gas prices and some foodstuff prices. The decline in freight rates has come Read more…
Appetite for risk remained on the back ropes as Asian markets reacted to the hotter-than-expected inflation print from the US on Friday. Asian Indices: Australia’s ASX 200 index fell by -87.7 points (-1.25%) and currently Read more…
Ouch. Released Friday, the US CPI data unexpectedly advanced to 8.6% in May. The data slashed hope that inflation had peaked, and revived the hawkish expectations that the Federal Reserve (Fed) should get more aggressive Read more…
A market perpetually looking for reasons to temper Federal Reserve hiking expectations (so they can buy equities), had those quashed on Friday. US headline inflation accelerated to 8.60% YoY from 8.30% previously, with core inflation Read more…
UK GDP contracted -0.3% mom in April, worse than expectation of 0.2% mom growth. Services fell -0.3% mom. Production fell -0.6% mom. Construction also fell by -0.4% mom. This is the first time that all Read more…
Daily Pivots: (S1) 133.71; (P) 134.09; (R1) 134.82; More… USD/JPY’s rally resumed after brief consolidations and intraday bias is back on the upside. Current up trend should target 61.8% projection of 114.40 to 131.34 from Read more…
Dollar rises broadly as the week starts as risk aversion extended into Asia session. But Yen is not benefiting much this time, as recovery lost momentum. Commodity currencies are also weak together with Euro. Swiss Read more…
Cryptocurrencies were in free fall again on news that Celsius Network, one of the biggest crypto lenders, paused withdrawals, swaps and transfers on its platform. In the background, bitcoin and ethereum were already under pressure Read more…
In the new Consensus Forecasts of NZIER, growth projections for the forecast horizon were revised down while inflation projections were revised up. NZIER noted “increasing headwinds” for the New Zealand economy, including “continued global supply Read more…