How will today’s ECB fare as the How will today’s ECB fare as the US FOMC’s rate hike pause approaches?’s rate hike pause approaches?
As expected by the market, yesterday’s US FOMC announced a 25bp rate hike. However, while it suggested the possibility of keeping rates unchanged (pausing rate hikes) at the next June meeting, it did not explicitly say so. Chairman Powell denied the speculation of an early start to rate cuts that had been spreading in […]
Caution for yen appreciation and dollar depreciation due to FOMC today, shadows in the US labor market, and uncertainty in US regional banks
Today, the results of the US FOMC will finally be announced. In anticipation, the market is showing somewhat uneasy movements. Yesterday’s announced US JOLTS job openings fell below the 10 million mark for two consecutive months, which led to an expansion of dollar-selling reactions along with a decline in US bond yields. Although a 25bp […]
Euro sold off, retreating from highest level since September 2008 against yen = London FX
The euro is being sold off. This is due to the European Central Bank (ECB) revealing that lending standards in its bank lending survey have tightened more than expected, causing expectations for a significant rate hike by the ECB to recede. The euro-yen briefly tested the upside in London early morning, driven by rising yields […]
In the morning of London, there are many May Day holidays, and the US ISM manufacturing index is ahead
On May 1, many markets around the world are closed for May Day, resulting in a quiet morning market in London. However, following the Bank of Japan’s decision last week, the yen has weakened, and there is a possibility that the yen exchange rate may become active again if there is an opportunity. Later today, […]
Bank of Japan announces continuation of easing, pay attention to US PCE deflator after this
At the attention-grabbing decision-making meeting of the Governor of the Bank of Japan Ueda, he announced that the current ultra-loose policy would be maintained. Among them, we have deleted the forward guidance wording on interest rates, deleted the reference to the new corona, and decided to conduct a multilateral review (inspection) of monetary policy management […]
Dollar buying intensifies, US GDP deflator unexpectedly rises
Preliminary figures for the first quarter of the US GDP have been announced. The annual growth rate was +1.1% compared to the previous quarter, slowing down from +2.6% in the previous period, and fell short of market expectations of +1.9%. However, the GDP deflator was +4.0% and the core deflator was +4.9%, unexpectedly rising […]
Today we will focus on the US GDP preliminary figures, how is the growth of core inflation?
This week’s exchange rate is sensitive to risk trends in the stock market and bond yield trends. With important events such as the announcement of the results of the Bank of Japan decision meeting tomorrow and the announcement of monetary policy by the US FOMC and ECB in the second half of next week, it […]
Nervous about risk trends, waiting for the weekend’s rice index before next week’s event
In overseas markets yesterday, movements of risk caution prevailed, and the pressure of a strong dollar and a strong yen spread. However, the dollar/yen exchange rate is at 133-135 yen and the euro/dollar exchange rate is at 1.10. In recent days, risk performance has improved after strong earnings from US tech giants such as Microsoft […]
Continued euro buying, in view of next week’s U.S. and European monetary policy meeting
The euro is buying even more this week. Against the dollar, the pair has reached the psychological level of 1.10. In the last 24 hours, the euro has risen almost across the board against major currencies. Even the Swiss franc, which has been slightly behind, is showing a comparable performance. The trend since the beginning […]
At the beginning of the week, the range from the second half of the previous week will be followed, and there is a lack of clues such as US economic statistics
At the beginning of the week, each major currency has started trading following the range exchange rate from the second half of last week. The dollar/yen pair reacted by selling the yen in response to Bank of Japan Governor Ueda’s comments on the continuation of monetary easing, but the exchange rate stopped at around 134.50. […]