Moody’s credit-rating firm has noted that Japan’s ability to meet its primary budget-balancing target next fiscal year is not a make-or-break situation in terms of their credit rating. Christian de Guzman, the Japan sovereign analyst at Moody’s, emphasized that the target should be seen as a commitment to fiscal reform rather than an absolute benchmark
The market saw a mixed reaction in stock futures as June came to a close, with the first half of 2024 ending at near record highs. The S&P 500 hit an intraday record last Thursday, continuing its bullish trend with an 0.6% gain for the eighth positive week in nine. Nvidia, a key player in
The yen has reached a level of weakness against the US dollar that has not been seen since late April. This has prompted the Bank of Japan to intervene in the currency market, deeming a rate above 160 yen per USD as unacceptable. Japanese officials have issued warnings against “excessive” volatility, hinting at the possibility
The EUR/USD pair failed to surpass the 1.0765 resistance level and subsequently declined once again. The 4-hour chart reveals the formation of a major bearish trend line with resistance at 1.0710. Currently, the pair is consolidating near the 1.0670 support zone. Despite facing resistance at 1.0710, a clear move above the 1.0720 resistance level could
The Indian Rupee started off the new week on a positive note, showing strength despite the stronger US Dollar. This resilience can be attributed to various factors such as the positive economic growth outlook in India, significant foreign inflows into Indian markets, and expectations of continued policy reforms following the general election results. One of
The recent violent reaction of bond vigilantes to the spendthrift policies of French politicians serves as a stark reminder for the United States. It underscores the fact that the market will likely determine the tipping point for debt sustainability, and forecasting it accurately will be a tough task. While there has been growing concern among
The current market speculation surrounding the Bank of England (BoE) lowering interest rates in August has put pressure on the Pound Sterling against the US Dollar. The uncertainty in the UK’s economic outlook, especially in the lead-up to the UK elections, has contributed to this downward trend. The BoE’s decision to keep interest rates at
In a recent statement, Masato Kanda, Japan’s top currency diplomat, emphasized the role of the Bank of Japan (BoJ) in intervening in foreign exchange markets when deemed necessary. Kanda highlighted the need for appropriate measures to address excessive forex movements, signaling that Japan is closely monitoring exchange rate fluctuations. Following Kanda’s remarks, the Japanese Yen
As we head into the final trading week of the first half of the year, Asian markets are experiencing a mixed bag of performance across equities, currencies, and bonds. While Asian stocks are generally in decent shape, Chinese markets are struggling to keep up with their regional and global peers. Chinese stocks have been underperforming
In a recent television interview, Chancellor Olaf Scholz reiterated Germany’s coalition government’s commitment to its social agenda despite economic challenges. He emphasized the importance of defending and further developing the welfare state while addressing other pressing issues, such as military aid to Ukraine. The three-way coalition in Germany, comprising the Social Democrats (SPD), pro-business liberals
The financial landscape is constantly evolving, marked by intricate economic indicators, monetary policy decisions, and investor sentiment. In this article, we delve into the recent developments in consumer inflation expectations, private sector credit numbers, US economic data, CB Consumer Confidence Index, US Personal Income and Outlays Report, and their implications on monetary policy decisions. The
Germany’s Economy Minister Robert Habeck visited China and emphasized that the European Union is willing to engage in discussions regarding EU tariffs on Chinese exports. He conveyed that the message of open dialogue was well received by his Chinese counterparts, highlighting the importance of maintaining open markets while ensuring a level playing field for all
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