Macro update Yen hovers near a 40-year low as intervention risks mount: The Japanese currency weakened to 161.81 per dollar overnight, its lowest level since July 2024 and close to the 1986 trough, with finance officials reiterating their willingness to counter speculative moves as thin market liquidity raises the possibility of intervention similar to the […]
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Prior -1.3% (revised to -1.0%) Retail sales +3.2% vs +1.9% y/y expected Prior +0.0% (revised to +0.1%) Retail sales ex autos, fuel 1.2% vs +0.4% m/m expected Prior -0.4% (revised to -0.1%) Retail sales ex autos, fuel +4.6% vs +3.3% y/y expected Prior +1.1% Full report here This is a good report but won’t change
Equities: The Nasdaq 100 rallied 2.5% to lead the session, driven by outperformance among mega-cap tech stocks. The S&P 500 gained 1.1% to close out the pre-holiday week on a positive note. Small caps followed the risk-on move, with the Russell 2000 closing up 2.1%, reversing a multi-session downward trend. However, in today’s Asia opening
Indonesia’s IDX Composite rose 12 points, or 0.2%, to 6,185 in early Friday trading, snapping a two-session losing streak. The rebound followed a positive lead from Wall Street, where optimism over a potential US–Iran agreement helped offset worries about a more hawkish Federal Reserve. On the monetary policy front, Bank Indonesia raised its benchmark rate
Japan inflation remained unchanged in May as government measures helped to bring down energy prices, data from the Ministry of Internal Affairs and Communications showed Friday. Core consumer prices, excluding fresh food, registered a steady growth of 1.4 percent in May. The rate also matched expectations. Meanwhile, headline inflation rose to 1.5 percent from 1.4
EUR/GBP’s advance this week is telling a bigger story than simple Euro strength. What markets are really pricing is a fading belief that the Bank of England will need to deliver significantly more tightening than the European Central Bank. For months, Sterling benefited from the assumption that sticky UK inflation would eventually force policymakers into
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The data is dovish on the surface but the BoJ is unlikely to read it that way given the context. Subsidies are doing the work of keeping core below 2%, not underlying disinflation, and the PPI acceleration since March is the more forward-looking signal for where consumer prices are heading once government support tapers. For
US Vice President JD Vance has canceled his planned trip to Switzerland for talks with Iran, according to CNN. “Logisitics”. Yeah, right. Not a positive sign. Oil is up a touch on this, not surprisingly. This article was written by Eamonn Sheridan at investinglive.com. Source link
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New Zealand posted a seasonally adjusted merchandise trade surplus of NZ$800 Million in May, Statistics New Zealand revealed on Friday. That missed forecasts for a surplus of NZ$875 million and was down from the downwardly revised NZ$1.598 billion surplus in April (originally NZ$1.920 billion). Exports were worth NZ$8.88 billion, up from the downwardly revised NZ$8.27
Oil’s price retreat reflects the market’s initial relief at Hormuz reopening, but the path back to normal export volumes is likely to be slower than spot prices imply. Iraq’s explicit caveat that crude export recovery depends on smooth transit conditions is a material qualifier: any friction at the strait during the 60-day negotiating window would
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The EURUSD has pushed to a new session low and, in the process, moved back into a key swing area between 1.14419 and 1.14587. The pair recently traded down to 1.1452, placing the price squarely within that support zone. If sellers can force a break below the swing area, the next target comes in at
Norway’s central bank left its key interest rate unchanged on Thursday but hinted at a rate hike in one of the future sessions to bring the high inflation back to target. The Monetary Policy and Financial Stability Committee decided to keep the policy rate unchanged at 4.25 percent at its meeting on June 17, the
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