Goldman Sachs and Bank of America believe that the direct risk of Japan’s currency intervention is small, saying that even if the yen approaches the closely watched 155 yen to the dollar level, the usual trigger factors “have not yet been reached”. In a report on Monday, Goldman Sachs strategist Karen Reichgott Fishman wrote that […]
Due to the lack of official data, the outlook for the US economy and the Fed’s interest rate path remain unclear, and the US dollar has had its second-best month of the year. The Bloomberg Dollar Spot Index rose for a third consecutive trading day on Friday, posting a 1.7% gain for October. This week, […]
Hedge funds are betting that the yen will fall to a low of 160 yen to the dollar by the end of the year against the US dollar, as the Federal Reserve and the Bank of Japan have changed their interest rate policies. On Thursday, the volume of call options that would profit from a […]
S&P 500 futures rose 0.4%, after the index erased gains earlier as Federal Reserve Chair Powell warned that a December rate cut was not a certainty. Asian stocks rose 0.3%, with the technology sector leading the gains, following better-than-expected earnings from Samsung Electronics and expectations that large US companies will increase their investment in artificial […]
U.S. Treasury Secretary Scott Bessent called on Japan’s new government to give its central bank room to deal with inflation – a stance that contrasts sharply with his domestic advocacy for the Federal Reserve. Bessenet posted on social media on Wednesday: “Whether the government is willing to give the Bank of Japan some policy space […]
This week, Europe will undergo a rigorous economic health check to help gauge the impact of US tariffs on growth and inflation as policymakers meet to set interest rates. The key event is the release of the eurozone’s preliminary third-quarter gross domestic product on Thursday, which will come just a few hours before the European […]
Copper prices rose to a record high as the United States and China are on the verge of reaching a comprehensive deal to ease trade tensions and alleviate a major risk to global economic growth. The global benchmark price on the London Metal Exchange rose by 0.9% to $11,065.50 per ton, just $50 short of […]
As optimism about further appreciation of the renminbi has risen, Chinese banks helped their clients sell off foreign currencies at the fastest pace since 2020 last month. According to official data released on Wednesday evening, in September, lending institutions net sold $51.8 billion of foreign exchange on behalf of their clients, marking the largest monthly […]
Asian stock markets fell and gold prices dropped. They opened at a record high this week but declined due to concerns over corporate earnings and trade tensions. The MSCI Asia ex-Japan equity index hit a record high on Monday along with gold prices, but then fell back by about 0.6%. This reflected the decline in […]
Gold and silver prices continued their sharp decline from record highs, while Asian stocks fell after the Wall Street rally showed signs of fatigue. Gold prices dropped by as much as 2.9% before trimming losses, posting their biggest intraday decline in more than a decade on Tuesday. Silver prices also fell, after dropping 7.1% in […]