Fabio Panetta, a member of the Governing Council of the European Central Bank, said that the international monetary system might shift from a dollar-dominated one to a system featuring several coexisting global currencies. Panetta said in Dublin on Tuesday that although the dollar will remain a key currency, the world “may gradually move towards a […]
Gold prices have stabilized as traders shift their focus from the almost certain US interest rate cut this week to the monetary policy guidance for next year. Gold prices were around $4,193 per ounce, having edged down slightly from the previous trading day. On Monday, U.S. Treasury yields rose as investors braced for a series […]
The market widely speculates that the Bank of Japan will raise interest rates this month, but market participants still bet that the yen will weaken against the US dollar. Traders at Bank of America, Nomura Holdings and RBC Capital Markets said that investors’ positions reflect this bet. Citigroup’s yen pain index, which measures overall trader […]
According to Bloomberg’s analysis of earnings reports, in the first half of the fiscal year ending in September, Nippon Life Insurance did not hedge against the risk of a stronger yen, when the currency was approaching its lowest level in 13 years. The overseas investment portfolio holdings of the nine major insurance companies stood at […]
Bets on rising consumer prices in Japan have depressed inflation-adjusted bond yields, thereby weakening the bond’s support for the yen. An important indicator for gauging the market’s expectations of future price increases – the 10-year breakeven inflation rate – soared this week to its highest level since records began in 2004. Inflation rate rose to […]
Forecasters have warned that the US dollar could face a “triple whammy” in the coming weeks, which could exacerbate its already weak seasonal performance. According to Standard Bank, the US dollar could be hit if the Supreme Court rules that tariffs are illegal and if Kevin Hassett, director of the White House National Economic Council, […]
On Monday, cryptocurrency prices plunged again, leading to the liquidation of nearly $1 billion in leveraged cryptocurrency positions, which gave new impetus to the large-scale sell-off. Bitcoin once dropped 8% in New York to $83,824, with a cumulative decline of nearly 30% since early October. Ethereum also once fell 10% to $2,719, having dropped 36% […]
Bank of Japan Governor Kikuo Iwata has given the clearest indication so far that the central bank’s policy board may raise interest rates soon, and stressed the possibility of the BOJ taking action at its December meeting. Bank of Japan Governor Masaaki Shirakawa said in a speech to local business leaders in Nagoya on Monday […]
Morgan Stanley has downgraded its bullish rating on the pound and pointed out that there may be no positive factors for the pound in the near future. Although the pound might rebound briefly against the dollar after the UK budget on Wednesday, several strategists, including David Adams, said in a note on Thursday that the […]
Australia’s core inflation rate in October was stronger than expected, suggesting that the Reserve Bank of Australia will remain on hold to assess whether the economy is overheating. The closely watched trimmed mean consumer price index, which strips out volatile items, rose 3.3% year-on-year, official data showed on Wednesday. The increase, which was above the […]