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Market News โ€“ Yen plummets, EU stocks mostly down

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Economic Indicators and Central Banks:

  • Government bond yields fall Traders had anticipated a Fed rate cut following weaker-than-expected inflation data, and a strong 30-year note auction added to bullish sentiment for Treasuries, sending yields edging toward session lows.
  • The Bank of Japan will gradually reduce its bond purchases. The Bank of Japan left its target range for overnight interest rates unchanged. 0-0.1%. At the same time, the Bank of Japan announced that it would reduce its bond purchases over the next one to two years, despite the opposition of one of its board members, though no details were given about the timeline for reducing bond purchases.
  • Asian Stocks Asian stocks were mixed as the Bank of Japan’s policy decision and Wall Street’s AI frenzy drove stock indexes to record highs. Chinese shares offset gains in Japan’s benchmark index. Asian stocks are broadly on pace to lose for the third of four weeks. A stalling gain in Chinese stocks and expectations that the Fed will keep interest rates high for an extended period of time are weighing on demand for assets in the region.
  • The U.S. producer price index unexpectedly fell by its largest amount in seven months, providing evidence that inflationary pressures are easing.

Asian & European Open:

  • Wall Street is mostly up. of Nasdaq Increased by 0.2% Tesla, Nvidia, and Broadcom.
  • Broadcom Rapid increase 12.3% Following the report of better-than-expected quarterly profits, High demand for AI technologyThe company also raised its revenue forecast for the current fiscal year.
  • Tesla Earned 2.9% This comes after CEO Elon Musk announced that shareholders are likely to approve his compensation package following early voting. mask Without approval, he Transfer of AI research I moved to one of his other companies.
  • Nikkei Increased by 0.4% 38,868.94 The Bank of Japan maintained its monetary policy but planned to reduce its purchases of government bonds.
  • The ASX 200 fell 0.3 per cent to 7,724.80, Hong Kong’s Hang Seng Index fell 0.6 per cent to 18,004.71 and the Shanghai Composite Index fell 0.1 per cent to 3,025.39.

Financial Market Performance:

  • of USD Index The US Dollar rebounded again, rising to 105.209 from an intraday low of 104.642 following the Producer Price Index (PPI) and Jobless Claims reports, and remains firm against major G10 currencies.
  • USD/JPY It rose sharply 158.24 Investors Bank of Japan Show more emergency, And this announcement Delay in policy normalization. that Putting pressure on the yen It was completely sold out.
  • EUR Hold this week’s losses, 1.0715 Against USD.
  • USOIL The rally was paused as risk aversion spread across financial markets and signs of stronger global supply strengthened.

click here Access the economic calendar

Andrea Piccidi

Market Analyst

Disclaimer: This material is provided as general marketing information for informational purposes only and does not constitute independent investment research. This information does not contain, and should not be considered to contain, investment advice, investment recommendations, or a solicitation to buy or sell any financial instruments. All information provided has been collected from reliable sources and information showing past performance is not a guarantee or reliable indicator of future performance. The user acknowledges that investments in leveraged products involve a certain degree of uncertainty and that this type of investment involves a high degree of risk, the responsibility of which is borne solely by the user. The Company shall not be liable for any losses arising from investments made based on this information. This information may not be reproduced or redistributed without the prior written permission of the Company.

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