Friday, June 14, 2024

Yen Under Pressure After Hawkish Fed Stance; Traders Await Friday’s BoJ Policy

The Japanese yen experienced a dip against a basket of major currencies in early trading today, as market participants widely expect the Bank of Japan (BoJ) to maintain its current interest rate policy in its upcoming decision on Friday. This downward movement follows a brief rebound on Thursday, which was quickly reversed by a strengthening […]

China Unleashes Funds, But More Firepower Needed to Tame Housing Woes

China last week unveiled a 300 billion yuan ($41 billion) fund to support purchases of unsold housing inventory. While marking a new approach to tackle its three-year property downturn, analysts say the funding is a mere drop in the ocean given the massive oversupply crisis. Estimates peg China’s unsold housing stock, spanning land and completed […]

Global Economy – Consumer Confidence Lags Despite Economic Rebound in Rich Nations

Even as many advanced economies have returned to growth after the pandemic, consumer confidence levels remain subdued and below pre-COVID levels. According to OECD data, consumer morale across wealthier nations in April 2024 was still 1.6% lower than in April 2019. The prolonged hit to household finances from high inflation is a major factor weighing […]

UK Inflation Stubbornly High, Dashing Hopes for Imminent Rate Cut

Britain’s inflation rate unexpectedly remained elevated in April, dashing market expectations that the Bank of England would be ready to cut interest rates as soon as next month. The consumer price index rose 2.3% annually, higher than the 2.1% forecast by the BoE and economists. Of particular concern was services inflation, which the BoE closely […]