Author: FX
Ryosei Akazawa, Japan’s top tariff negotiator with the U.STrump’s team has been touting progress towards a deal with Japan and market participants have been watching closely for the contours, as it will offer a framework for others. But Japanese economic revitalization minister Ryosei Akazawa left the US on Friday without a deal and that a deal would take some time.”We’re not going to make a quick deal,” Akazawa said. “It’s difficult to say how long it will take to bridge the gap (between the two sides).”The Japanese press reported today that one of the offers was to drop domestic auto…
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The Good Friday holiday ensured it would be a quieter day than most this year but it wasn’t exactly quiet in the FX market. There were some decent moves on the day on Friday and the general theme remained USD selling.The brunt of it came via USD/CHF, which dropped another 35 pips. The pair is in the middle of the weekly range after hitting a 10-year low last Friday. It’s consolidating just off those lows and the lack of a bounce isn’t exactly inspiring.There are some hopes for progress in some US trade negotiations over the long weekend so keep…
Markets swung hard last week as traders reacted to fresh trade tension, central bank moves, and mixed data surprises. Source link
San Francisco Fed President Mary Daly made a rare Good Friday appearance for a moderated discussion on the economy and monetary policy outlook. She emphasized patience:On the economy:There is a little bit of pulling forward on spending, but not as much as you might thinkUS economy remains “in a good place” with “good momentum” despite some sectors like transport showing slowdownConsumer and business spending remains resilient despite sentiment concernsLabor market cooling gradually without major disruptionOn inflation:Restrictive policy continues putting “downward pressure on inflation”Sees “very, very gradual process on inflation” requiring continued restrictive stanceInflation risks have “increased” and needs vigilant monitoringCommitted…
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