Japanese government officials are seeking out ways to surpass restrictions on releasing national reserves of crude oil in line with other developed economies to dampen prices. CL1! Down -0.28%, USOIL down -0.14% The world’s fourth-largest oil consumer is limited on how it can react with its reserves that can be used in times of shortage.The government is looking into … [Read more...] about Japan Officials Exploring Ways to Release Oil Reserves After US Request
Japan Approves $490 Billion Spending Package to Jump-Start Economy
Source: WSJ Japan’s government approved a $490B spending package to support recovery from the Covid-19 pandemic after recent economic challenges. Nikkei 225 up +0.50%, JPY USD up +0.34% The size of the spending package was close to double what analysts were anticipating earlier this month and amounted to nearly 10% of Japan’s gross domestic product.The package contrasts … [Read more...] about Japan Approves $490 Billion Spending Package to Jump-Start Economy
House Set to Pass $2Trillion Social Spending Bill With Consolidated Democrats’ Vote
Source: The Wall Street Journal The House is set to pass a roughly $2 trillion education, healthcare, and climate package, as Democrats are set to hold onto their slim majority to pass the bill. DXY up +0.34%, EUR USD down-0.51%. Even though the House vote would put the party closer to unifying their fractious wings behind the bill, the party still needs to move the … [Read more...] about House Set to Pass $2Trillion Social Spending Bill With Consolidated Democrats’ Vote
EURUSD Prediction as the ECB and Fed Divergence Widens
The EURUSD has been under intense pressure lately and is hovering near its lowest level since July last year. It has crashed by more than 8% this year. Similarly, the euro is trading at its lowest point in 21 months against the British pound. The EURCHF has also fallen to the lowest level since May 2020. The divergence between ECB and Fed The main reason why the EURUSD … [Read more...] about EURUSD Prediction as the ECB and Fed Divergence Widens
Interest Rate Hikes Unlikely for 2022, Says ECB’s Lagarde
Source: European Central Bank European Central Bank President Christine Lagarde emphasized that the “conditions to raise rates are unlikely to be met next year.” Euro Stoxx 50 down -0.33%, EUR USD -0.63% Lagarde made the comments to Frankfurt European Banking Congress when she warned that the ECB “must not rush into a premature tightening” of monetary policy.The euro … [Read more...] about Interest Rate Hikes Unlikely for 2022, Says ECB’s Lagarde
