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<p>ECB Governing Council member Madis Muller said the central bank might not need to boost the crisis asset purchases. He said, “if in the second half economic growth in general recovers as the ECB forecasts and the inflation outlook doesn’t worsen additionally, then I think an additional increase in asset purchase program isnR

<p>FOMC meeting is the major focus for today and there is no doubt that Fed will keep policy unchanged. Federal funds rate target will be held at 0.00-0.25% while the QE-without-limit program will be maintained. A major focus will be on the first update to economic projections since last December. In particular, the expected strength [&hellip

<p>Dollar index dropped further to close at 96.32 yesterday, mainly due to decline in USD/JPY this time. More pressure is likely to be seen today as EUR/USD looks set to resume recent rise through 1.1383 temporary top. while USD/JPY is still on track to 107.08 support and below. For now, considering oversold condition in daily […]

<p>Australia Westpac-Melbourne Institute consumer sentiment rose 6.3% to 93.7 in June, up from May’s 88.1. Confidence is now “back around pre-COVID levels”, and has recovered “all of the extreme 20% drop” seen after the pandemic exploded. It’s been buoyed by the country’s “continued success̶

<p>Yen, Swiss Franc and Dollar strengthen generally today as risk appetite is having a setback after dovish FOMC announcement overnight. While NASDAQ continued to defy gravity and extended the record run, DOW and S&P 500 closed mildly lower. Asian markets are also trading in red as pull back in stocks follow through. As a result, [&helli

<p>Stock markets are generally mixed today as NASDAQ seems unstoppable. But other indices, in Asia, Europe and even US look sluggish. OECD noted the equal probability of having a second wave of coronavirus spread or not. But that’s largely ignored by investors. In the currency markets, Dollar is back under pressure ahead of FOMC, tradin

<p>Dollar is back under pressure against and focus turns to FOMC meeting. NASDAQ managed to break 10k level for the first time, and closed up 0.29% at 9953. But DOW and S&P 500 ended lower. Mixed trading in stocks carry on in Asian session. Yen continues to ride on pull back in treasury yields and […]

<p>As expected, FOMC left its monetary policy measures unchanged and downgraded the macroeconomic outlook. The members also project that the policy rate will stay unchanged through 2020. The accompanying statement showed few changes. Yet, the pledge to increase purchases by at least their current rate signals that the central bank will likely

<p>Headline CPI slowed further to +2.4% y/y in May, from +3.3% a month ago. The market had anticipated a milder drop to +2.7%. The reading is the lowest since April 2019 and the first time below +3% since August 2019. Food inflation continued to ease significantly. Specifically, growth in pork price decelerated to +81.7% y/y, […]

<p>The excitement brought by OPEC+’s agreement to extend the output cut deal for a month to July short-lived. Crude oil price only climbed modestly higher after the news. Gains were quickly evaporated. Concerning OPEC+, the market is mainly concerned about compliance by some participants. A survey by S&P estimated that OPEC’s