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🚨Latest Market Hot News!

🚨Latest Market Hot News!

WilsonWilson
2024-05-31
Summary：Poor industrial output and a weakening yen 📊 Today's data shows a sharp drop in industrial production, especially in transport, machinery, and electronics.

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Latest Market Hot News!

Industrial output disappoints, yen weakens.

#USDJPY saw a significant drop yesterday, possibly due to the Bank of Japan using substantial monetary reserves for potential intervention.

Despite a slight rebound, the currency pair remains near recent highs due to ongoing economic troubles in Japan. Today's data shows a sharp contraction in industrial production due to declines in shipments of transport, machinery, and electronic products.

The focus now shifts to the #Personal Consumption Expenditure Price Index, the #Federal Reserve's preferred inflation gauge. The market remains anxious as Fed officials suggest further rate hikes if inflation stays elevated.

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Wilson
Written byWilson
Created date:2024-05-31 06:00
Last Updated:2024-05-31 09:08
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Currency devaluation

Currency depreciation refers to the decline in the value of a country's currency relative to other currencies in the foreign exchange market.

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