The EUR/JPY cross regains positive traction on the first day of a new week and for now, seems to have stalled a two-day-old corrective decline from th
Apart from this, a generally positive tone around the equity markets, bolstered by the optimism over more stimulus measures from China, is seen as another factor weighing on the safe-haven JPY. China's top economic planner – the National Development and Reform Commission – said this Monday that it would establish a designated department to bolster the country's faltering private economy.
The shared currency, on the other hand, draws some support from the emergence of some US Dollar selling, though lacks bullish conviction in the wake of the uncertainty over further policy tightening by the. In fact, a slew of ECB policymakers last week kept the door open for more interest rate hikes in 2023. That said, market participants have been scaling back their expectations for an imminent interest rate hike in the wake of signs of easing underlying inflation in the Euro Zone.
The preliminary data released by the European Union’s statistics agency Eurostat last Thursday showed that the annualHarmonised Index of Consumer Prices rose 5.3% in August, matching the pace seen in July. That said, the Core HICP inflation, which excludes more volatile energy, food, alcohol and tobacco prices and is closely watched by ECB policymakers, edged lower to 5.3% YoY in August from 5.5% in the previous month.
The market worries were further fueled by Monday's release of the Euro Zone Sentix Investor Confidence Index, which fell to -21.5 in September from -18.9 in the previous month. The Expectations Index also dropped to -21.0 points, from -17.3 in August. Moreover, the Current Situation Index registered its lowest reading since November 2022 and declined to -22.0 points for the current month.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Eurozone Sentix Investor Confidence Index drops to -21.5 in September vs. -18.9 priorThe Eurozone Sentix Investor Confidence Index fell to -21.5 in September from -18.9 in August. The Expectations Index in the Eurozone also dropped to
Read more »
The Fed Is Heading for a $100 Billion Loss. It Is Making Plenty of Investor Winners Along the Way.With its rate hikes, the Federal Reserve has boosted the income from money-market funds 300-fold. It comes at its own expense.
Read more »
A potential new major city between Rio Vista and FairfieldAfter many months of reporters trying to find out who was buying up a large chunk of rural Solano County, we now know that an investor group, Flannery, which now calls itself Forever California, is behind the silent and mostly secret project.
Read more »
Fitbits, Apple Watches and Other Fitness Trackers Really Do Make You HealthierFamilies that track their physical activity together move more, but making habits stick is a challenge.
Read more »
Amazon Fire TV Stick 4K (and Max) discounted for Labor DayIf you bought a new TV but don't have access to Fire TV, then these Labor Day deals on the Stick TV 4K and 4K Max are perfect.
Read more »