WTI Falls to Seven-Week Low, Dips Below $80 Amid Unexpected Crude Inventory Increase
WTI Falls to Seven-Week Low, Dips Below $80 Amid Unexpected Crude Inventory Increase Western Texas Intermediate (WTI), the benchmark for US crude oil, dropped to a seven-week low, trading around $79.20 on Thursday. This decline was influenced by an unexpected increase in US crude inventories and diminishing geopolitical tensions in the Middle East. For the week ending April 26, US crude inventories unexpectedly rose by 7.256 million barrels, reaching 460.9 million barrels, compared to a […]
Ex-Official: Japan’s FX Intervention Marks Threshold
Ex-Official: Japan’s FX Intervention Marks ¥160 Threshold Columbia University academic and former finance ministry executive Takatoshi Ito indicated that Japanese authorities likely intervened in the currency market, viewing ¥160 to the dollar as a critical threshold. Ito, who has connections with former and current Japanese policymakers, suggested that interventions aim to curb speculative trading and set market expectations that the dollar might not rise beyond ¥160 against the yen. Japan’s financial officials are believed to […]
Asian Stocks Rise Post-Fed Decision; Yen Declines Resume
Asian Stocks Rise Post-Fed Decision; Yen Declines Resume Most Asian stocks rose following comments from Federal Reserve Chair Jerome Powell, which tempered expectations for further interest-rate hikes. Meanwhile, the yen weakened after briefly surging, indicating possible intervention. In market movements, equity indexes in Australia and Hong Kong saw gains, while Japanese stocks remained stable. U.S. stock futures experienced a rally, contrasting with a dip in European contracts. Market focus now shifts to forthcoming economic indicators, […]