World

Yen jumps; dollar tentative ahead of U.S. inflation data

Published

2 years ago

January 11, 2023

Yen jumps; dollar tentative ahead of U.S. inflation data

SINGAPORE, Jan 12 (Reuters) – The yen acquired a lift on Thursday on expectations that the Financial institution of Japan will overview the unintended effects of its financial easing, whereas the greenback paused its retreat and wobbled close to a seven-month low towards the euro forward of U.S. inflation knowledge later within the day.

The Japanese yen jumped practically 0.7% to 131.58 per greenback in early Asia commerce, following a Yomiuri report that the BOJ will overview the unintended effects of its financial easing at subsequent week’s coverage conferences and will take extra steps to appropriate distortions within the yield curve. The yen final purchased 131.92 per greenback.

The information follows the BOJ’s shock tweak in December to its bond yield management, although the transfer has failed to handle distortions brought on within the bond market from the central financial institution’s large bond shopping for.

“The report is probably going so as to add on to the (yen) optimism,” stated Saktiandi Supaat, regional head of FX analysis and technique at Maybank.

“The upcoming BOJ assembly … expectations of upward revisions to the financial institution’s inflation forecast and the forthcoming announcement of a brand new BOJ governor, will seemingly feed into the expectation of a coverage shift.”

Elsewhere, the greenback stood cautiously regular forward of the intently watched U.S. inflation knowledge out in a while Thursday, which is able to present extra readability on how a lot inflation on this planet’s largest economic system has tamed and on the Federal Reserve’s rate-hike path.

Sterling was little modified at $1.21505, whereas the U.S. greenback index crept 0.02% larger to 103.14, although remained not far off its seven-month low of 102.93 hit earlier within the week.

Expectations that the Fed could also be nearing the tip of its aggressive financial coverage tightening marketing campaign and that it might not have to boost charges as excessive as beforehand feared, has already despatched the dollar tumbling to contemporary lows towards its friends this 12 months.

“I believe if we do get a fairly smooth CPI report … that will point out that inflation is on a sustained downward pattern, which is what the FOMC is in search of,” stated Carol Kong, a foreign money strategist at Commonwealth Financial institution of Australia.

The euro was final 0.07% larger at $1.0764, after having surged to a seven-month peak of $1.07765 within the earlier session.

“The euro has … strengthened on the again of some dovish repricing for the FOMC and likewise on high of that, we have got this belatedly hawkish ECB.”

The Aussie rose 0.11% to $0.69135, whereas the kiwi edged up 0.13% to $0.6375.

Australian inflation knowledge launched on Wednesday confirmed that annual inflation re-accelerated to 7.3% in November, after a shock dip to six.9% in October, underscoring the problem going through the Reserve Financial institution of Australia because it tries to chill the economic system.

“Some outsize rises within the worth of a lot of parts imply that we could also be ready one other month or two earlier than we will confidently name ‘peak inflation’ in Australia,” stated Rob Carnell, ING’s regional head of analysis, Asia-Pacific.

The 2 antipodean currencies have began the 12 months on a robust footing towards the backdrop of China’s reopening, which has pushed demand for riskier property.

The Chinese language offshore yuan rose to a five-month high of 6.7545 per greenback on Thursday.

Reporting by Rae Wee; Enhancing by Christopher Cushing

Our Requirements: The Thomson Reuters Belief Ideas.

Related Topics:AMERS asia ASXPAC AU AUNZ CA CEN CN EASIA EMRG EUROP EZ Featured FIN FRX GB jp MKTREP NAMER NZ REP us usd WEU

Click to comment

World

Italian state railways plans 1.3 bln euro investment in solar plant

Published

6 hours ago

December 22, 2024

Press Room

Italian state railways plans 1.3 bln euro investment in solar plant

Italian state railways Ferrovie dello Stato plans to invest 1.3 billion euros ($1.36 billion) in a photovoltaic plant with an initial 1 gigawatt (GW) capacity that would cover 19% of its energy needs by 2029, the CEO said in a newspaper interview.

World

Christmas in Puerto Rico is a 45-day celebration with caroling, festive decorations, family feasts and more

Published

6 hours ago

December 22, 2024

Press Room

Christmas in Puerto Rico is a 45-day celebration with caroling, festive decorations, family feasts and more

Christmas, Navidad in Puerto Rico, extends far beyond Dec. 25.

The island proudly proclaims itself as having the “longest holiday season in the world,” according to the website Discover Puerto Rico.

On average, the holiday festivities in Puerto Rico last about 45 days, per the source, commencing right after Thanksgiving, and stretching all the way through mid-January.

The Christmas season in Puerto Rico typically lasts around 45 days. (iStock)

HOW TO SAY ‘MERRY CHRISTMAS’ IN 10 LANGUAGES TO FRIENDS AROUND THE WORLD

The holiday season in Puerto Rico is full of rich traditions beloved by families.

One tradition those who visit Puerto Rico will immediately notice during the holiday season is decorations.

In Puerto Rico, decorations are typically put up by Thanksgiving, and kept up until the season concludes in mid-January, with opportune picture moments at every corner.

Parrandas, Christmas caroling, is a holiday staple.

17 SECRET TRAVEL TIPS FOR FALL AND WINTER THAT AREN’T SO SECRET AFTER ALL

Carolers choose houses of family and friends to visit, typically starting around 10 p.m., performing aguinaldos (traditional Christmas songs), with not only their voices, but often with instruments as well, according to Discover Puerto Rico.

The group you begin caroling with is likely not the same group you end with.

In Puerto Rico, when carolers visit a house, they’ll often stop inside for conversation, food and drink before moving to the next residence.

Coquito is a popular beverage enjoyed during the holiday season in Puerto Rico. Coconut, vanilla and rum are among the ingredients. (Mayra Beltran/Houston Chronicle via Getty Images)

Usually, the residences of the house visited will join the group for the next house, according to Discover Puerto Rico.

CHRISTMAS TREES IN GERMANY WERE DECORATED WITH APPLES INSTEAD OF ORNAMENTS IN THE 1600S FOR ‘ADAM AND EVE DAY’

A night of serenading loved ones can last quite a while, often stretching into the early morning hours of the following day, according to the source.

The biggest day of the holiday season in Puerto Rico actually isn’t Christmas, but instead, the night before.

In Puerto Rico, Dec. 24 is Nochebuena. On that day, loved ones gather for the exchange of gifts, caroling and a large feast.

Many families will also attend a midnight Mass on the day, known as Misa de Gallo.

FLIGHT ATTENDANTS REVEAL THE SURPRISING DAY TO TRAVEL AHEAD OF THE CHRISTMAS RUSH

After Christmas passes, the festivities go on in Puerto Rico.

Another big event in the holiday lineup is Three Kings Day on Jan. 6, a holiday that “commemorates the visit that the Three Wise Men paid to Jesus after his birth,” according to Discover Puerto Rico.

On the eve of the day, children fill up a shoebox with grass to be left for camels to munch on while the Three Kings leave behind gifts for them, according to PuertoRico.com.

For a particularly festive Three Kings Day, Juana Díaz is the place to go, as it hosts the largest celebration in Puerto Rico for the holiday. In Juana Díaz, there is an annual festival and parade in honor of Three Kings Day that brings together over 25,000 people every year, according to Discover Puerto Rico.

Gifts are primarily exchanged between loved ones on Christmas Eve in Puerto Rico. (iStock)

Then, eight days later is Octavitas, a post-holiday celebration where families get together and celebrate one last time for the season.

The end of the holiday season is marked with the San Sebastián Street Festival.

This festival, spanning over multiple days, takes place in Old San Juan, and is filled with live music, dancing, shopping and parades.

Ashlyn Messier is a writer for Fox News Digital.

World

Small plane crashes into Brazil town popular with tourists, killing 10

Published

7 hours ago

December 22, 2024

Press Room

Small plane crashes into Brazil town popular with tourists, killing 10

Twin-engine plane crashed in largely residential neighborhood of Gramado shortly after takeoff, authorities say.

A small plane has crashed into a tourist hotspot in southern Brazil, killing all 10 people on board and injuring more than a dozen people on the ground, officials have said.

The twin-engine Piper PA-42-1000 hit the chimney of a home and the second floor of a different house before crashing into a shop in a largely residential neighbourhood of Gramado shortly after takeoff from Canela, Brazil’s Civil Defense agency said on Sunday.

Rio Grande do Sul Governor Eduardo Leite told a news conference that the aircraft’s owner and pilot, Luiz Claudio Galeazzi, was killed along with nine members of his family.

Leite said that 17 people on the ground were injured, 12 of whom were still receiving treatment in hospital.

Galeazzi’s company, Galeazzi & Associados, confirmed that its CEO and Galeazzi’s wife and three daughters had died in the crash.

“Luiz Galeazzi will be forever remembered for his dedication to his family and for his remarkable career as a leader of Galeazzi & Associados,” the company said in a post on LinkedIn.

“In this moment of immense pain, Galeazzi & Associados is deeply grateful for the expressions of solidarity and affection received from friends, colleagues and the community. We also sympathize with all those affected by the accident in the region.”

Gramado, located in the Serra Gaucha mountains, is a popular destination for vacationers, especially during the Christmas season.

The crash comes a little more than a year after Brazil suffered its worst air disaster in nearly two decades when a twin-engine plane crashed in the southeastern city of Vinhedo, killing all 62 people on board.