Japan’s central bank says it’s ready to ramp up stimulus if a strong yen derails inflation target

Bank of Japan Governor Haruhiko Kuroda said on Tuesday the central bank was ready to ramp up stimulus if sharp yen rises hurt the economy and derail the path towards achieving its 2 percent inflation target. “If (currency moves) are having an impact on the economy and prices, and if we consider it necessary to achieve our price target, we’ll consider easing policy,” he said. Kuroda made the remarks in response to a question by an opposition lawmaker on whether the BOJ had the necessary tools to


Bank of Japan Governor Haruhiko Kuroda said on Tuesday the central bank was ready to ramp up stimulus if sharp yen rises hurt the economy and derail the path towards achieving its 2 percent inflation target. “If (currency moves) are having an impact on the economy and prices, and if we consider it necessary to achieve our price target, we’ll consider easing policy,” he said. Kuroda made the remarks in response to a question by an opposition lawmaker on whether the BOJ had the necessary tools to
Japan’s central bank says it’s ready to ramp up stimulus if a strong yen derails inflation target Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: akio kon, bloomberg, getty images
Keywords: news, cnbc, companies, remarks, inflation, tools, policy, central, yen, derails, sharp, ramp, economy, ready, japans, target, stimulus, easing, boj, impact, strong


Japan's central bank says it's ready to ramp up stimulus if a strong yen derails inflation target

Bank of Japan Governor Haruhiko Kuroda said on Tuesday the central bank was ready to ramp up stimulus if sharp yen rises hurt the economy and derail the path towards achieving its 2 percent inflation target.

But he said the BOJ would carefully weigh the benefits and costs of any further policy easing, suggesting that the hurdle for topping up stimulus would be high given how financial institutions’ profits have been hurt by years of near-zero interest rates.

“Currency moves could have an impact on the economy and prices, so it’s crucial we take into account these factors when guiding monetary policy,” Kuroda told parliament.

“If (currency moves) are having an impact on the economy and prices, and if we consider it necessary to achieve our price target, we’ll consider easing policy,” he said.

Kuroda made the remarks in response to a question by an opposition lawmaker on whether the BOJ had the necessary tools to boost stimulus to counter the pressure from a sharp yen rise.

The dollar received a mild lift versus the yen after Kuroda’s remarks. It stood little changed at 110.655 yen after dipping as low as 110.45 earlier in the day.

Kuroda repeated that possible monetary easing tools the BOJ could deploy included cutting short- and long-term interest rates, expanding asset buying or accelerating the pace of money printing.

“Whatever we do, however, we need to carefully balance the benefits and the costs of the step such as the impact on financial intermediation and market functioning.”


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: akio kon, bloomberg, getty images
Keywords: news, cnbc, companies, remarks, inflation, tools, policy, central, yen, derails, sharp, ramp, economy, ready, japans, target, stimulus, easing, boj, impact, strong


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SoftBank’s Masayoshi Son may have become billions richer in one day

SoftBank Group Founder and Chief Executive Masayoshi Son, already one of Asia’s richest men, may have just added billions into his pocket from Thursday’s trading session. SoftBank’s stock ended Thursday’s session in Japan at 9,962.0 yen per share, a 17.73 percent gain over its last close at 8462.0. Son owned 231,205,000 shares in the Japanese conglomerate as of Sept. 30, 2018, according to the company’s website. If that number is still accurate, then that would mean Thursday’s stock move made So


SoftBank Group Founder and Chief Executive Masayoshi Son, already one of Asia’s richest men, may have just added billions into his pocket from Thursday’s trading session. SoftBank’s stock ended Thursday’s session in Japan at 9,962.0 yen per share, a 17.73 percent gain over its last close at 8462.0. Son owned 231,205,000 shares in the Japanese conglomerate as of Sept. 30, 2018, according to the company’s website. If that number is still accurate, then that would mean Thursday’s stock move made So
SoftBank’s Masayoshi Son may have become billions richer in one day Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: eustance huang, kazuhiro nogi, afp, getty images
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SoftBank's Masayoshi Son may have become billions richer in one day

SoftBank Group Founder and Chief Executive Masayoshi Son, already one of Asia’s richest men, may have just added billions into his pocket from Thursday’s trading session.

SoftBank’s stock ended Thursday’s session in Japan at 9,962.0 yen per share, a 17.73 percent gain over its last close at 8462.0.

Son owned 231,205,000 shares in the Japanese conglomerate as of Sept. 30, 2018, according to the company’s website. If that number is still accurate, then that would mean Thursday’s stock move made Son about 346.81 billion yen ($3.15 billion) richer.


Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: eustance huang, kazuhiro nogi, afp, getty images
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SoftBank shares surge after Masayoshi Son announces stock buyback

“There’s a part of me that thinks maybe (Son’s) trying to make up for the … mispricing in SoftBank Corp,” he added, saying the pricing of the domestic telecommunications unit’s IPO was “way too high.” The buyback comes after SoftBank Group raised 2.35 trillion yen in December by listing about a third of the shares in SoftBank Corp, which on Tuesday reported a 24 percent jump in quarterly operating profit. Beyond the announced share buyback, Dan Baker, an analyst at Morningstar, pointed to othe


“There’s a part of me that thinks maybe (Son’s) trying to make up for the … mispricing in SoftBank Corp,” he added, saying the pricing of the domestic telecommunications unit’s IPO was “way too high.” The buyback comes after SoftBank Group raised 2.35 trillion yen in December by listing about a third of the shares in SoftBank Corp, which on Tuesday reported a 24 percent jump in quarterly operating profit. Beyond the announced share buyback, Dan Baker, an analyst at Morningstar, pointed to othe
SoftBank shares surge after Masayoshi Son announces stock buyback Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: eustance huang, kiyoshi ota, bloomberg, getty images
Keywords: news, cnbc, companies, nvidia, son, announced, buyback, yen, announces, shares, thursdays, surge, stock, baker, worth, corp, masayoshi, softbank


SoftBank shares surge after Masayoshi Son announces stock buyback

“There’s a part of me that thinks maybe (Son’s) trying to make up for the … mispricing in SoftBank Corp,” he added, saying the pricing of the domestic telecommunications unit’s IPO was “way too high.”

The buyback comes after SoftBank Group raised 2.35 trillion yen in December by listing about a third of the shares in SoftBank Corp, which on Tuesday reported a 24 percent jump in quarterly operating profit.

Beyond the announced share buyback, Dan Baker, an analyst at Morningstar, pointed to other possible reasons for Thursday’s strong gains.

One of those was that SoftBank earnings were presented in a different manner to highlight “sum-of-the-parts valuations rather than discussing results of individual businesses,” Baker told CNBC in an email.

Baker also cited the additional details surrounding the performance of SoftBank’s Vision Fund and the use of hedging to lock in the company’s gains in chipmaker Nvidia as potential catalysts for Thursday’s stock move upward.

SoftBank announced on Wednesday that it had dumped its entire stake, worth more than $3 billion, in Nvidia in January.

— Reuters contributed to this report.

Clarification: This article has been updated to clarify that SoftBank shares surged on the Thursday trading day in Japan.


Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: eustance huang, kiyoshi ota, bloomberg, getty images
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Aussie under pressure after RBA’s dovish shift, yen firmer

In early trade, the Aussie dollar was marginally lower at $0.7103, having lost 1.8 percent in the previous session, its largest percentage decline in more than a year. “We have a clear trading range for the Aussie dollar. The shift in the RBA’s stance will likely make the Aussie test the $0.70 level versus the dollar,” added Michael McCarthy, chief markets strategist at CMC Markets. On Wednesday, the kiwi tracked the Aussie dollar’s fall, losing 1.72 percent, its steepest percentage decline sinc


In early trade, the Aussie dollar was marginally lower at $0.7103, having lost 1.8 percent in the previous session, its largest percentage decline in more than a year. “We have a clear trading range for the Aussie dollar. The shift in the RBA’s stance will likely make the Aussie test the $0.70 level versus the dollar,” added Michael McCarthy, chief markets strategist at CMC Markets. On Wednesday, the kiwi tracked the Aussie dollar’s fall, losing 1.72 percent, its steepest percentage decline sinc
Aussie under pressure after RBA’s dovish shift, yen firmer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: istock, getty images
Keywords: news, cnbc, companies, rbas, firmer, risks, lost, yen, british, shift, investors, dollar, aussie, dovish, versus, rates, interest, currency, pressure


Aussie under pressure after RBA's dovish shift, yen firmer

The Australian dollar remained near a two-week low on Thursday, as investors wagered that interest rates would most likely be cut this year due to mounting growth risks at home and abroad.

Australia’s central bank on Wednesday opened the door to a possible rate cut as it acknowledged growing economic risks in a remarkable shift from its long-standing tightening bias that sent the local dollar sliding.

In early trade, the Aussie dollar was marginally lower at $0.7103, having lost 1.8 percent in the previous session, its largest percentage decline in more than a year.

“We have a clear trading range for the Aussie dollar. The shift in the RBA’s stance will likely make the Aussie test the $0.70 level versus the dollar,” added Michael McCarthy, chief markets strategist at CMC Markets.

The New Zealand dollar was flat at $0.6765, after falling 0.1 percent earlier in the session after weaker-than-expected unemployment data on Thursday. On Wednesday, the kiwi tracked the Aussie dollar’s fall, losing 1.72 percent, its steepest percentage decline since Aug. 9, 2018.

The yen was steady versus the greenback at 109.91. The dollar has gained around one percent versus the Japanese currency so far this month as global risk sentiment improved leading to a modest rally in global equities.

The dollar index, a gauge of its value versus six major peers was steady at 96.35, hovering close to its two-week high in early Asian trade.

The dollar index has gained for three consecutive sessions, mainly thanks to a weaker euro, which constitutes around 58 percent of the index.

The single currency was flat at $1.1364, having lost 0.45 percent of its value on Wednesday. The euro has lost around 1.3 percent over the last week as investors bet that the European Central Bank will keep monetary policy accommodative due to weaker-than-expected growth and low inflation in the common area.

Elsewhere, sterling was marginally higher at $1.2930. The British pound has weakened by 1.3 percent in February due to Brexit woes. The United Kingdom is currently on course to leave the European Union on March 29 without a deal unless British Prime Minister Theresa May can convince the bloc to reopen the divorce agreement she reached in November and then sell it to skeptical British lawmakers.

The Bank of England is scheduled to meet later on Thursday and is widely expected to keep interest rates unchanged.

“The BoE won’t even consider changing interest rates until the terms to leaving the EU become clear,” said Kathy Lien, managing director of currency strategy at BK Asset Management.

“BoE Governor Mark Carney will reiterate his warning about the risks of a disorderly Brexit and reassure investors that they are ready to increase stimulus if it causes a major disruption in the markets,” added Lien.


Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: istock, getty images
Keywords: news, cnbc, companies, rbas, firmer, risks, lost, yen, british, shift, investors, dollar, aussie, dovish, versus, rates, interest, currency, pressure


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SoftBank Group unveils $5.5 billion stock buyback, Q3 profit soars 60 percent

Japan’s SoftBank Group Corp announced a $5.5 billion share buyback on Wednesday as it reported a 60 percent rise in quarterly operating profit buoyed by rising valuations for its technology investments. SoftBank Group said it would repurchase 112 million shares worth 600 billion yen ($5.5 billion) in the next 11 months, or about 10.3 percent of its total outstanding shares, excluding treasury stock. The buyback comes after SoftBank Group raised 2.35 trillion yen in December by listing about a th


Japan’s SoftBank Group Corp announced a $5.5 billion share buyback on Wednesday as it reported a 60 percent rise in quarterly operating profit buoyed by rising valuations for its technology investments. SoftBank Group said it would repurchase 112 million shares worth 600 billion yen ($5.5 billion) in the next 11 months, or about 10.3 percent of its total outstanding shares, excluding treasury stock. The buyback comes after SoftBank Group raised 2.35 trillion yen in December by listing about a th
SoftBank Group unveils $5.5 billion stock buyback, Q3 profit soars 60 percent Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, stock, unveils, buyback, quarterly, reported, yen, profit, softbank, 60, valuations, soars, group, operating, q3, shares, billion, technology


SoftBank Group unveils $5.5 billion stock buyback, Q3 profit soars 60 percent

Japan’s SoftBank Group Corp announced a $5.5 billion share buyback on Wednesday as it reported a 60 percent rise in quarterly operating profit buoyed by rising valuations for its technology investments.

SoftBank Group said it would repurchase 112 million shares worth 600 billion yen ($5.5 billion) in the next 11 months, or about 10.3 percent of its total outstanding shares, excluding treasury stock.

The buyback comes after SoftBank Group raised 2.35 trillion yen in December by listing about a third of the shares in domestic telco SoftBank Corp, which on Tuesday reported a 24 percent jump in quarterly operating profit.

SoftBank Group said its operating profit in the October-December quarter was 438.3 billion yen ($3.99 billion) versus 274 billion yen a year earlier. The year-earlier figure used previous accounting standards.

Profits at SoftBank Group are increasingly affected by the valuations of big technology bets through its own investing activities and its Saudi-backed Vision Fund, which launched last year with over $90 billion in capital.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: kazuhiro nogi, afp, getty images
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Dollar holds steady, unfazed by Trump’s State of the Union address

The dollar held steady against its peers on Wednesday, showing little reaction to U.S. President Donald Trump’s State of the Union address which touched upon trade and budget issues but provided investors with few surprises. The dollar index against a basket of six major currencies was little changed at 96.072, after briefly touching a near two-week high of 96.135. “The fall by the Australian dollar appears to have generated more attention,” Sera added. The Australian dollar tumbled after centra


The dollar held steady against its peers on Wednesday, showing little reaction to U.S. President Donald Trump’s State of the Union address which touched upon trade and budget issues but provided investors with few surprises. The dollar index against a basket of six major currencies was little changed at 96.072, after briefly touching a near two-week high of 96.135. “The fall by the Australian dollar appears to have generated more attention,” Sera added. The Australian dollar tumbled after centra
Dollar holds steady, unfazed by Trump’s State of the Union address Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: athit perawongmetha
Keywords: news, cnbc, companies, brexit, trade, dollar, trumps, state, unfazed, yen, union, steady, little, bank, australian, lowe, yields, address, holds, rate


Dollar holds steady, unfazed by Trump's State of the Union address

The dollar held steady against its peers on Wednesday, showing little reaction to U.S. President Donald Trump’s State of the Union address which touched upon trade and budget issues but provided investors with few surprises.

In an annual speech on Tuesday outlining his priorities for the coming year, President Trump said that illegal immigration was an urgent national crisis and reiterated his vow to build a border wall.

Trump also said any trade agreement with China “must include real, structural change to end unfair trade practices, reduce our chronic trade deficit, and protect American jobs.”

The dollar index against a basket of six major currencies was little changed at 96.072, after briefly touching a near two-week high of 96.135.

“Trump’s address did not contain surprises. He did not, for example, declare a state of emergency (over border funding) nor make surprising comments about China,” said Ayako Sera, senior market economist at Sumitomo Mitsui Trust.

“The fall by the Australian dollar appears to have generated more attention,” Sera added.

The Australian dollar tumbled after central bank chief Philip Lowe opened the door to a possible rate cut after more than a year of signalling tighter future policy.

In his first public speech of the year, Lowe said rates could go in either direction, depending on the labor market and inflation.

The Aussie dollar was last down 1 percent at $0.7165.

The Reserve Bank of Australia has left its official cash rate at a record low of 1.50 percent since August 2016 and Governor Lowe had repeatedly emphasized the next move was more likely to be up.

The euro was little changed at $1.1400 after slipping 0.25 percent the previous day to its lowest since Jan. 28.

The single currency was pressured after a survey released on Tuesday showed euro zone businesses expanded at their weakest rate since mid-2013 at the start of the year.

The dollar edged down 0.15 percent to 109.78 yen after posting a gain of 0.4 percent overnight.

While the Japanese currency’s big gains against the downtrodden Aussie was seen as a factor weighing on dollar/yen, the greenback stayed in reach of a five-week peak of 110.165 yen reached on Monday.

The dollar has been managed to hold its ground although U.S. Treasury yields declined the previous day and pulled back from one-week highs.

“The dollar is managing to draw support in spite of lower Treasury yields thanks to a combination of a dovish-sounding Federal Reserve and U.S. data, which has been relatively strong on the whole recently,” said Shusuke Yamada, chief Japan FX and equity strategist at Bank Of America Merrill Lynch.

The Australian dollar was down more than 1 percent at 78.66 yen.

The pound remained on the back foot following a slump overnight. The currency was a shade lower at $1.2950 after brushing $1.2923, its lowest since Jan. 22.

Sterling had lost nearly 0.7 percent on Tuesday on a weak Purchasing Managers’ Index data and uncertainty about Brexit talks.

UK cabinet ministers have secretly held talks on plans to delay Brexit by eight weeks, the Telegraph newspaper reported late on Tuesday. The delay would postpone Brexit to May 24. Currently, Britain is due to leave the European Union on March 29.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: athit perawongmetha
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Toyota’s third-quarter operating profit rises 0.4 percent

Toyota Motor on Wednesday reported a 0.4 percent rise in third-quarter operating profit as continued increase in sales in Asia, including China, offset lower sales in North America, its biggest market. Japan’s largest automaker posted a profit of 676.1 billion yen ($6.16 billion) for the October to December period, from 673.64 billion yen in the same period a year earlier. The result compared with the 680.84 billion yen median of 10 analyst estimates compiled by Refinitiv. Toyota cut its full-ye


Toyota Motor on Wednesday reported a 0.4 percent rise in third-quarter operating profit as continued increase in sales in Asia, including China, offset lower sales in North America, its biggest market. Japan’s largest automaker posted a profit of 676.1 billion yen ($6.16 billion) for the October to December period, from 673.64 billion yen in the same period a year earlier. The result compared with the 680.84 billion yen median of 10 analyst estimates compiled by Refinitiv. Toyota cut its full-ye
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Toyota's third-quarter operating profit rises 0.4 percent

Toyota Motor on Wednesday reported a 0.4 percent rise in third-quarter operating profit as continued increase in sales in Asia, including China, offset lower sales in North America, its biggest market.

Japan’s largest automaker posted a profit of 676.1 billion yen ($6.16 billion) for the October to December period, from 673.64 billion yen in the same period a year earlier.

The result compared with the 680.84 billion yen median of 10 analyst estimates compiled by Refinitiv.

Toyota cut its full-year net profit forecast to 1.87 trillion yen from a previous forecast for 2.3 trillion yen. It left its full-year operating profit forecast unchanged at 2.4 trillion yen.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: shiho fukada, bloomberg, getty images
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Australian dollar reverses losses after RBA holds rates

The Australian dollar rose, reversing earlier losses, after the Reserve Bank of Australia (RBA) held rates at record lows at its first meeting of the year but sounded less dovish than expected. The dollar index, which measures the greenback against a basket of six key rivals, was barely changed at 95.846 after gaining for three straight sessions. It gained as Treasury yields rose with that of the 10-year jumping 9 basis points over the past two sessions. “It will be hard for the Australian dolla


The Australian dollar rose, reversing earlier losses, after the Reserve Bank of Australia (RBA) held rates at record lows at its first meeting of the year but sounded less dovish than expected. The dollar index, which measures the greenback against a basket of six key rivals, was barely changed at 95.846 after gaining for three straight sessions. It gained as Treasury yields rose with that of the 10-year jumping 9 basis points over the past two sessions. “It will be hard for the Australian dolla
Australian dollar reverses losses after RBA holds rates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: amr abdallah dalsh
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Australian dollar reverses losses after RBA holds rates

The dollar held on to recent gains against its major peers on Tuesday, supported by a recovery in investors’ risk appetite, which gave an overnight boost to U.S. yields.

The Australian dollar rose, reversing earlier losses, after the Reserve Bank of Australia (RBA) held rates at record lows at its first meeting of the year but sounded less dovish than expected.

The dollar index, which measures the greenback against a basket of six key rivals, was barely changed at 95.846 after gaining for three straight sessions.

“The overly pessimistic view on developed economies and the overly dovish view on the (Federal Reserve) is being unwound,” said Masafumi Yamamoto, chief currency strategist at Mizuho Securities.

Trading was likely to remain subdued in Asia with many markets across the region closed for Lunar New Year holidays for much of the week.

The index rose 0.7 percent after dipping last week below its 200-day moving average for the first time since early January 2018.

It gained as Treasury yields rose with that of the 10-year jumping 9 basis points over the past two sessions.

Yields have climbed after MSCI’s gauge of global stocks hit a two-month high on Monday as optimism over recently concluded U.S.-China trade talks helped send U.S. technology and industrial shares higher.

The Aussie was last up 0.4 percent at $0.7255 about 50 minutes after the RBA’s decision.

It had traded in negative territory during most of the session after retail sales for December came in weaker than expected.

“The key message from the RBA seems clear – that they have noted the weaker global outlook, ongoing steep declines in Sydney and Melbourne house prices and concede that the third quarter GDP (gross domestic product) report was a fizzer,” said Sean Callow, Sydney-based senior currency strategist at Westpac.

Some market players are still expecting a rate cut later this year due to mounting signs of economic weakness.

“It will be hard for the Australian dollar to close above $0.7300 given the stubbornness of rates markets still pricing in considerable chance of RBA easing this year, premised on the RBA simply being too optimistic,” said Callow.

The euro was flat at $1.1438, off three-week high of $1.15145 set on Thursday.

Against the Japanese yen, the dollar rose a tad to 109.93 yen. It had risen above 110 yen for the first time since Dec. 31 overnight.

“There’s further room to rise for the U.S. two-year yield. If this move continues, dollar/yen will rise above 110 again,’ said Mizuho’s Yamamoto.

Sterling was flat at $1.3038 after seesawing during the previous session on uncertainty over the way Britain will leave the European Union.

In late Monday trade, sterling gave up gains made earlier in the day after a newspaper report said that goods shipped to Britain from the European Union could be waved through without checks in the event of a “no-deal” Brexit.

The Canadian dollar was a shade weaker against the greenback.

It fell one tenth of a percent overnight, reversing some of last week’s rally, as oil prices fell and the greenback broadly climbed.


Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: amr abdallah dalsh
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Aussie dollar slides on dismal China data; yen steadies

The Australian dollar fell versus the greenback on Friday after a private survey showed factory activity in China shrank by the most in almost three years in January. The Australian dollar, often considered a barometer for global risk appetite, fell 0.4 percent to $0.7246. The yen was steady at 108.8 against the dollar after hitting a two-week high in the previous session. The dollar is widely expected to weaken this year as the Federal Reserve turns more cautious about further rate increases. A


The Australian dollar fell versus the greenback on Friday after a private survey showed factory activity in China shrank by the most in almost three years in January. The Australian dollar, often considered a barometer for global risk appetite, fell 0.4 percent to $0.7246. The yen was steady at 108.8 against the dollar after hitting a two-week high in the previous session. The dollar is widely expected to weaken this year as the Federal Reserve turns more cautious about further rate increases. A
Aussie dollar slides on dismal China data; yen steadies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: matt cardy, getty images
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Aussie dollar slides on dismal China data; yen steadies

The Australian dollar fell versus the greenback on Friday after a private survey showed factory activity in China shrank by the most in almost three years in January.

The Australian dollar, often considered a barometer for global risk appetite, fell 0.4 percent to $0.7246. The kiwi was at $0.6907, down 0.2 percent versus the greenback.

China’s gloomy factory readings have brought global growth worries to the fore again, which is likely to benefit safe-haven currencies such as the Japanese yen.

“Dollar/yen is expected to remain weak given a dovish Federal Reserve but we can expect a bigger move down if there is a return of risk-off sentiment,” said Sim Moh Siong, currency strategist at Bank of Singapore.

The yen was steady at 108.8 against the dollar after hitting a two-week high in the previous session.

However, broader risk sentiment still remained fairly strong after U.S. President Donald Trump said on Thursday he would meet with Chinese President Xi Jinping soon to try and seal a comprehensive trade deal as the top U.S. negotiator reported “substantial progress” in two days of high-level talks.

The dollar index, a gauge of its value versus six major peers, was steady at 95.60. The index is set to end the week in the red, after losing 0.6 percent of its value last week.

The dollar is widely expected to weaken this year as the Federal Reserve turns more cautious about further rate increases.

On Wednesday, the U.S. central bank held interest rates steady as expected but discarded pledges of “further gradual increases” in interest rates, and said it would be “patient” before making any further moves.

Trade talks between the United States and China could also have an impact on the dollar, which has acted as a safe-haven in times of uncertainty.

President Trump said he wanted a “very big” trade deal with China, but he signaled there could be delays if talks fail to meet his goals of opening the Chinese economy broadly to U.S. industry and agriculture.

Analysts say a comprehensive trade deal between the world’s two largest economies would most likely boost risk sentiment and lead to a weaker dollar.

Markets are now focusing on U.S. jobs data later on Friday. Analysts note that any weakness in the labor market and a fall in wage inflation would only reinforce the dovish outlook for the dollar this year.

The euro was flat at $1.1446 after having fallen 0.3 percent in the last session. The single currency has not managed to gain despite broader dollar weakness as growth and inflation in the euro zone remain weaker than expected.

Indeed, Jens Weidmann, the Bundesbank president and a member of the European Central Bank Governing Council, painted a bleak picture of the German economy on Thursday, saying the slump in Europe’s largest economy will last longer than initially thought.

Sterling, which is grappling with troubles of its own on uncertainty over a deal to avoid a chaotic British exit from the European Union, was flat at $1.3109. Analysts expect the British pound to remain volatile in the coming weeks.

— CNBC contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, trade, yen, versus, data, aussie, risk, deal, remain, expected, dollar, steadies, china, sentiment, dismal, slides, steady, president


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Japan’s Honda Motor third quarter profit plummets 40.2 percent, missing estimates

Honda Motor on Friday reported a 40.2 percent drop in third-quarter operating profit despite posting higher vehicle sales during the period, missing market expectations. Japan’s third-biggest automaker posted profit of 170.1 billion yen ($1.56 billion) for October-December, from 284.5 billion yen in the same period a year earlier. The result compared with the 208.8 billion yen median of 10 analyst estimates compiled by Refinitiv. Honda kept its full-year profit forecast at 790 billion yen, altho


Honda Motor on Friday reported a 40.2 percent drop in third-quarter operating profit despite posting higher vehicle sales during the period, missing market expectations. Japan’s third-biggest automaker posted profit of 170.1 billion yen ($1.56 billion) for October-December, from 284.5 billion yen in the same period a year earlier. The result compared with the 208.8 billion yen median of 10 analyst estimates compiled by Refinitiv. Honda kept its full-year profit forecast at 790 billion yen, altho
Japan’s Honda Motor third quarter profit plummets 40.2 percent, missing estimates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01
Keywords: news, cnbc, companies, trade, estimates, yen, vehicle, missing, quarter, japans, forecast, sales, billion, thirdbiggest, honda, period, profit, thirdquarter, plummets, 402, motor


Japan's Honda Motor third quarter profit plummets 40.2 percent, missing estimates

Honda Motor on Friday reported a 40.2 percent drop in third-quarter operating profit despite posting higher vehicle sales during the period, missing market expectations.

Japan’s third-biggest automaker posted profit of 170.1 billion yen ($1.56 billion) for October-December, from 284.5 billion yen in the same period a year earlier.

The result compared with the 208.8 billion yen median of 10 analyst estimates compiled by Refinitiv.

Honda kept its full-year profit forecast at 790 billion yen, although it now assumes that the domestic currency will trade around 111 yen to the U.S. dollar through March 31, from a previous forecast for 110 yen.


Company: cnbc, Activity: cnbc, Date: 2019-02-01
Keywords: news, cnbc, companies, trade, estimates, yen, vehicle, missing, quarter, japans, forecast, sales, billion, thirdbiggest, honda, period, profit, thirdquarter, plummets, 402, motor


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