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A look at the day ahead in European and global markets from Wayne Cole. It's been a slow start to what will be a holiday-shortened week for many centres, though that won't... -March 25, 2024 at 01:30 am EDT - MarketScreener
The Australian and New Zealand dollars crept higher on Thursday as a key commodity index jumped to four-month peaks and provided support amid a dearth of major domestic economic data. ...
The yen edged higher as data released on Monday showed Japan was not, in fact, in recession after economic growth was revised up to an annualised 0.4% for the December quarter. Reuters reported a growing number of Bank of Japan policymakers are warming to the idea of ending negative rates this month on expectations of hefty pay hikes in this year's annual wage negotiations. Core inflation is seen rising 0.3%, which will nudge the annual pace down to the lowest since early 2021 at 3.7%.
Revisions now put economic growth at +0.1% q/q in the fourth quarter, instead of -0.1%, so nullifying all the media lamentation about Japan's contraction. When it comes to about $4 trillion of annual GDP such a small revision is just statistical noise, but it fit the narrative of stabilisation that is encouraging the Bank of Japan to contemplate the end of negative interest rates. Four sources tell Reuters a growing number of policymakers are warming to the idea of normalising rates this month on expectations of hefty pay hikes in this year's annual wage negotiations.
A look at the day ahead in European and global markets from Wayne Cole. So Japan isn't in recession after all. Revisions now put economic growth at +0.1% q/q in the fourth quarter,... -March 11, 2024 at 01:30 am EDT - MarketScreener