Japan's cash earnings growth slowed to 3.2% year on year in May Japan's preliminary cash earnings growth slowed to 3.2% year on year in May, down from 3.6% in April. The slower wage growth is unlikely to stop the Bank of Japan from raising interest rates further.
Cooling US jobs data and lower oil prices reduce expectations for Federal Reserve rate hikes, weakening the USD. GBP/USD climbed to 1.3390 in Asian trading, marking its ninth straight session of gains. The rally follows a pullback in Fed rate hike expectations after softer
Southbound Bond Connect quota increased to 800 billion yuan The Southbound Bond Connect quota has been increased to 800 billion yuan from 500 billion yuan, expanding mainland investors' access to Hong Kong's bond market. This move is expected to support demand for
Unverified reports claim a former Tsinghua professor was briefly held after comparing China's outlook to Japan's lost decades. An unverified social media post alleges a former Tsinghua University associate professor was detained and had his accounts erased after delivering
China’s central bank set the USD/CNY fixing higher than expected, signaling potential yuan weakness amid market volatility. The People’s Bank of China set the USD/CNY reference rate at 6.8054, above the 6.7838 estimate from analysts. The move allows the yuan to trade withi
The currency pair remains near a two-week high amid elevated risks in the Strait of Hormuz supporting the US dollar. The EUR/USD pair continued its sideways movement in early Asian trading on Tuesday but stayed firmly above the 1.1400 level. The pair remains close to a nea
Weaker ANZ–Indeed job advertisements in June signal cooling labor market conditions, pressuring the Australian Dollar. The Australian Dollar (AUD) retreated to around 0.6950 against the USD in Asian trading on Tuesday, reversing two days of gains. The decline follows a dro
June data shows a 0.2% drop in ANZ–Indeed Job Ads, signaling labor market cooling amid high borrowing costs and economic uncertainty. AUD/USD retreated to around 0.6950 in Asian trading Tuesday, reversing two days of gains. The decline follows a 0.2% month-over-month drop
China’s central bank will announce its daily yuan reference rate, influencing onshore trading within a 2% band around the midpoint. The People’s Bank of China is expected to set the USD/CNY reference rate at approximately 6.7838, a key benchmark for the yuan’s daily tradin
Samsung’s Q2 operating profit of $57.6 billion surpasses estimates but shares decline, dragging South Korea’s benchmark index lower. Samsung Electronics reported a Q2 operating profit of $57.6 billion, exceeding the $55.6 billion estimate. Despite the earnings beat, shares
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