By Neofytos Hadjinefytou
Market Update 24/02/2023
JPY – Bank of Japan Gov Designate Ueda Speech-
The Nominee Bank of Japan Governor Ueda gave a speech today, he emphasized on inflation and gave hints that should inflation persist a rate hike is in order. He made it clear though that BoJ will have a loose policy. His speech Caused the Yen to decline.
USD PCE – Personal consumption Expenditure-
It is a leading inflation measurement used by the Fed. it revolves around personal consumer expenditure. It is a huge reflection of consumer spending and in return it gives a much better view of the level of inflation.
The dollar yesterday had a rollercoaster movement mostly weakening while US indexes experienced gains. Today’ the positive data release caused a reverse direction. It shows that the US economy is resilient. The chances of another rate hike are increasing.
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