Japanese Yen Dec '24 (J6Z24)
Japanese Yen Futures Market News and Commentary
The dollar index (DXY00) today is down by -0.26%. The announcement of a ceasefire between Israel and Lebanon knocked WTI crude oil prices down more than -3% today and lowered inflation expectations, which might persuade the Fed to ease monetary policy, a negative factor for the dollar. Also, today's US economic news, showing a bigger-than-expected increase in weekly jobless claims and a larger-than-expected downward revision to Q1 nonfarm productivity, is bearish for the dollar.Â
US weekly initial unemployment claims rose +13,000 to a 3.75-month high of 225,000, showing a weaker labor market than expectations of 215,000.
US Q1 nonfarm productivity was revised downward to 0.3% from the previously reported 0.8%, weaker than expectations of 0.4%. Q1 unit labor costs were unexpectedly revised downward to 1.8% from 2.3%, weaker than expectations of an upward revision to 2.4%.
Late Wednesday, the US said Israel and Lebanon agreed to a ceasefire if Hezbollah also stops... Read more
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