Latest news with #JosephCapurso
Yahoo
5 days ago
- Business
- Yahoo
Singapore Dollar Weakens Slightly; Focus on U.S. Labor Data
FOREIGN EXCHANGE 0352 GMT — The Singapore dollar weakens slightly against its U.S. counterpart in the Asian session. The greenback has risen modestly following stronger-than-expected U.S. job openings data released Tuesday, CBA's Joseph Capurso says in a note.
Wall Street Journal
23-05-2025
- Business
- Wall Street Journal
Yen Strengthens Slightly on Signs of Japan's Inflation Picking Up
0036 GMT — The yen strengthens slightly against most other G-10 and Asian currencies on signs of Japan's inflation picking up, which could back the case for further BOJ rate hikes. Data released earlier showed consumer prices excluding volatile fresh food rose 3.5% in April from a year earlier, compared with March's 3.2% increase. However, U.S. tariffs on Japan's imports will probably generate a 'deflationary impulse' in Japan unless they can be negotiated away, CBA's Joseph Capurso says in a research report. 'Therefore, the BOJ's next rate hike is uncertain,' the head of International and Sustainable Economics adds. USD/JPY edges 0.1% lower to 143.82; AUD/JPY is down 0.1% at 92.24. (
Business Recorder
22-05-2025
- Business
- Business Recorder
New Zealand dollar struggles as tight budget signals more policy easing
SYDNEY: The New Zealand dollar eased on Thursday as the government's tight budget position reinforced the need for policy easing as soon as next week to fend off global risks, while its Australian cousin flatlined. New Zealand's government forecast a narrower budget deficit for the fiscal year ending June 30, 2025, as it focused on fiscal prudence even as the global tariff war is expected to dampen the trade-dependent country's economic revival. The kiwi dollar held on to earlier losses and was last down 0.3% at $0.5924. It eked out a small gain of 0.2% overnight and has remained corralled within a range of $0.5847 to $0.6029 that has held for the past month. Two-year swap rates fell 3 basis points to 3.1375% as the tight budget reinforced the case of more policy easing. Markets now imply rates reaching 2.83% by year-end, compared to 3.0% early in the week. The Reserve Bank of New Zealand is widely expected to cut its Official Cash Rate (OCR) to 3.25% at a policy meeting next week on Wednesday. 'Assuming no surprise on the decision front, the RBNZ could nonetheless move the market considerably with what it chooses to publish for the forward track for the OCR,' said Sharon Zollner, chief economist at ANZ. 'Uncertainty is high.' The Aussie was little changed at $0.6441, having edged up 0.2% overnight to a high of $0.6469. Australia, NZ dollars make the most of US tariff tangle It has been trading within a narrow range of 64 to 65 cents for the past week or so. Bond markets that have cheered the dovish tilt from the Reserve Bank of Australia this week came under pressure on Thursday as US yields kept rising on concerns about debt. Three-year futures fell 4 ticks to 96.47 on Thursday, having hit a 10-day high of 96.59 overnight. For the week, they are still up 12 ticks. The Commonwealth Bank of Australia lifted on Wednesday its forecast for the Australian dollar to 70 cents in the second half of the year. 'While we are positive about AUD/USD in the medium term, we predict a volatile ride for AUD/USD… AUD/USD is vulnerable to sharp decreases in the next quarter or two if uncertainty increases again,' said Joseph Capurso, head of international economics at CBA.
Wall Street Journal
07-05-2025
- Business
- Wall Street Journal
Most G-10, Asian Currencies Weaken Ahead of FOMC Meeting's Outcome
0035 GMT — Most G-10 and Asian currencies weaken against the dollar in early trade, ahead of the FOMC meeting's outcome due later today. The greenback could strengthen if Fed Chair Powell is perceived to be hawkish, CBA's Joseph Capurso says in a research report. This is because Powell may not want to validate market pricing for a 25bp cut in June amid high economic uncertainty, and he might seek to assert the central bank's independence from politics, says the head of International and Sustainable Economics. ICE USD Index rises 0.4% to 99.60 and USD/JPY gains 0.5% to 143.17, according to FactSet. (
Wall Street Journal
16-04-2025
- Business
- Wall Street Journal
Asian Currencies Mixed Ahead of China Economic Data
0024 GMT — Asian currencies are mixed against the U.S. dollar in the early session ahead of China's economic data due out today. The Australian dollar may undergo a small relief rally against the offshore Chinese yuan today if the data are better than expected, CBA's Joseph Capurso says in a research report. However, China hasn't responded to President Trump's call on the country to reach out to him to begin trade talks, the head of International and Sustainable Economics says. 'The longer the dispute continues, the greater the downside risks to the Chinese and U.S. economies,' Capurso adds. AUD/USD is little changed at 0.6343; USD/KRW edges 0.1% higher to 1,429.85; USD/JPY is down 0.3% at 142.87. (
