News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.86% 🇪🇺EUR: 0.67% 🇨🇭CHF: 0.59% 🇬🇧GBP: 0.18% 🇨🇦CAD: -0.14% 🇯🇵JPY: -0.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/wQGKBz35p4
  • That is very disturbing news. Disney has announced it will layoff 28,000 employees owing to its struggle at theme parks. That follow up stimulus plan is even more necessary in the US
  • Disney plans to lay off 28,000 park employees. $DIS shares are 1.5% lower following the announcement
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 2.37% Gold: 0.91% Oil - US Crude: -0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/OcKlpGbJvJ
  • #Gold Price Outlook: $XAUUSD Pops, Resistance at Prior Support - https://t.co/ZMukXQfl3z https://t.co/ApjvP4xb1F
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.19%, while traders in EUR/USD are at opposite extremes with 61.70%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/2yhFXRJBjw
  • Micron Q4 2020 Earnings: Revenue: $6.06B vs $5.90B exp EPS: $1.08 vs $0.99 exp Guides Q1 revenue $5B to $5.4B vs $5.33B exp $MU shares just 1% higher in after-hours trading
  • Regeneron reports positive data for its Covid-19 antibody drug, saying it helped reduce viral levels and improved symptoms faster, according to CNBC
  • today's webinar has been archived and is ready to go https://www.dailyfx.com/forex/video/live_events/2020/09/29/us-dollar-price-action-setups-eur-usd-aud-usd-gbp-usd.html
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: US 500: 0.03% Wall Street: 0.02% Germany 30: 0.02% France 40: -0.07% FTSE 100: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/BPGABPy6pD
Japan Offers Wish-List for Post-Brexit UK, EU Relationship

Japan Offers Wish-List for Post-Brexit UK, EU Relationship

2016-09-06 05:23:00
Daniel Dubrovsky, Varun Jaitly,
Share:

Talking Points

  • G20 leaders pledge to revive int’l trade, combat protectionism at China summit
  • Brexit referendum, monetary policy trends feature prominently in G20 comments
  • Japan submits detailed wish-list for post-Brexit UK/EU economic relationship

Leaders of G20 member states discussed issues such as the outcome of the “Brexit” referendum and monetary policy at a meeting in China over the weekend. On the whole, participants agreed that goals included reviving international trade and investment, committing to combating protectionism, and reducing excessive imbalances in the global economy. In addition, members commented the outcome of the UK EU membership referendum is adding uncertainty to the world economy andmaking for growth that is weaker than it should be.

Additional general G20 comments:

  • G20: Reaffirms commitment to avoid competitive devaluations
  • G20: Needs to focus on mid-long term policies, OECD to lead global forum in steel overcapacity
  • G20: Determined to use all monetary, fiscal and structural tools
  • G20: Monetary measures alone can’t lead to balanced growth

Speaking on Brexit, French President François Hollande said that the UK referendum, terrorism, and geopolitical instability are weighing on the economy. He added that free trade requires transparency and reciprocity and that the Canada-EU trade pact is a model for similar accords. German Chancellor Angela Merkel said that “Brexit” came up for discussion at G20. Meanwhile, Japanese Prime Minister Shinzō Abe said that they will take firm measures on FX when necessary, adding that the world economy is facing major risks.

Furthermore, Japan’s government composed a document telling titled “Japan’s Message to the United Kingdom and the European Union”. The report delivered a strong message calling for a post-Brexit EU/UK relationship that maintains previous economic freedoms, allowing for an agreement in principle on the Japan-EU Economic Partnership Agreement (EPA) to be reached this year.

Some of Japan’s general requests to the UK and EU:

  • Ensuring transparency of Brexit negotiations
  • Granting sufficient time periods for transition and publicizing of any changes
  • Safeguarding market integrity between the UK and the EU
  • Maintaining the free trade system

Some of Japan’s specific requests to the UK and EU:

  • Maintaining the current tariff rates and customs clearance procedures, such as the preferential tariff rate (0%) on imports to the UK from emerging countries
  • Introducing provisions for cumulative rules of origin
  • Maintaining the access to workers who are nationals of the UK or the EU (especially protecting the status of those who are already employed or will be employed by Japanese businesses)

Bank of Japan Governor Haruhiko Kuroda also took center stage and commented on monetary policy. The central bank chief said that he has no preconception for specific policy direction. Kuroda added that there may be a situation where drastic steps are warranted and that a reduction in policy accommodation will not be considered. He also said that there is still ample space for further cuts in interest rates and that he does not share the view that there is a limit to monetary easing.

Additional BoJ Kuroda Comments:

  • The review is to consider how to hit the 2% price target, inflation to hover at slightly negative or 0% for now.
  • BoJ has a broad range of policy options, most powerful easing measures needed for Japan.
  • Imperative for bank to maintain commitment to 2% goal, will continue utmost efforts to achieve price target.
  • Benefits of meeting price goal as soon as possible are enormous.
  • Some things can’t be done legally, or shouldn’t be done. These include direct underwriting bonds, monetizing deficit.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES