{
}
The euro has reached a three-month high against the yen, with EUR/JPY surging above the 200-day SMA, supported by a rising trendline. In contrast, EUR/GBP faces significant selling pressure, with bearish momentum suggesting potential declines to 2022 lows. Meanwhile, AUD/USD is attempting a rebound after recent losses, with a close above $0.67 indicating a possible short-term low.
The Art Basel and UBS Survey reveals that Generation X is now the leading art buyer, with average spending at $578,000, while millennial spending has dropped by 50% to $395,000. Despite a 4% decline in overall art market sales, median spending remains stable, and optimism among high net worth individuals is growing, with 91% expecting a positive market outlook. Chinese collectors are also spending significantly, with a median of $97,000, contradicting previous reports of a slowdown in their purchases.
The CLO market faces a mixed outlook amid macroeconomic challenges, with interest rate cuts potentially improving the financial stability of highly leveraged companies but also lowering yields for investors. Japanese investors remain active despite recent volatility, while liability management exercises are increasingly common as sponsors restructure debt. The rise of private credit is reshaping competitive dynamics, making it harder for CLO managers to secure quality syndicated loans, necessitating innovation in CLO structures.
The Bank of Japan's monetary meeting on October 30-31, 2024, is anticipated to maintain current rates, with a potential 0.10% hike in December being a possibility. Governor Kazuo Ueda's cautious stance on inflation and growth, alongside uncertainties from the US elections, may influence future rate decisions. Market participants are closely watching economic forecasts and the widening US-Japan bond yield differentials, which have strengthened the USD/JPY, while the Nikkei 225 faces upward trendline support amid limited risk-taking.
Despite soaring stock markets, IPO activity remains sluggish, with many international exchanges experiencing a drought. The disconnect stems from a lack of compelling companies and a shift in investor preference towards stable cash flows over speculative ventures. While some emerging markets show signs of life, overall, the IPO landscape is parched, reflecting deeper systemic issues.
Japan's Finance Minister Katsunobu Kato has heightened the urgency of monitoring currency fluctuations as the yen reaches a near three-month low against the dollar. He expressed concerns over "one-sided, rapid moves" in the forex markets and emphasized vigilance against speculative trading.
Asian stocks declined, with Japanese, South Korean, and Australian shares falling, while Hong Kong stock futures also dropped. The yen steadied after reaching its weakest level against the dollar since July. Futures for the Nasdaq 100 rose, buoyed by strong earnings from Tesla, as traders adjusted expectations for Federal Reserve rate cuts amid rising Treasury yields. The term premium on 10-year Treasury notes reached its highest since November.
Nippon Express Holdings Inc. is actively seeking acquisitions in India to accelerate its growth in the rapidly expanding market. Tadahiro Furue, a senior executive, indicated a willingness to incur debt for this purpose, emphasizing the importance of maintaining a strong balance sheet and achieving a 10% return on invested capital.
Seven & i Holdings Co. plans to split into two entities and expand internationally, aiming for group revenue of ¥30 trillion ($197 billion) by the 2030 fiscal year, nearly doubling from ¥17.7 trillion in 2023. CEO Ryuichi Isaka highlighted the strategy's focus on enhancing convenience-store operations abroad amid interest from Alimentation Couche-Tard Inc.
The upcoming US election poses significant implications for markets, with a Trump victory likely leading to US equity outperformance and potential tariff risks, while a Harris win could favor emerging markets. A Republican sweep may drive yields higher due to increased deficits, despite a healthy economy. Overall, risk assets are expected to perform well in 2024, regardless of the election outcome.
Japanese Yen
Currency
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
euro rises against yen while facing pressure from pound and dollar
Japanese Yen
United States Dollar
Euro
Australian Dollar
British Pound Sterling
GBR
AUS
JPN
Show more
10:13 24.10.2024
art market trends reveal shifting spending patterns among wealthy collectors
Chinese Yuan
British Pound Sterling
United States Dollar
Euro
Japanese Yen
Art Basel
Apple Inc.
Noah Horowitz
Clare McAndrew
09:00 24.10.2024
CLO market outlook amid interest rate shifts and evolving credit dynamics
09:00 24.10.2024
bank of japan meeting to assess potential year-end rate hike decisions
Japanese Yen
United States Dollar
Federal Reserve Bank of Boston N.A.
Bank of Japan
JPN
Kazuo Ueda
Show more
08:24 24.10.2024
ipo market struggles despite soaring stock indices and investor interest
United States Dollar
Saudi Riyal
Chinese Yuan
Japanese Yen
Indian Rupee
Tokyo Metro Co. Ltd.
Singtel Interactive Pte. Ltd.
Springer Nature GmbH
GBR
IND
SGP
POL
USA
HKG
JPN
SAU
AUS
BRA
DEU
CHN
Mario Draghi
Jamie Dimon
Show more
08:06 24.10.2024
Japan raises urgency over yen's rapid decline against the dollar
05:17 24.10.2024
asian stocks decline as yen steadies amid mixed market signals
03:11 24.10.2024
nippon express plans acquisitions in india to accelerate growth
03:00 24.10.2024
seven and i aims for 30 trillion yen revenue by 2030
United States Dollar
Japanese Yen
Seven & i Holdings Co., Ltd.
Alimentation Couche-Tard Inc.
JPN
Ryuichi Isaka
02:50 24.10.2024
us election scenarios and their impact on global markets and assets
Japanese Yen
Swiss Franc
United States Dollar
Euro
Chinese Yuan
UBS AG
DEU
GBR
USA
BRA
CHN
ZAF
JPN
CHE
Joe Biden
Donald Trump
Kamala Harris
Show more
21:52 23.10.2024
Trending
Subcategory
Corporate News
Industry Trends
Stock Market Updates
Retail and Consumer Goods
Startups & Entrepreneurship
CEO Changes
Financial Scams and Security
Banking Regulations
Global Financial Events
Finance Mergers & Acquisitions
Market Analysis and Predictions
Workplace Trends
Central Bank Actions
Hedge Funds & Private Equity
Industry Mergers & Acquisitions
Global Trade Developments
Government Economic Policies
Corporate Social Responsibility
AI Innovations
Supply Chain Management
Countries:
Companies:
Wells Fargo & Company
Bank of America Corporation
The Goldman Sachs Group, Inc.
Tesla, Inc.
Barclays PLC
NatWest Group plc
Apple Inc.
JPMorgan Chase & Co.
Lloyds Banking Group plc
Mastercard Inc
Visa Inc.
Santander UK plc
Morgan Stanley
Mercedes-Benz Group AG
Amazon.com, Inc.
OpenAI ERC USD
Tiktok USD
DoorDash, Inc.
Deliveroo plc
Nissan Motor Co., Ltd.
Currencies:
United States Dollar
British Pound Sterling
Chinese Yuan
Swiss Franc
Euro
Japanese Yen
Indonesian Rupiah
Indian Rupee
United Arab Emirates Dirham
Singapore Dollar
Qatari Riyal
South Korean Won
Jordanian Dinar
Brazilian Real
Offshore Chinese Yuan
People: