Japan Repeats Warnings On Yen As Market Watches For Intervention - Doo Prime News
Doo Prime News > Industry Dynamics > Japan Repeats Warnings On Yen As Market Watches For Intervention

TOKYO, Oct 18 (Reuters) – Finance Minister Shunichi Suzuki warned on Tuesday that Japan would take appropriate and decisive action against excessive, speculator-driven currency moves, keeping alive the possibility of more market intervention after the yen hit a new 32-year low.

Suzuki also reiterated that the authorities could intervene without any announcements, but did not comment on whether they had actually done so, when pressed on speculation that Japan may be supporting the yen without publicly acknowledging it.

Full coverage: REUTERS

Wall Street Rally Throws Spotlight On Reports From Tesla, Netflix

Oct 18 (Reuters) – Investors are speculating about whether Monday’s big stock surge is the start of a recovery or another pause in the market’s decline, and the answer may depend in part on upcoming quarterly results from heavyweights including Tesla Inc (TSLA.O), Johnson & Johnson (JNJ.N) and Netflix Inc (NFLX.O).

The world’s most widely tracked stock benchmark jumped 2.65% on Monday, lifted in part by strong quarterly results from Bank of America (BAC.N), even as investors worry that the U.S. Federal Reserve’s war against inflation may hobble the economy.

Full coverage: REUTERS

Oil Prices Rise On Softer U.S. Dollar, Supply Woes

SINGAPORE, Oct 18 (Reuters) – Oil prices climbed on Tuesday, bolstered by a weaker U.S. dollar and supply woes, although gains were capped by the spectre of lower fuel demand from China as it persists with its stringent zero-COVID policy.

Brent crude futures rose 82 cents, or 0.9%, to $92.44 per barrel by 0643 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 86 cents, or 1.0%, to $86.32 per barrel.

The U.S. dollar index – which measures the greenback against six major peers including sterling – sagged to its lowest since Oct. 6. A weaker dollar makes oil cheaper for buyers holding other currencies, making them more likely to make purchases.

Full coverage: REUTERS

World’s Top Finance Firms Continue To Fuel Deforestation, Report Warns

Oct 18 (Reuters) – The world’s largest financial institutions increased their backing of companies in the agriculture, forestry and land use sectors most responsible for deforestation in 2021, a new study showed on Tuesday.

Issued by the Forests & Finance Coalition of NGOs, which looks to improve transparency, policies, systems and regulations in the financial sector, the report found that finance to those companies rose over 60% to $47 billion between 2020 and 2021.

Full coverage: REUTERS

Morning Bid: Good Will Hunting

A look at the day ahead in European and global markets from Ankur Banerjee

Three days into the job, Jeremy Hunt has pretty much gutted British Prime Minister Liz Truss’ entire economic plan that propelled her to lead the government less than six weeks ago. The new finance minister’s policy reversal has lifted investors’ mood, leading to a rally across equities, bonds and some currencies.

With Truss’s spokesman batting down suggestions that Hunt was running the country, it remains to be seen how long the PM is able to survive the political maelstrom, even though she remains defiant. “I’m sticking around because I was elected to deliver for this country.”

Full coverage: REUTERS

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