$ USD Resurrection!
Dollar has won against EURO and JPY (Yen Japan) at Thursday 13th June local time (American time zone), Euro declined to 1.5435 from 1.5554 at New York Stock Exchange. Against Japan Yen, Dollar raised to 107.91 JPY from 106.96 JPY. Increasing on Dollar was caused by positive retail sales data and investors and speculators were waiting the G8 finance ministers meeting results.
Based on the retail sales report, American retail sales increased 1.0 percent on May. Government has already been cut the tax on property and some items, and the impact is clear, pushed demand side (consumers) to consume. Time lag took several months after cutting on interest and taxes.
“The impact of tax cutting has been making our people start to consume more because real money for consumption is raised, Paul Ashworth said on Capital Economics based on AFP.”
Paul also said, “Generally 1.0 percent is good news and has given new resurrection on consumer trusting.”
“Bad situation has been over and gone. Time lag has been working well and now we get the result. We really hope the American economic will heal and recover faster, Michael Wooffolk from New York Mellon Bank said”.
“Although ECB (European Reserve Bank) interest rate is still high and crude oil price is flying, we don’t see those as restriction for American economic recovering. FED stand behind us, Paul also said.”
At the same time, G* finance minister meeting will meet in Osaka, Japan (Seven Industries Countries plus Russia) on Friday and Saturday. Japanese Staffs have said disagree if foreign exchange is included to the agenda, because Governors of Each Reserve Bank are not there, but it is a final decision and we will discuss it.
Ryohei Muramatsu, Group Treasury Asia of Commerzbank Manager said, “$ USD has been more attention from their government, and governments declined their previously statement. Federal will intervene Foreign Market necessary to win the $ USD.
Thursday 12th and Friday 13th, Bank of Japan (BoJ) met to study about Japanese interest rate. BoJ had no reason to intervene interest rate, so 0.5 percent is still settled in uncertain world economic condition.
On weekend closing time, JPY is closed at 1.0416 franc Swiss from 1.0318 franc at Wednesday.
Source
www.kompas.com,
www.Reuters.com,
www.yntimes.com,
www.businessweek.com.
Based on the retail sales report, American retail sales increased 1.0 percent on May. Government has already been cut the tax on property and some items, and the impact is clear, pushed demand side (consumers) to consume. Time lag took several months after cutting on interest and taxes.
“The impact of tax cutting has been making our people start to consume more because real money for consumption is raised, Paul Ashworth said on Capital Economics based on AFP.”
Paul also said, “Generally 1.0 percent is good news and has given new resurrection on consumer trusting.”
“Bad situation has been over and gone. Time lag has been working well and now we get the result. We really hope the American economic will heal and recover faster, Michael Wooffolk from New York Mellon Bank said”.
“Although ECB (European Reserve Bank) interest rate is still high and crude oil price is flying, we don’t see those as restriction for American economic recovering. FED stand behind us, Paul also said.”
At the same time, G* finance minister meeting will meet in Osaka, Japan (Seven Industries Countries plus Russia) on Friday and Saturday. Japanese Staffs have said disagree if foreign exchange is included to the agenda, because Governors of Each Reserve Bank are not there, but it is a final decision and we will discuss it.
Ryohei Muramatsu, Group Treasury Asia of Commerzbank Manager said, “$ USD has been more attention from their government, and governments declined their previously statement. Federal will intervene Foreign Market necessary to win the $ USD.
Thursday 12th and Friday 13th, Bank of Japan (BoJ) met to study about Japanese interest rate. BoJ had no reason to intervene interest rate, so 0.5 percent is still settled in uncertain world economic condition.
On weekend closing time, JPY is closed at 1.0416 franc Swiss from 1.0318 franc at Wednesday.
Source
www.kompas.com,
www.Reuters.com,
www.yntimes.com,
www.businessweek.com.
1 Comments:
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