ForexLive Asia-Pacific FX news wrap: Bank of Japan kept short-term interest rate at 0.5%
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- Tesla sales fell nearly 60% in April in France
- Tesla board begins quiet search for possible Musk successor – more on this
- Tesla has opened a search for a CEO to succeed Elon Musk
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- Defense Secretary Pete Hegseth threatens Iran: “You will pay the CONSEQUENCE”
- Australian March exports +7.6% m/m (prior -4.2%) & Imports -2.2% (prior +1.8%)
- Australian Export Q1 price index +2.1% q/q (prior +3.6%) & import +3.3% q/q (prior +0.2%)
- Reminder – Chinese markets are closed for holidays, will reopen on Tuesday next week
- Japan Jibun Bank PMI Manufacturing April 2025 Final 48.7 (prior 48.4, preliminary 48.5)
- “China Is Right Behind Us”: Nvidia CEO Warns AI chip race is neck and neck
- South Korean exports rose in April vs. fall expected
- BNP Paribas on another likely catalyst for a higher EUR/USD
- April UK business confidence improved to its highest level since September 2023
- Australia S&P Global PMI Manufacturing April 2025, final 51.7 (prior 52.1)
- U.S. Senate narrowly rejects bipartisan measure to block Trump tariffs
- Ford has abandoned its project to develop Tesla-like electronic brain
- United States trade representative admits there are no official talks with China on trade
- US Trade Rep Greer says ‘initial’ trade deals are still weeks away
- US equity index have gapped higher upon Globex reopening for evening trade
- US Treasury announces agreement to establish US-Ukraine reconstruction investment fund
- Trump repeats himself, says Fed should cut interest rates
- US & Ukraine have signed the closely watched minerals deal – Bloomberg cite unnamed source
- Forexlive Americas FX news wrap: US GDP dips into negative territory
- The European Union will present new trade proposals to us negotiators next week
- Trade ideas thread – Thursday, 1 May, insightful charts, technical analysis, ideas
The
Bank of Japan kept its short-term interest rate at 0.5%, a widely
exp4ected on hold decision. The BoJ cited growing headwinds from
higher US tariffs. The Bank cut its 2025 and 2026 economic growth
forecasts in its quarterly outlook report. This was a not unexpected
move. A cautious BoJ today.
USD/JPY has risen towards 143.50 with the net dovish statement
and report.
Dialling
back the clock a little to before that focal point for the session.
In
late US time United
States trade representative Greer
admitted
that
there are no official talks with China on trade, He
said also that ‘initial’ trade deals with some other countries
are still weeks away.
Australia
published March trade data, showing a widening surplus on a surge in
exports, up 7.6% m/m on gold (26% rise in non-monetary gold
shipments) and other commodity shipments. Iron ore exports recovered
from weather disruptions.
Exports
to the US jumped. Australia runs a trade deficit with the US but in
March recorded a surplus ahead of tariffs.
Imports
dropped by 2.2% m/m, capital goods showing a notable drop.
Also
from Australia today were export and import price indexes. Consumer
goods import prices rose, which may impact inflation ahead if such
rises continue.
Of
note for those with an interest in equities, the Wall Street Journal
reported that Tesla’s board has begun discussions with search firms
to explore potential successors to CEO Elon Musk. In the reports the
Journal noted that Some directors, including Tesla co-founder JB
Straubel, have been meeting with major investors to reassure them the
company is in good hands. This will be in reference to the damage
Musk has inflicted on the brand through his political and ideological
activities. Data from France released today gave some insight into
this. While new
car registrations in France fell 5.64% in April from a year earlier
the figure for Tesla was an order of magnitude worse, Tesla sales
fell 59.45%.
US
equity indexes rose in ‘overnight’ Globex trade, adding to their
solid bounce during Wednesday RTH trade.
This article was written by Eamonn Sheridan at www.forexlive.com.
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