Archives of “April 15, 2019” day

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Japan stocks – Nikkei 225 off to the races, hits its highest since December 2018

  
Analysis, Global Indices

Benchmark Japan index Nikkei 225 opening the new week with a trip higher.

Posting as a note on its continued strong performance which is been ongoing all of the year so far. Its not alone globally, of course.
Meanwhile, yen has lost a few pints in the week, USD/JPY back (just) above 112 as I post.
Benchmark Japan index Nikkei 225 opening the new week with a trip higher.
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Nikkei 225
  • price-weighted average of 225 top-rated Japanese companies listed in the First Section of the Tokyo Stock Exchange

Weekend – Russia Fin Min Siluanov says Russia & OPEC may decide to boost production

  
Analysis, Crude

Anton Siluanov is Russia’s Finance Minister. He spoke over the weekend, reported on TASS news agency.

  • Said that Russia and OPEC could decide to increase oil production to fight for market share with the United States
  • Doing so would likely send oil prices lower, cited as low as $40 per barre
Siluanov is concerned on losing market share, ‘which is being occupied by the Americans‘.
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Currently OPEC+ (a group that includes Russia and other producers with OPEC) have an agreement to reducing oil output by 1.2 million bpd for six months, from January 2019.
The group will meet on June 25 and 26 to decide whether to extend the agreement.
Anton Siluanov is Russia's Finance Minister. He spoke over the weekend, reported on TASS news agency.

ICYMI – Currency intervention in the US cross hairs

  
Analysis, Forex

This from Friday but an ICYMI on measures discussed in the US – China trade talks.

  • US and China have agreed to greater disclosure of economic actions in an effort, say US
  • officials, to deter China from currency manipulation
  • deal could include penalties for China if it manipulates the yuan to increase exports
Report is from the Wall Street Journal, citing unnamed sources.
US Treasury Secretary Mnuchin in an interview:
  • The fundamental issue on currency across the board is we want to make sure people meet their obligations, that they don’t devalue their currency for competitive purposes
Adds the Journal:
  • The trade deal is still under negotiation and American officials caution that nothing will be final until both sides agree on all points

Weekend IMF Statement – growth risks ’tilted to the downside’, govmts prepared to act

  
Analysis, Economy

The communique from the IMF’s International Monetary and Financial Committee

(the committee is the main advisory group for the IMF’s member countries).
The gist of it:
  • Global economic growth expected to firm from 2020
  • But the risks remain tilted to the downside
IMF cites risks:
  • trade tensions
  • policy uncertainty
  • geopolitical
  • sharp tightening of financial conditions against a backdrop of limited policy space
  • high debt levels
  • heightened financial vulnerabilities
But, don’t lose sleep ’cause the governments are here to help, K:
  • To protect the expansion, we will continue to mitigate risks, enhance resilience, and, if necessary, act promptly to shore up growth for the benefit of all
Yeah, right.
The communique from the IMF's International Monetary and Financial Committee
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