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  • Business
    Bloomberg

    Tokyo Inflation Slows Sharply on Education Subsidy Impact

    (Bloomberg) -- Price growth in Tokyo decelerated sharply to a pace below 2% in April, in an outcome largely distorted by the start of education subsidies, as the Bank of Japan gathers to decide policy.Most Read from BloombergUS Economy Slows and Inflation Jumps, Damping Soft-Landing HopesMalaysia in Talks With Tycoons on Casino to Revive $100 Billion Forest CityJavier Milei Fuels Wild Rally That Makes Peso No. 1 in WorldBig Tech Surges in Late Hours on Blowout Earnings: Markets WrapBiden’s Gains

  • Business
    Reuters

    Oil prices rise as US official eases market concerns over economic headwinds

    Oil prices rose in early trade on Friday, as players took stock of the U.S. Treasury secretary's comments that the country's economy is likely in a stronger position than indicated by weak first-quarter data, coupled with supply concerns as conflict continues in the Middle East. Brent crude futures gained 34 cents, or 0.38%, to $89.35 a barrel at 1211 GMT, and U.S. West Texas Intermediate crude futures rose by 33 cents, or 0.39%, to $83.90 a barrel. Treasury Secretary Janet Yellen told Reuters on Thursday that U.S. economic growth was likely stronger than suggested by weaker-than-expected quarterly data.

  • Business
    Reuters

    Yen at its weakest in decades as BOJ meets

    The yen was parked by a 34-year low on the dollar and decade lows on other crosses ahead of a Bank of Japan meeting where interest rates are expected to stay low, while the dollar dipped elsewhere on softer-than-expected U.S. growth data. The Australian dollar, which has been boosted by a hotter-than-expected inflation reading this week, briefly topped its 200-day moving average to hit $0.6539, before settling to $0.6522 in Asia trade on Friday. That opened - at the 10 year tenor - a 380 basis point gap over Japanese yields that it can be expected to stay wide with U.S. rate cut expectations evaporating and markets now pricing only 34 basis points of cuts in 2024.

  • Business
    Bloomberg

    Oil Heads for Weekly Advance Ahead of Critical US Inflation Data

    (Bloomberg) -- Oil headed for a weekly gain ahead of US inflation data that may give further clues on the path forward for monetary policy, shaping appetite for risk assets including commodities such as crude.Most Read from BloombergUS Economy Slows and Inflation Jumps, Damping Soft-Landing HopesMalaysia in Talks With Tycoons on Casino to Revive $100 Billion Forest CityJavier Milei Fuels Wild Rally That Makes Peso No. 1 in WorldBig Tech Surges in Late Hours on Blowout Earnings: Markets WrapBiden