GoldenOctober2024

Jin10 reported on May 1st that on the evening of the 1st local time, the South Korean opposition party pushed for the impeachment of Economic Vice Prime Minister Choi Sang-mok during the national assembly plenary session held that evening, and Choi Sang-mok announced his resignation before the assembly vote.

Jin10 reported on May 1st that on April 30th local time, Trump discussed the impact of the current tariff policy on the United States at a cabinet meeting in the White House. Trump said, "Perhaps children can only buy two dolls instead of 30 dolls, and maybe these two dolls will be a few dollars more expensive than the normal price."

On May 1, Jin10 reported that on May 1 local time, Ukrainian President Zelensky signed a decree approving sanctions against several individuals, including former presidential office advisor Oleksiy Arestovych.

Jin10 reported on May 1 that the U.S. Department of Labor announced on Thursday that for the week ending April 26, the number of initial unemployment claims increased by 18,000 to 241,000, the highest level since early October. The increase in claims was mainly from New York, where applications typically rise during the spring around school holidays.

U.S. Treasury Secretary Yellen believes that a 2-year Treasury yield below the federal funds rate indicates that the Federal Reserve should cut interest rates. The market generally sees this as a signal that the tightening cycle is coming to an end, but there is a risk that market expectations may be wrong. For example, in 2023, the 2-year Treasury yield briefly fell below the federal funds rate, only to quickly rebound.

Mizuho pointed out that the Bank of Japan's pause in monetary tightening has increased the depreciation pressure on the yen, shifting market focus to the low interest rate environment. The risk of yen depreciation has increased, making the dollar's movement crucial. Although the Bank of Japan emphasizes positive factors, the cautious attitude has complicated the dollar's short positions against the yen.

Due to the easing of trade tensions and a decline in safe-haven demand, gold futures experienced a big dump. The strengthening dollar has pressured gold, and the U.S. may reach a trade protocol, leading to a rise in market optimism. However, weak economic data and heightened expectations for interest rate cuts could stimulate demand for gold.

Analysts at ING Group stated that closer ties between the UK and the EU will boost the performance of the pound, and the UK safety protocol is expected to enhance economic prospects, providing the Chancellor of the Exchequer with more room for spending. It is anticipated that if the euro falls below 0.8500 against the pound, it may continue to decline to the level of 0.8430.

Jin10 reported on May 1st that Brent crude oil has fallen below $60 per barrel for the first time since April 9, dropping 1.66% during the day. WTI crude oil also declined 2.00% today, currently priced at $56.90 per barrel.

Jin10 data reported on May 1st, Mitsubishi UFJ analyst Lee Hardman stated in a report that the prospect of a slowdown in the Bank of Japan's interest rate hike pace may help to curb the recent strength of the yen. The Bank of Japan maintained interest rates on Thursday, while being more cautious about the prospects for further rate hikes, and lowered its expectations for economic growth and inflation. This should help to curb the yen's strength. However, if global economic growth continues to slow down and other major central banks further cut rates, the trend of yen appreciation is unlikely to reverse.

On May 1, Jin10 reported that on May 1 local time, the Chief of Staff of the Israel Defense Forces stated that the IDF is prepared to launch a decisive strike against Hamas and will soon intensify military operations in the Gaza Strip.

Jin10 data May 1st news, at 7 AM local time on May 1st, the UK local elections officially began, and voting will end in the evening of the same day. This local election in the UK involves 1,641 seats across 23 local councils and will also elect 6 mayors. The election results are expected to be announced on the 2nd. This local election is the first held after the 2024 UK general election and is seen by local media as a "public opinion test" for the ruling Labour Party.

Jin10 reported on May 1, local time, that the acting president of South Korea and Prime Minister Han Duck-soo delivered a speech to the nation, announcing his resignation.

Despite the optimistic stance of the Bank of Japan on the economy, actual data does not support this claim. The Central Bank has lowered its forecasts for GDP and inflation, indicating that downside risks remain. Although there has been a shift in policy tone, it does not signify the end of the rate hike cycle. If core inflation is not sticky, the Central Bank may have already raised rates again. The timing of rate hikes depends on factors such as yen depreciation, inflation, and wage growth. Rate hikes may occur within this year; otherwise, they could be postponed until next year or even the year after, depending on the situation of the global trade war.

Jin10 reported on May 1 that the US Dollar Index DXY has surpassed the 100 mark for the first time since April 16.

The Bank of Japan maintained its interest rate unchanged and lowered its economic growth forecast due to uncertainties brought by U.S. tariffs. Inflation is expected to gradually reach the 2% target, with risks potentially only delaying the interest rate hike plan. The economic growth forecasts for 2025 and 2026 have been lowered, but inflation expectations remain around 2%. The Central Bank will flexibly guide monetary policy based on economic and price trends.

On May 1, Jin10 reported that the Bank of Japan maintained its target Interest Rate at 0.50% for the second consecutive meeting, in line with market expectations.

Google's advertising network displays ads in chatbot conversations to maintain its edge in the digital advertising space. This initiative is one of the moves made in the wake of the rise of generative artificial intelligence. Google has expanded its traditional AdSense network, extending the reach of ads to chatbot conversations in collaboration with AI startups. This decision was made after testing with several startups.

On April 30 local time, the United Nations Security Council unanimously adopted Resolution 2778, deciding to extend the mandate of the United Nations Mission in South Sudan by 9 days, until May 9, 2025, to allow Security Council members more time to discuss the extension of the mandate.