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Wall Street Poised For Second Day Of Gains While Bank Of Japan Makes Reassurances; Dollar Strengthens Against Yen, Crude Prices Surge: What's Driving Markets Wednesday?

Benzinga LogoBenzinga10h ago

Wall Street Poised For Second Day Of Gains While Bank Of Japan Makes Reassurances; Dollar Strengthens Against Yen, Crude Prices Surge: What's Driving Markets Wednesday? - Benzinga

Quick Summary:

Shinichi Uchida stated the central bank will avoid raising interest rates during times of market volatility, easing fears sparked last week by a rate hike from the Bank of Japan coupled with growing concerns about a potential U.S.recession.The U.S.dollar surged 2% against the Japanese yen, marking its largest one-day increase since June 2022 and reigniting trader interest in the yen-dollar carry trade strategy.

The U.S.stock market is poised for its second consecutive day of gains, aiming to reverse the sell-off that occurred through Monday as investors assess the ongoing earnings season and welcome reassuring comments from the Bank of Japan.Deputy Gov.

Treasury yields rose again by about 5 basis points across the curve, sending bond-related assets down.


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Article Details

Author / Journalist: Piero Cingari

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-07 @ 16:46:55 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 436 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21971866

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Main Topics: Technology

Official Website: benzinga.com

Update Frequency: 25 posts per day

Year Established: 2010

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #53

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