- The EUR/JPY remains stable before publication of the data of the harmonized consumer price index of the eurozone.
- The governor of the Boj, Kazuo Ueda, expressed his willingness to increase rates if the economic and pricing impulse moves as expected.
- The European Commission declared that Trump’s tariff decision undermines the ongoing efforts to reach an agreement and warned about possible “countermeasures.”
The EUR/JPY remains stable after registering profits on the previous day, quoting around 163.30 during the Asian hours on Tuesday. The data of the Harmonized Index of Consumer Price (HICP) of the Eurozone, scheduled to be published later in the day, will be observed closely.
The EUR/JPY crossing maintains its position while the Japanese Yen (JPY) recorded few losses despite the hard line signals of the Bank of Japan (Boj), Kazuo Ueda, suggesting a willingness to increase interest rates if economic and pricing data move in line with the projections.
Governor Ueda stressed the importance of Japan’s economy being experiencing moderate recovery despite some weaknesses. Ueda also pointed out that corporate profits are improving, with a solid business feeling. “We will review the bond purchase reduction plans at the next policy meeting, taking into account the opinions of bond market participants,” Ueda added.
The JPY also faced challenges while the US dollar regains land in a technical correction, despite the growing concerns about stagflation in the United States (USA). The operators adopt caution before the implementation, on Wednesday, of the new “double import tariffs”, which increase from 25% to 50%, over steel and aluminum.
The European Union (EU) expressed a strong regret that Trump’s plan to double US tariffs on steel and aluminum could derail bilateral commercial negotiations. On Saturday, the European Commission (CE) pointed out that Trump’s tariff decision undermines the ongoing efforts to reach a commercial agreement, warning about “countermeasures”, according to the BBC.
Economic indicator
Harmonized consumer price index (monthly)
The harmonized consumer price index (IPCA) measures the changes in the prices of a representative basket of goods and services in the European Monetary Union. The IPCA, published by Eurostat With a monthly periodicity, it is harmonized because the same methodology is used in all member states and its contribution is weighted. The intermensual figure compares the prices of the goods in the month of reference with the previous month. In general, a high reading is considered bullish for the euro (EUR), while a low reading is considered bassist.
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Next publication:
Mar Jun 03, 2025 09:00 (PREL)
Frequency:
Monthly
Dear:
–
Previous:
0.6%
Fountain:
Eurostat
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
