On the 14th, the Nikkei Stock Average opened lower for the first time in three days, falling by 514.09 yen from the previous day to 50,767.74 yen. On the 13th in the U.S., Loretta Mester, President of the Cleveland Federal Reserve, stated that monetary policy needs to remain in a tightening stance. Expectations for interest rate cuts diminished, causing the NY Dow to fall for the first time in five days and the Nasdaq Composite Index to decline for the third consecutive day. The Tokyo market also saw selling pressure prevail due to the downturn in U.S. stocks. The yen-denominated settlement value of the CME Nikkei 225 futures was 1,205 yen lower than the Osaka Exchange settlement value on the 13th, at 50,905 yen.
In the Tokyo foreign exchange market at 9:02 AM, the dollar-yen rate was trading in the mid-154 yen range (compared to 154.71-73 yen on the 13th), while the euro-yen rate was trading in the upper 179 yen range (compared to 179.64-68 yen on the 13th).
Provided by: Wealth Advisor Co.
