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Ranking All 32 NFL Teams Solely On Their Uniforms
The Texans earn the bottom spot simply for a desperate need of a revamp. I'd keep the helmet but find a way to better the uniform and pants while not making it too much like the Patriots.To get more news about cheap nfl jerseys china, you can visit buyviagraonline24hours.com official website.
Not a fan at all of the rebranding of the jerseys. I'm "anti-shadow numbers" for all uniforms, so this is no exception. That being said, there is still potential there, and I think they should consider reverting to their old falcon logo or a new reiteration of it.
Not totally in love with the gray numbers, but the pants and pant stripe are great. The "Lions" lettering the shoulder is very unique too.
I actually don't mind this new design at all. The only nitpick is maybe making the helmet a lighter shade, because under the lights, it is almost too dark.A very classic look to these. The white helmet really pops, especially with the road uniforms. Their blue home jerseys held them back a little on this list.
Love the color and it looks really good on the football field. They should steer away from the black jerseys, because their blues are very underrated.By far...BY FAR the best iteration of the Browns uniforms...ever. I always hated them not evolving their brand as a kid, but I feel like these are new and fresh while still staying true to the classics.
The change from a white helmet to a blue helmet was a big-time upgrade. The road uniforms really make the helmet pop.Some of the best helmets in the league, but they could definitely use a minor update/tweak for this century.
Solid color scheme, and I like the classic look of the uniform. That being said, I think it'd be cool for them to have the "W" Washington Football Team logo on both sides of the helmet instead of numbers.
Very simple uniforms, but they always look good on the field. If they were to change anything, they could maybe modernize the patterns on the shoulders and pants. It's hard to go wrong with red on a football jersey.One of the few uniforms in the NFL that I don't mind that the home jersey and home pants match. The all black looks good and really puts a focus on the helmet and the fleur-de-lis logo.
I like their uniforms. They're very purple-y. This is a team with a great identity, from the numbers to the logo. Even the font of the player names are distinct.Ever since the Seahawks switched to these uniforms, they have found ways to win. The patterns on the number and around the shoulders are very original.
I'm a Patriots fan, but I can't allow them to go past this spot until they change their pant color. Their pants should be white or silver, because the all blue from neck to legs looks awful. The new jersey alone has potential, but the overall combination isn't working.
Some of the best road uniforms in the league. The red really pops on the white, and it is a bold color choice since their helmet is blue; most teams would've made the numbers blue. Their road uniforms alone lifted them to the top half of the list.
This may be the best red helmet in football. The white face mask really pops with the red helmet. The white pants with the home jersey work because of the bright white face mask.
Every 2021-2022 NBA City Edition Uniform Explained
All thirty NBA teams released their brand new 2021-22 Nike City Edition uniform at the exact same time on the morning of November 1, 2021. Not nice for your local uniform reporter but lots of fun for uniform fans!
Each uniform is a mashup of several uniforms throughout a team’s franchise history, this is being done in recognition of the NBA’s 75th anniversary celebrations being held throughout the 2021-2022 season. I’ll be explaining as many of the inspirations behind each of these designs as I can, if I miss something or make a mistake please let me know in the comments.To get more news about kobe nba jerseys cheap, you can visit formaxproductions.com official website.
The Atlanta Hawks are going with a yellow base as they did on their alternate uniforms from 2004-05 through 2006-07. Across the chest is the wordmark style used during the Pistol Pete days of the early ’70s, recoloured to black and red. The number style is the same as what the team wore during their move from St. Louis to Atlanta in 1968 and positioned as it was in the late ’90s. The big draw here is the large hawk logo across the chest, similar to what the club wore from 1995 to 1999, now without that black-to-red gradient below it.
The front numbers and the stripe configuration on the shorts pay tribute to the first uniforms debuted in 1968, while the back numbers hearken to the highlight era of the ’80s. The wingspan logo of the ‘90s makes a bold return across the front, while the beloved Primary Icon logo goes front and center on the belt. And the jersey anthem calls out the city’s iconic “404” with the razor-talon Hawk.
When you’re one of the original franchises still remaining from the NBA’s first season, you go all the way back for your 75th. Boston is wearing green with “CELTICS” arched across the front in green with a drop shadow similar to what the club wore during the 1949-50 season. The sides of the shorts feature a triangle design with a shamrock as they did from 1946-49, inside the shamrock is “RED” a tribute to legendary Celtics coach Red Auerbach. The opposite side of the shorts features the Celtics’ 75th anniversary logo.
The Brooklyn Nets are leaning heavily into their years as the New Jersey (and New York) Nets for their 2021-22 City Edition uniform, the layout of the uniform harkens back to the style they used with numerous variations for nearly twenty years between 1972 and 1990. Across the chest is the wordmark used on their next jersey style which lasted from 1990 to 1997. The team’s primary logo from 1997 until 2012, their last in New Jersey, is on the waistband of the shorts while the side of the shorts uses a modifed version of their team logo from 1979-90. A team logo history (thumbs up!) is placed in the lower left corner of the jersey.
The Hornets are teal with a honeycomb gradient, down the front of the jerseys are a series of blue, green, and purple pinstripes as the original version of the Hornets wore on multiple uniform designs from 1988 until 1997. The “Charlotte” script across the front was never worn on a uniform but, Nike says, it recalls the clubs late ’80s playoff run. Someone will need to explain how to me if they know. Number font is the same as the team wears now and has since they returned to the Hornets name in 2014. A little nod to the Charlotte Bobcats (remember them?!) by way of the left-justified number position, as the Bobcats wore from 2004 to 2009.
The Chicago Bulls are of course incorporating their run of six NBA titles over eight seasons into their design by way of the jock tag in the lower right of the jersey. The script across the front is a throwback to what the team wore from 1973 to the early Jordan years in 1985 (Nike’s release makes an error here, you’ll see). The number includes a drop shadow as they did during the Bulls’ first seasons from 1966 to 71. On the shorts is the stars from the Chicago city flag, a frequent source of inspiration on Bulls City uniforms in recent years, the side of the shorts incorporate the black with red pinstripe design used on the Bulls’ alternate uniforms from 1995 to 1997.
Ranking the 10 best NBA City Edition uniforms
In honor of the league's 75th anniversary season, each team's City Edition uniforms represent "the ultimate basketball moments mixtape – a compilation of the franchise’s greatest hits through the years."To get more news about kobe jerseys for sale, you can visit formaxproductions.com official website.
Some are boring (looking at you, Thunder) and others are ugly (hello, Heat). But there are also several sweet-looking sets.Everything's coming up Knicks. Not only are they playing great basketball, but they’re also rolling out great uniforms. Their shorts rival the Memphis Grizzlies (who we'll get to shortly) for the best in the entire City Edition collection.
The only bad thing to say about these is that they aren’t the Prince-inspired uniforms from a few years ago. Love the trees on the jersey and shorts.
Have the Grizzlies ever sported bad uniforms? From the logo on the shorts to the subtle bear claw marks on the "Memphis" lettering and the "MEM" pattern, these are a slam dunk.
The Suns knocked it out of the park with their City Edition unis last season. Running it back wasn't a bad choice.
Something like this should be the Rockets’ permanent uniform set. Or at least just bring back the pinstripes.
What do you get when you combine OVO’s black and gold colors with one of the NBA’s best vintage logos? Awesome City Edition uniforms.
The uniforms and court are going to make it feel like the Nets are back in East Rutherford, N.J. All that will be missing is Sly Fox. In all seriousness, the Nets did a fantastic job blending together their Long Island and New Jersey roots, while also adding a touch of Brooklyn.
Non-Sixers fans might have been confused by the different-colored blocks on the side of the jersey. But the nod to the Spectrum was a great idea and executed to perfection.
You don’t typically see the combination of a team’s city/name and logo on the front of a jersey. But, like the Raptors, the Hawks were able to pull it off with a great throwback logo.
It’s only right that the NBA’s most fun team to watch has the best City Edition unis. Yes, there’s a ton going here, but the colors and hive pattern are so good. Can’t wait for the first LaMelo Ball-to-Miles Bridges alley-oop in these.
Treatment of Prostatitis
Prostatitis is inflammation of the prostate gland. In clinical practice, the term prostatitis encompasses multiple diverse disorders that cause symptoms related to the prostate gland. One author has described prostatitis as “a wastebasket of clinical ignorance”1 because so many poorly characterized syndromes are diagnosed as prostatitis. The spectrum of prostatitis ranges from straightforward acute bacterial prostatitis to complex conditions that may not even involve prostatic inflammation. These conditions can often be frustrating for the patient and the clinician.To get more news about Chronic prostatitis treatment, you can visit our official website.
Prostatitis is a common condition. In a survey of National Guard members (20 to 49 years of age) using a self-reported diagnosis of prostatitis, a 5 percent lifetime prevalence was noted.2 A population-based study of men (40 to 79 years of age) in Olmstead County, Minn., suggests a lifetime prevalence close to 9 percent. The latter study used a medical record review to confirm physician diagnosis of prostatitis. Patients with a previous episode of prostatitis were at significantly increased risk for subsequent episodes.3 In a nationwide review of data from outpatient physician visits, it was noted that 15 percent of men who saw a physician for genitourinary complaints were diagnosed with prostatitis.4 Every year, approximately 2 million physician visits include the diagnosis of prostatitis. Despite its widespread prevalence, prostatitis remains a poorly studied and little understood condition.
Prostatitis is not easily diagnosed or classified. Patients with prostatitis often present with varied, nonspecific symptoms, and the physical examination is frequently not helpful. The traditional diagnostic test for differentiating types of prostatitis is the Stamey-Meares four-glass localization method.5 It includes bacterial cultures of the initial voided urine (VB1), midstream urine (VB2), expressed prostatic secretions (EPS), and a postprostatic massage urine specimen (VB3). The VB1 is tested for urethral infection or inflammation, and the VB2 is tested for urinary bladder infection. The prostatic secretions are cultured and examined for white blood cells (more than 10 to 20 per high-power field is considered abnormal). The postmassage urine specimen is believed to flush out bacteria from the prostate that remain in the urethra.
Although widely described as the gold standard for evaluation for prostatitis, this diagnostic technique has never been appropriately tested to assess its usefulness in the diagnosis or treatment of prostatic disease. The expression of prostatic secretions can be difficult and uncomfortable. In addition, the test is somewhat cumbersome and expensive, which may explain its infrequent use by primary care physicians and urologists.3,6
An alternative diagnostic test, called the pre- and postmassage test (PPMT) has been proposed. Although easier to carry out, this test has also not been validated; in retrospective studies, it performed about as well as the four-glass method. 7
The technique is straightforward. The patient retracts the foreskin, cleanses the penis and then obtains a midstream urine sample. The examiner performs a digital rectal examination and vigorously massages the prostate from the periphery toward the midline. The patient collects a second urine sample, and both specimens are sent for microscopy and culture. See Table 1 for interpretation of results of the four-glass test and the PPMT.
Traditionally, prostatitis has been divided into four subtypes based on the chronicity of symptoms, the presence of white blood cells in the prostatic fluid and culture results. These subtypes are acute bacterial prostatitis, chronic bacterial prostatitis, chronic nonbacterial prostatitis and prostadynia.5 Although this classification system has been widely used, it has never been validated for diagnostic or therapeutic utility.
At a recent National Institutes of Health (NIH) conference, a new classification system was proposed that could account for patients who do not clearly fit into the old system.3,8 The subgroups of acute and chronic bacterial prostatitis remain essentially unchanged. Chronic nonbacterial prostatitis and prostadynia have been merged into a new category called chronic nonbacterial prostatitis/chronic pelvic pain syndrome (CNP/CPPS). This category can be subdivided further based on the presence or absence of white blood cells in prostatic secretions. A fourth and final category of asymptomatic prostatitis was added to the classification system. A large-scale study is in progress in an attempt to validate the new classification system. Table 2 compares the two classification systems.
Acute bacterial prostatitis (ABP) may be considered a subtype of urinary tract infection. Two main etiologies have been proposed. The first is reflux of infected urine into the glandular prostatic tissue via the ejaculatory and prostatic ducts. The second is ascending urethral infection from the meatus, particularly during sexual intercourse.1 The causative organisms are primarily gram-negative, coliform bacteria. The most commonly found organism is Escherichia coli. Other species frequently found include Klebsiella, Proteus, Enterococci and Pseudomonas. On occasion, cultures grow Staphylococcus aureus, Streptococcus faecalis, Chlamydia or anaerobes such as Bacteriodes species.9–13
Because acute infection of the prostate is often associated with infection in other parts of the urinary tract, patients may have findings consistent with cystitis or pyelonephritis. Patients with ABP may present with fever, chills, low back pain, perineal or ejaculatory pain, dysuria, urinary frequency, urgency, myalgias and varying degrees of obstruction.9,13
Typically, the prostate gland is tender and may be warm, swollen, firm and irregular. A standard recommendation is to avoid vigorous digital examination of the prostate, because, theoretically, that may induce or worsen bacteremia.
Although no test is diagnostic for acute bacterial prostatitis, the infecting organism can often be identified by culturing the urine.13 Initially, antibiotic selection is empiric, but the regimen can be modified once pathogen susceptibilities are available. Patients respond well to most antibiotics, although many cross the blood-prostate barrier poorly. The inflammation caused by ABP may actually allow better penetration of antibiotics into the organ.
What is nonbacterial prostatitis?
Nonbacterial prostatitis is swelling and irritation (inflammation) of the prostate that is not caused by bacteria. It is the most common type of chronic (long-term) prostatitis.To get more news about chronic nonbacterial prostatitis symptoms, you can visit our official website.
The prostate gland is part of a man’s reproductive system. It is about the size of a walnut and located between the bladder and the penis. The prostate gland surrounds the upper part of the urethra, the tube that carries urine from the bladder out through the penis. It makes fluid that nourishes sperm and helps carry it out of the body during sex.
Your healthcare provider will ask about your symptoms and examine you. You may have tests such as:
A rectal exam, which your provider does by gently putting a lubricated and gloved finger in your rectum to feel the prostate gland
Urine tests
Tests of fluid from your prostate
You may have tests to check for other possible causes of your symptoms, such as a sexually transmitted disease (STD).
Sometimes nonbacterial prostatitis responds promptly to treatment, but it is often hard to cure. Symptoms may last for weeks or months or may come and go for years. Your healthcare provider may prescribe medicine to:
Here are some things you can do to help relieve pain and other symptoms:
Follow the full course of treatment prescribed by your healthcare provider.
Take nonprescription pain medicine, such as ibuprofen or naproxen. Read the label and take as directed. Nonsteroidal anti-inflammatory medicines (NSAIDs), such as ibuprofen and naproxen, may cause stomach bleeding and other problems. These risks increase with age. Unless recommended by your healthcare provider, you should not take this medicine for more than 10 days.
Take a warm bath.
Take a stool softener if constipation is a problem.
Ask your provider:
How and when you will hear your test results
How long it will take to recover
What activities you should avoid and when you can return to your normal activities
How to take care of yourself at home
What symptoms or problems you should watch for and what to do if you have them
Make sure you know when you should come back for a checkup.
How can I help prevent prostatitis?
Avoid sexually transmitted diseases and infections (STDs and STIs). Use latex or polyurethane condoms every time you have sex. Have just 1 sexual partner who does not have sex with anyone else.
Keep your genital area clean. If you are a man who has not been circumcised, good hygiene includes gently pulling back the foreskin to wash the tip of the penis every time you bathe or shower. This helps to prevent urinary tract infections, which can lead to prostatitis. When done cleaning, gently put the foreskin back in place.
Get prompt treatment for any urinary tract problems. This lowers your risk for prostate problems.
ADP Non-Farm Employment and Quarterly Final GDP data released on Wednesday were rather negative for the US economy, adding more pressure to the dollar. US treasury yields also declined on Wednesday, with the 10-year treasury yields falling to approximately 2.3%, from a two-year high of 2.5% the day before.
In the past week, the dollar had gained strength, boosted by hawkish Fed rhetoric. In a recent speech, Fed Chair Jerome Powell hinted that the Fed may perform a steeper rate hike in the future, going above the expected 25 base points. Other Fed members have similarly shown signs of encouraging a more hawkish fiscal policy, increasing the odds of a 50 bp rate hike at the Central Bank’s next meeting in May. Markets are anticipating total rate hikes of 175 base points within the year to tackle soaring inflation rates.
The dollar had dropped in the wake of the Federal Reserve's latest policy meeting in March, in which the Federal Reserve raised its benchmark interest rate by 25 base points, bringing its interest rate to 0.50%. The US Central bank is attempting to bring down inflation that has been rising at the fastest rate in 40 years. The 25-base point rate hike though was considered conservative and had already been priced in by markets. Recent statements by FOMC members though show a shift towards a more aggressively hawkish policy.
Monthly Core PCE Price Index, Unemployment Claims, Annual Challenger Job Cuts, and Chicago PMI are scheduled to be released on Thursday for the dollar and may cause some volatility in the currency. In addition, FOMC Member Williams is due to deliver a speech, which may affect the currency, as Fed rhetoric in the past few days was one of the main factors that have been driving the dollar up.
The EUR/USD rate climbed above 1.116 on Wednesday, breaking through the 1.113 level resistance, as peace talks sparked hopes of a resolution of the crisis in Ukraine. The safe-haven dollar retreated, while the Euro regained some of its lost ground. If the currency pair goes up, it may encounter resistance at 1.148, while if it declines, support may be found at the 1.080 level.
On Wednesday, consumer sentiment and inflation data released for the Eurozone were mostly negative for the EU economy, putting pressure on the Euro. Reports of de-escalation of the crisis in Ukraine reduced the appeal of safe-haven currencies and boosted riskier assets.
In addition, ECB President Lagarde delivered a speech at an event hosted by the Bank of Cyprus on Wednesday. Lagarde stated in her speech that the growth of the Eurozone economy has been stalled by the war in Ukraine and that inflation will likely rise even further. Lagarde has also stressed that the ECB needs to remain flexible and may alter its monetary policy in response to unforeseen inflationary and economic pressures arising from the war in Ukraine, but stated that the ECB will move gradually towards normalizing its fiscal policy. The ECB is trying to avert a dangerous economic effect known as stagflation, the mix of economic stagnation and high inflation rates.
The ECB has been pursuing a more cautious fiscal policy than other major Central Banks, although it has recently turned towards a more hawkish direction. The ECB has announced its decision to wind down its bond-purchasing program sooner than expected, placing the end of the bond-buying program in the third quarter of 2022, if financial conditions in the Eurozone allow it.
In addition, the European Central Bank has announced that it does not plan to raise its benchmark interest rate before the end of its bond-buying program in the third quarter of 2022. Many market analysts predict that the ECB will raise its interest rate by at least 30 base points in Q4 of 2022 and some predict a steeper rate hike of 50 bps, although so far, the ECB has been reluctant to move towards a rate hike. As the Fed and the BOE have already raised their benchmark interest rates, the Euro remains at a disadvantage from the difference in interest rates.
On Thursday, several indicators are scheduled to be released for the Euro, including French Consumer Spending, French Preliminary CPI, German Unemployment Change, Italian Monthly Unemployment Rate, Italian Prelim CPI, EU Unemployment Rate. These are employment and inflation indicators for some of the Eurozone’s leading economies and the Eurozone as a whole and may affect the currency.
Following the freezing of its operations and client withdrawals amid the arrest of several members of its senior management, offshore Retail FX broker Samtrade FX has issued a statement (see full text below) noting that it has filed for its corporate and operating entities to be placed in "judicial management" - the Singapore equivalent of administration.To get more news about intrgroup, you can visit wikifx.com official website.
The "interim judicial managers" for Samtrade FX will be former PwC partner Goh Thien Phong and his GTP Advisory PAC, which specializes in corporate restructuring and insolvency, and Chan Kheng Tek from PwC Singapore.
From our perspective, the application means that Samtrade FX's management (at least the ones who aren't currently incarcerated) believe that the company's problems with the Singapore regulator and police are not likely to be resolved in the near term, requiring outside managers for the company.
It also means that client assets at Samtrade FX are not likely to be unfrozen any time soon. The judicial managers are there to find and secure client assets, match them against what is supposed to be there based on company records and client claims, and then (eventually) return money to Samtrade FX's clients.
No mention was made of Samtrade FX's ASIC licensed operations in Australia, Samtrade (Australia) Pty Ltd, which as far as we can tell remain intact.Samtrade FX was raided in late December, following a joint investigation by the Monetary Authority of Singapore (MAS) and the Singapore Police Force. Three of the company's management team were arrested, including (we believe) the company's CEO and controlling shareholder, Sam Goh.
The action was taken as Samtrade FX was operating out of Singapore without holding a financial services license in the country. The authorities also noted that there is reason to suspect that irregular trading activities have been carried out on the platform.
FILING OF COURT APPLICATION FOR JUDICIAL MANAGEMENT AND APPOINTMENT OF INTERIM JUDICIAL MANAGERS
1. Reference is made to our corporate statement dated 3 January 2022.
2. Our counsel, Messrs Rajah & Tann Singapore LLP, have proceeded to file court applications with the High Court of Singapore on behalf of the following entities to place them into judicial management on 20 January 2022:and to appoint Mr Goh Thien Phong from GTP Advisory PAC and Mr Chan Kheng Tek from PricewaterhouseCoopers Advisory Services Pte Ltd jointly and severally as interim judicial managers.
3. We will provide further updates after the Court has fixed a hearing date for the respective applications.
4. Further updates on material developments will also be provided, as and when appropriate.
Although earlier versions of MetaTrader date back to 2002, the ever so popular MetaTrader4, or as it is often called MT4 was released in 2005 and has been updated numerous times since then. The first MetaTrader5 or MT5 was launched in 2010 and has been operating in parallel with MT4. However, trader loyalty towards MT4 remains solid and the large majority of brokers around the world offer it to their customers.
A 2020 survey identifies MT4 as the most popular trading platform in the world, with a staggering 57% of survey respondents stating that it was their platform of choice. Unsurprisingly the second most popular trading platform is MT5.So, what makes the two MetaTrader iterations so popular? And what are the differences between the two?
The short answer is that the MetaTrader platforms are easy and simple to use. We have all tried to use tools that feel more overwhelming than helpful or useful which leads to frustration and seeking other options. The MetaTrader platforms provide an unparalleled user experience along with a sleek and professional interface that enables traders to conduct their activities effectively. Furthermore, the platforms are known for their unfaltering reliability which is an essential feature in a sector that revolves around financially valuable transactions.
A crucial feature that made MT4 very popular is the availability of the Expert Advisors (EAs) programs that enable traders to customize monitoring and trading parameters according to their trading goals. This is coupled with the fact that MT4 has three execution modes (Instant Execution, Execution on Request, and Execution by Market) which give traders the ability to act swiftly or in a staggered manner to accomplish their objectives.
We must not forget that MT4 is available free of charge, in multiple languages, and fully functional on multiple devices with different operating systems.
At this point, you might be asking what distinguishes MT4 from MT5 and which option would be the best for your trading needs. Both platforms provide state-of-the-art trading experiences, however, there are a few differences. For instance, a number of markets that are available on MT5 are not available on MT4. This could be a benefit to more experienced traders seeking to trade across very specific markets. MT5 also provides more chart timeframes and indicators which are very useful for those traders seeking more in-depth market analysis. The MT5 also offers a built-in economic calendar to help traders stay on track with key events. It must also be said that MT4 uses a simpler programming language (MQL4) that traders can use to create custom EAs and indicators which might make it more accessible to more inexperienced traders. On the other hand, MT5 gives a higher level of flexibility for traders seeking to create more sophisticated commands.
So ultimately, your choice between the two will depend on the trading objectives that you are setting out for yourself and at which point of your trading trajectory you are on.
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It's the beginning of a new month which means that the Non-Farm Payroll figures will be released this week by the US Bureau of Labor Statistics. The latest US jobs data for January will be released at 1:30pm London time on Friday.To get more news about tiomarket review, you can visit wikifx.com official website.
Why is the announcement important?
Non-Farm Payroll is one of the most closely watched indicators. It is considered the most wide-ranging measure of job creation in the United States. An increase in the non-farm payrolls would suggest rising employment and potential inflation pressure - which would mean a possible rate increase by the Federal Reserve. A decline would indicate a slowing economy - which would mean a possible interest rate cut. The measure accounts for around 80% of the workers who contribute to the Gross Domestic Product. It does not include those who work on farms and also excludes private households, non-profit workers, and government employees.
Expectations
In February, the total Non-Farm payroll employment increased by 678k, above analyst forecast of 400k. The unemployment rate decreased by 0.2% to 3.8%. Most significant job gains were in leisure and hospitality, professional and business services, health care, and construction.
Analysts are expecting 490k jobs added in March. The unemployment rate is expected to decrease by 0.1% to 3.7%.
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The USD/JPY retreated on Wednesday from Monday’s highs of 125.1, its highest level since 2015, falling to the 121.3 level. If the USD/JPY rises again, resistance may be found at the 2015 high of 125.8. If the USD/JPY declines, support might be found at 114.8 and further down at 113.4.
The dollar lost ground in the past couple of days, as reports of a potential de-escalation of the Russia – Ukraine crisis have put pressure on the safe-haven dollar. The yen is also considered a safe-haven currency but has not been affected as much as other safe-haven assets by the crisis in Ukraine, and many investors have been doubting its safe-haven status.
In the past few months, the Yen has been affected primarily by the BOJ’s fiscal policy. In its latest monetary policy meeting in March, the Bank of Japan maintained its ultra-accommodating monetary policy and did not raise its negative interest rate from -0.10%. The difference in interest rates with other major Central Banks, especially with the Fed and the BOE, puts the Yen at a disadvantage driving its price down.
The BOJ Summary of Opinions was published on Tuesday, which includes the Central Bank’s projection for inflation and economic growth and is the primary tool the BOJ uses to communicate its economic and monetary projections to investors. In the report, Japanese policymakers stated that inflationary pressures are building in Japan, with inflation growing to 1%, which is still far from the BOJ’s 2% target. Bank of Japan board members seemed skeptical about the rise in inflation though, expressing doubts on whether the rise was sustainable. They stated that the rise in inflation rates would likely prove to be temporary, and was mainly due to the rising cost of imports, especially energy-related imports. Policymakers concluded that the BOJ must continue its ultra-accommodating fiscal policy, to support the economy.
Japan’s core CPI may climb around 2% in April, similar to other countries that are expected to see a peak in inflation rates near the same time, largely due to increased oil prices. Japan is a net energy importer and the current energy crisis is damaging the country’s terms of trade and overall economic health. The rising cost of oil is causing goods prices to rise in Japan, with oil imports accounting for 80% of the country’s oil consumption.
The BOJ stated on Monday that it would buy an unlimited amount of Japanese Government Bonds with a maturity of up to ten years at 0.25% to stop rising global yields from pulling yields higher. Near the end of last week, Japan’s treasury yields rose sharply, with yields on 10-year Japanese government bonds climbing to a six-year high of 0.24%. Japanese bond yields had been on the decline for some time, and rising U.S. yields had taken the spread between the two markets to its widest since August 2019.