Yen jumps on second suspected Japanese authorities intervention

The Federal Reserve

The Federal Reserve has signalled that US borrowing costs are likely to remain higher for longer as it wrestles with persistent inflation. It held interest rates at 5.25% to 5.5%, a 23-year high that has been in place since the summer of 2023. The Federal Open Market Committee said there had been "a lack of further progress" towards its 2% inflation goal in recent years.

USD/JPY

A few hours after the Fed decision, in a quiet period for USD/JPY, the yen rose against the greenback on what traders suspected was another round of intervention by Japanese authorities. The dollar fell as low as 153 yen from about 157.55 yen.

The US job report

Now currency traders await the US job report on Friday. For April, economists expect 243,000 job creations, with the unemployment rate remaining at 3.8%. Average hourly earnings are forecast at 0.3% month-over-month (MoM) and 4% year-on-year (YoY).

Shell

Shell announces a share buyback programme of $3.5 billion over the next three months as earnings beat expectations in the first quarter.

Standard Chartered

Standard Chartered Q1 earnings came in stronger than forecast. The lender benefited from high interest rates in its core. Underlying profit before tax rose 27% to $2.13 billion, beating estimates of $1.55 billion, underpinned by a 5% increase in net interest income to $2.4 billion for the quarter.

Ebay

eBay shares lost 4.2% in after-hours trading as the current quarter revenue forecast missed forecasts. It expects revenue in the range of $2.49 billion to $2.54 billion for the quarter ending in June. Analysts, on average, were expecting $2.56 billion.

Qualcomm

QUALCOMM rose 3% in extended trading. The world's biggest supplier of chips for smartphones posted earnings of $2.44 per share on revenue of $9.39 billion, beating expectations on both lines. It also forecast quarterly sales and adjusted profit above Wall Street expectations.

Apple

Apple reports its fiscal second-quarter earnings after the bell on Thursday evening. Earnings are anticipated at $1.50 per share and revenue at $90.32 billion. Analysts will be focused on Apple's iPhone business in China, which has faced a surge in competition over the past twelve months, as well as its capital return plans and guidance as it prepares to release its next-generation iPhone later this year.