{"id":46337,"date":"2026-05-05T00:00:22","date_gmt":"2026-05-05T00:00:22","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/46337\/"},"modified":"2026-05-05T00:00:22","modified_gmt":"2026-05-05T00:00:22","slug":"bnp%e3%83%91%e3%83%aa%e3%83%90%e3%80%81%e3%83%a6%e3%83%bc%e3%83%ad%e5%9c%8f%e6%88%90%e9%95%b7%e7%8e%87%e3%81%af2026%e5%b9%b4%e3%81%ab%e3%81%8b%e3%81%91%e3%81%a6%e9%88%8d%e5%8c%96%e3%80%81%e3%82%a4","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/jp-asia\/live-updates\/46337\/","title":{"rendered":"BNP\u30d1\u30ea\u30d0\u3001\u30e6\u30fc\u30ed\u570f\u6210\u9577\u7387\u306f2026\u5e74\u306b\u304b\u3051\u3066\u920d\u5316\u3001\u30a4\u30f3\u30d5\u30ec\u306f2027\u5e74\u306b\u304b\u3051\u3066\u4e0a\u6607\u3057ECB\u306e\u5f15\u304d\u7de0\u3081\u3092\u5f8c\u62bc\u3057\u3068\u4e88\u60f3"},"content":{"rendered":"

\u30e6\u30fc\u30ed\u570f\u306e\u5b9f\u8ceaGDP\uff08\u57df\u5185\u7dcf\u751f\u7523\uff09\u6210\u9577\u7387\u306f\u30012025\u5e74\u306e1.5%\u304b\u30892026\u5e74\u306b1.0%\u3078\u920d\u5316\u3057\u3001\u305d\u306e\u5f8c2027\u5e74\u306b1.3%\u3078\u4e0a\u5411\u304f\u898b\u901a\u3057\u3002\u6e1b\u901f\u306e\u80cc\u666f\u306b\u306f\u3001\u4e2d\u6771\u7d1b\u4e89\u306e\u6ce2\u53ca\uff08\u5730\u653f\u5b66\u30ea\u30b9\u30af\u304c\u8cbf\u6613\u3001\u6295\u8cc7\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u306a\u3069\u3092\u901a\u3058\u3066\u666f\u6c17\u306b\u5f71\u97ff\u3059\u308b\u3053\u3068\uff09\u304c\u3042\u308b\u3002<\/p>\n

\u30a4\u30f3\u30d5\u30ec\u7387\u306f2025\u5e74\u306b2.1%\u3068\u898b\u8fbc\u307e\u308c\u30012026\u5e74\u306b3.0%\u30012027\u5e74\u306b3.3%\u3078\u4e0a\u6607\u3059\u308b\u898b\u901a\u3057\u3002\u666f\u6c17\u306f\u30a8\u30cd\u30eb\u30ae\u30fc\u30b7\u30e7\u30c3\u30af\uff08\u539f\u6cb9\u30fb\u30ac\u30b9\u4fa1\u683c\u306e\u6025\u9a30\u306a\u3069\uff09\u306b\u8010\u3048\u308b\u3068\u3055\u308c\u3001\u9632\u885b\uff08\u8ecd\u4e8b\u95a2\u9023\uff09\u652f\u51fa\u3001\u4eba\u5de5\u77e5\u80fd\uff08AI\uff1a\u30b3\u30f3\u30d4\u30e5\u30fc\u30bf\u30fc\u304c\u5b66\u7fd2\u3057\u5224\u65ad\u3059\u308b\u6280\u8853\uff09\u3001\u96fb\u5316\uff08\u96fb\u6c17\u81ea\u52d5\u8eca\u3084\u96fb\u529b\u5229\u7528\u306e\u62e1\u5927\uff09\u3078\u306e\u6295\u8cc7\u304c\u4e0b\u652f\u3048\u3059\u308b\u3068\u307f\u3089\u308c\u308b\u3002<\/p>\n

Key Macro Forecasts<\/h3>\n

\u6b27\u5dde\u4e2d\u592e\u9280\u884c\uff08ECB\uff09\u306f2026\u5e74\u306b2\u56de\u3001\u540425\u30d9\u30fc\u30b7\u30b9\u30dd\u30a4\u30f3\u30c8\uff08bp\uff1d0.01%\u306a\u306e\u306725bp\u306f0.25%\uff09\u306e\u5229\u4e0a\u3052\u3092\u5b9f\u65bd\u3059\u308b\u3068\u306e\u4e88\u60f3\u3002\u521d\u56de\u306f6\u6708\u3068\u3055\u308c\u3001\u9810\u91d1\u30d5\u30a1\u30b7\u30ea\u30c6\u30a3\u91d1\u5229\uff08\u9280\u884c\u304cECB\u306b\u9810\u3051\u308b\u969b\u306b\u9069\u7528\u3055\u308c\u308b\u91d1\u5229\uff09\u306f2.5%\u306b\u306a\u308b\u898b\u8fbc\u307f\u3002<\/p>\n

\u672c\u8a18\u4e8b\u306f\u4eba\u5de5\u77e5\u80fd\u30c4\u30fc\u30eb\u3092\u4f7f\u3063\u3066\u4f5c\u6210\u3055\u308c\u3001\u7de8\u96c6\u8005\u304c\u78ba\u8a8d\u3057\u305f\u3002<\/p>\n

ECB\u304c6\u6708\u306b\u521d\u56de\u5229\u4e0a\u3052\u3092\u884c\u3046\u898b\u901a\u3057\u3092\u8e0f\u307e\u3048\u3001\u77ed\u671f\u91d1\u5229\u306e\u4e0a\u6607\u306b\u5099\u3048\u305f\u30dd\u30b8\u30b7\u30e7\u30f3\u304c\u610f\u8b58\u3055\u308c\u308b\u3002\u50b5\u5238\u4fa1\u683c\u306e\u4e0b\u843d\u3067\u5229\u76ca\u3092\u72d9\u3046\u6226\u7565\u3068\u3057\u3066\u3001\u30c9\u30a4\u30c4\u56fd\u50b5\u5148\u7269\uff08\u30d6\u30f3\u30c8\u5148\u7269\uff09\u306b\u5bfe\u3059\u308b\u30d7\u30c3\u30c8\u30aa\u30d7\u30b7\u30e7\u30f3\uff08\u3042\u3089\u304b\u3058\u3081\u6c7a\u3081\u305f\u4fa1\u683c\u3067\u58f2\u308b\u6a29\u5229\uff09\u306e\u8cfc\u5165\u304c\u9078\u629e\u80a2\u3068\u306a\u308b\u3002\u52a0\u3048\u3066\u3001\u91d1\u5229\u30b9\u30ef\u30c3\u30d7\uff08\u56fa\u5b9a\u91d1\u5229\u3092\u6255\u3063\u3066\u5909\u52d5\u91d1\u5229\u3092\u53d7\u3051\u53d6\u308b\u53d6\u5f15\u3001\u307e\u305f\u306f\u305d\u306e\u9006\uff09\u3067\u56fa\u5b9a\u91d1\u5229\u3092\u652f\u6255\u3046\u5f62\u306f\u3001\u60f3\u5b9a\u3055\u308c\u308b25bp\u306e\u5229\u4e0a\u3052\u3092\u76f4\u63a5\u7e54\u308a\u8fbc\u3080\u624b\u6bb5\u306b\u306a\u308a\u5f97\u308b\u3002<\/p>\n

\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u4eca\u5e743.0%\u3078\u6301\u3061\u76f4\u3059\u4e88\u60f3\u306f\u8981\u6ce8\u610f\u3060\u3002\u76f4\u8fd1\u306e4\u6708\u901f\u5831\u5024\u3067\u3082\u30a4\u30f3\u30d5\u30ec\u7387\u306f2.9%\u3078\u4e0a\u6607\u3057\u3066\u304a\u308a\u3001\u4e0a\u6607\u57fa\u8abf\u304c\u793a\u3055\u308c\u3066\u3044\u308b\u3002\u3053\u3046\u3057\u305f\u72b6\u6cc1\u3067\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u9023\u52d5\u30b9\u30ef\u30c3\u30d7\uff08\u5c06\u6765\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306b\u9023\u52d5\u3057\u3066\u53d7\u3051\u6255\u3044\u304c\u6c7a\u307e\u308b\u53d6\u5f15\uff09\u304c\u3001\u7269\u4fa1\u4e0a\u6607\u30ea\u30b9\u30af\u306b\u5099\u3048\u308b\u30d8\u30c3\u30b8\uff08\u76ee\u6e1b\u308a\u3092\u9632\u3050\u305f\u3081\u306e\u5bfe\u7b56\uff09\u624b\u6bb5\u3068\u3057\u3066\u6709\u52b9\u306b\u306a\u308a\u5f97\u308b\u30022025\u5e74\u5f8c\u534a\u306b\u30a4\u30f3\u30d5\u30ec\u304c\u4e88\u60f3\u3092\u4e0a\u56de\u3063\u305f\u5c40\u9762\u304c\u3042\u308a\u3001\u540c\u69d8\u306e\u52d5\u304d\u304c\u518d\u3073\u51fa\u3066\u304d\u3066\u3044\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002<\/p>\n

Trading Implications And Positioning<\/h3>\n

\u6210\u9577\u7387\u306e\u920d\u5316\u306f\u682a\u5f0f\u306b\u53b3\u3057\u3044\u74b0\u5883\u3068\u306a\u308a\u3084\u3059\u304f\u3001\u5e74\u521d\u6765\u306e\u30e6\u30fc\u30ed\u30fb\u30b9\u30c8\u30c3\u30af\u30b950\u6307\u6570\u306e\u4e0d\u5b89\u5b9a\u306a\u5024\u52d5\u304d\u306b\u3082\u8868\u308c\u3066\u3044\u308b\u30022025\u5e74\u306b\u5927\u304d\u304f\u4e0a\u6607\u3057\u305f\u5f8c\u3060\u3051\u306b\u3001\u5e83\u7bc4\u306a\u682a\u4fa1\u6307\u6570\u306b\u5bfe\u3059\u308b\u30d7\u30c3\u30c8\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u8cfc\u5165\u306f\u3001\u4e0b\u843d\u5c40\u9762\u3078\u306e\u5099\u3048\u3068\u306a\u308b\u3002\u6210\u9577\u920d\u5316\u3068\u30a4\u30f3\u30d5\u30ec\u4e0a\u6607\u306e\u540c\u6642\u9032\u884c\u306f\u4f01\u696d\u5229\u76ca\u306e\u91cd\u8377\u306b\u306a\u308a\u3084\u3059\u3044\u3002<\/p>\n

\u4e00\u65b9\u3001\u4ed6\u306e\u4e2d\u592e\u9280\u884c\u304c\u636e\u3048\u7f6e\u304d\u306e\u53ef\u80fd\u6027\u304c\u3042\u308b\u4e2d\u3067ECB\u304c\u5229\u4e0a\u3052\u306b\u52d5\u304f\u306a\u3089\u3001\u30e6\u30fc\u30ed\u306e\u4e0b\u652f\u3048\u6750\u6599\u3068\u306a\u308b\u3002\u5b9f\u969b\u3001\u653f\u7b56\u306e\u5dee\uff08\u91d1\u878d\u653f\u7b56\u306e\u65b9\u5411\u6027\u306e\u9055\u3044\uff09\u3092\u7e54\u308a\u8fbc\u3080\u5f62\u3067\u3001EUR\/USD\uff08\u30e6\u30fc\u30ed\uff0f\u7c73\u30c9\u30eb\uff09\u306f\u904e\u53bb2\u30ab\u6708\u30671.08\u304b\u30891.10\u8fd1\u8fba\u3078\u4e0a\u6607\u3057\u3066\u304d\u305f\u3002\u3055\u3089\u306a\u308b\u4e0a\u6607\u3092\u72d9\u3046\u306a\u3089\u3001EUR\/USD\u306e\u30b3\u30fc\u30eb\u30aa\u30d7\u30b7\u30e7\u30f3\uff08\u3042\u3089\u304b\u3058\u3081\u6c7a\u3081\u305f\u4fa1\u683c\u3067\u8cb7\u3046\u6a29\u5229\uff09\u306e\u8cfc\u5165\u304c\u691c\u8a0e\u3055\u308c\u308b\u3002<\/p>\n

\u305f\u3060\u3057\u898b\u901a\u3057\u306f\u4e00\u69d8\u306b\u60aa\u3044\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u9632\u885b\u3001AI\u3001\u96fb\u5316\u3078\u306e\u6295\u8cc7\u306f\u5e95\u5805\u3044\u3068\u898b\u8fbc\u307e\u308c\u308b\u305f\u3081\u3001\u76f8\u5bfe\u7684\u306b\u5f37\u3044\u5206\u91ce\u306e\u500b\u5225\u4f01\u696d\u3084ETF\uff08\u4e0a\u5834\u6295\u8cc7\u4fe1\u8a17\uff09\u306b\u9023\u52d5\u3059\u308b\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\uff08\u5148\u7269\u3084\u30aa\u30d7\u30b7\u30e7\u30f3\u306a\u3069\u306e\u6d3e\u751f\u5546\u54c1\uff09\u3092\u8cb7\u3046\u6226\u7565\u3082\u8003\u3048\u3089\u308c\u308b\u3002\u3053\u308c\u306f\u3001\u5168\u4f53\u5e02\u5834\u306e\u58f2\u308a\u30dd\u30b8\u30b7\u30e7\u30f3\u3068\u7d44\u307f\u5408\u308f\u305b\u308b\u30da\u30a2\u30c8\u30ec\u30fc\u30c9\uff08\u8cb7\u3044\u3068\u58f2\u308a\u3092\u540c\u6642\u306b\u6301\u3061\u3001\u76f8\u5bfe\u7684\u306a\u5f37\u5f31\u306b\u8ced\u3051\u308b\u53d6\u5f15\uff09\u3068\u3057\u3066\u69cb\u7bc9\u3067\u304d\u308b\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

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