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JAPAN: BOJ Governor Ueda Speaks in Cape Town, Tokyo CPI Due Friday

JAPAN
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  • Just to be aware that BOJ Governor Ueda is speaking in Cape Town:
    • "BANK OF JAPAN GOVERNOR UEDA : THERE IS STILL UNCERTAINTY ON US TARIFF POLICY, HOW OTHER COUNTRIES WILL RESPOND, SO NEED TO SCRUTINISE DEVELOPMENTS IN GAUGING IMPACT ON GLOBAL, JAPANESE ECONOMIES"
    • "WILL MAKE DECISION ON MONETARY POLICY AFTER SCRUTINISING IMPACT OF US POLICIES ON GLOBAL ECONOMY, MARKETS, JAPAN'S ECONOMY AND PRICES" (Reuters)
  • USDJPY continues to trade on the front foot Thursday, currently just shy of the 150.00 mark at typing, having bounced firmly from the overnight lows of 148.75.
  • Recall that Tokyo CPI data is due overnight. The reading comes off the back of an acceleration in January national CPI, with February’s print expected to decelerate slightly to 3.2% Y/Y (vs 3.4% prior). Stronger data in Japan has been a key driver of the hawkish BOJ repricing, with Q4 GDP and December wages data surprising to the upside in recent weeks.
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  • Just to be aware that BOJ Governor Ueda is speaking in Cape Town:
    • "BANK OF JAPAN GOVERNOR UEDA : THERE IS STILL UNCERTAINTY ON US TARIFF POLICY, HOW OTHER COUNTRIES WILL RESPOND, SO NEED TO SCRUTINISE DEVELOPMENTS IN GAUGING IMPACT ON GLOBAL, JAPANESE ECONOMIES"
    • "WILL MAKE DECISION ON MONETARY POLICY AFTER SCRUTINISING IMPACT OF US POLICIES ON GLOBAL ECONOMY, MARKETS, JAPAN'S ECONOMY AND PRICES" (Reuters)
  • USDJPY continues to trade on the front foot Thursday, currently just shy of the 150.00 mark at typing, having bounced firmly from the overnight lows of 148.75.
  • Recall that Tokyo CPI data is due overnight. The reading comes off the back of an acceleration in January national CPI, with February’s print expected to decelerate slightly to 3.2% Y/Y (vs 3.4% prior). Stronger data in Japan has been a key driver of the hawkish BOJ repricing, with Q4 GDP and December wages data surprising to the upside in recent weeks.