MNI BRIEF: BOJ's FY26 Inflation View Flat; Upside Risk To FY24, 25 Prices

BOJ SEES BIGGER UPSIDE RISKS TO PRICES IN FY2024, 2025

BOJ SEES FY24 REAL GDP +0.6% VS. APR +0.8%

MNI: PBOC Net Injects CNY185.57 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1346 Weds; -1.39% Y/Y

MNI BRIEF: China July PMI Contracts For Third Straight Month

Japan Jun Retail Sales +3.7% Y/Y

Japan Jun Ind. Output -3.6% M/M; First Fall In 2 Mths

MNI BRIEF: Aussie CPI In Line With Forecasts

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Decision On Emergency Expected This Week, Japan Returns From Holidays

JPY

Wednesday was a bearish inside day for USD/JPY, with the rate trading sideways in a broadly risk-on environment. Liquidity remained subdued on the final day of Japan's Golden Week.

  • Local media outlets continue to circulate reports suggesting that the gov't prepares for extending a Covid state of emergency in Tokyo, Osaka, Kyoto and Hyogo through the month-end. Per a Yomiuri report, the gov't plans to allow Hokkaido & Fukuoka to implement tighter restrictions. PM Suga told NTV Wednesday that the gov't wants to decide on emergency as soon as this week.
  • The BoJ are set to release the minutes from their March MonPol meeting today. After that, focus turns to earnings data & final Jibun Bank Services PMI, due Friday.
  • The rate last sits at Y109.18, just shy of neutral levels, as local financial markets re-open after a lengthy hiatus. Bears look for a dip through Apr 29 low of Y108.44, followed by Apr 23 low of Y107.48. Conversely, bulls look for a jump above May 3 high of Y109.70, towards Apr 9 high of Y109.96.
BulletMarketsForeign Exchange Bullets
BulletMarketsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.