MNI China Daily Summary: Friday, January 10

MNI BRIEF: China To Adopt Very Proactive Fiscal Policy-Offical

CANADA LIBERAL LEADERHIP VOTE TO REPLACE TRUDEAU SET FOR MAR 9

MNI BRIEF: PBOC Suspends Bonds Trades As Yields Drop

MNI: PBOC Net Drains CNY14.8 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1891 Fri; -2.36% Y/Y

USDA: CORN STOCKS 12,074M BSL ON JAN 1

MNI: USDA: 2024/2025 CORN PRODUCTION EST 14.87B BSL

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

FOREX: JPY Edges Lower While GBP Looks Through Jobs Numbers

FOREX
  • JPY trades poorly on light volumes mid-European morning, however cross-buying via EUR/JPY and GBP/JPY has so far been capped by yesterday's highs.
  • GBP largely shrugged off a set of softer-than-expected jobs and wages numbers, with the details of the data providing little extra detail to change the trajectory of BoE policy, keeping a 25bps rate cut at the September meeting only an outside chance. Overall volumes are below average for this time of day. That will likely remain the case across the morning with a relatively light data schedule and primary focus on tomorrow's US inflation print - which provides the last look at inflation ahead of the FOMC meeting next week.
  • BoJ officials are reportedly seeing little need to raise rates further next week, according to Bloomberg sources. The piece writes that they're still "monitoring lingering volatility in financial markets and the impact of the July hike." JPY looked through the report as being largely inline with consensus, keeping higher stock markets and global yields
    they key driver.
  • CAD and AUD are the poorest performers so far Tuesday, however pullbacks remain shallow and conviction light ahead of the raft of risk events later this week, including the ECB rate decision, the US CPI print and the first Presidential debate held between candidates Trump and Harris. CB speakers later today include Fed's Barr and Bowman - however neither are expected to address the US economy or monetary policy.
BulletMarketsFixed Income BulletsForeign 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.