FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Japan Prepares To Expand State Of Emergency

JPY

USD/JPY struggled for a clear direction Tuesday, with both sides of the pair underperforming the bulk of G10 currencies amid broader risk-on flows. A confluence of factors helped S&P 500 register a fresh record high, while reducing demand for safe haven currencies.

  • Japan's Covid-19 task force may formalise the declaration of emergency for another eight prefectures today. Local media outlets reported Tuesday that PM Suga discussed such a move for Hokkaido, Miyagi, Gfu, Aichi, Mie, Shiga, Okayama and Hiroshima with his key ministers. The state of emergency would take effect from Friday through Sep 12.
  • The Nikkei reported that Japan would spend another Y1.4tn on Covid-19 measures and would expand subsidies for EV purchases.
  • Final machine tool orders and a speech from BoJ's Nakamura headline the local docket today.
  • USD/JPY last trades at Y109.68, just above neutral levels. A break above Aug 19 high of Y110.23 would allow bulls to take aim at Y110.46, which capped gains on Aug 13. Bears need a dip through Aug 16 low of Y109.11 before targeting Aug 4 low of Y108.72, the bear trigger.
HomepageBank of Japan (BOJ) Market NewsBulletMarketsForeign 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.