MNI BRIEF: Bank Of Italy Downgrades 2024 Inflation Forecast

CANADA MAR JOBLESS RATE 6.1% VS FORECAST 5.9%, PRIOR 5.8%

MNI: Canada Wages Up 5% Even With Highest Jobless Rate In 2Yrs

MNI BRIEF: Monetary, Fiscal Policy Need Harmony - Campos Neto

CORRECTED-MNI: Changing Brazil Fiscal Target Not "Plan A"

MNI BRIEF: PBOC To Curb Any Overshooting Of The Yuan-MPC

MNI: US FEB CONSUMER CREDIT +$14.1B

MNI: BAKER HUGHES US RIG COUNT 620; OIL RIGS 508; GAS RIGS 110

EZ/UK Bond Supply Calendar: EU-Bond Auction, BoE Short APF Mon

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

JPY Laggard In Early Trade

FOREX

A quiet session so far in terms of headline flow, Fed's Rosengren spoke towards the end of the US session saying the recovery was robust but highlighting the progress needs to be made on the labour market and noting risks around inflation.

  • JPY is the biggest loser – USD/JPY up 7 pips. Data showed May services PPI rise 1,5%, in line with estimates and up from 1.1% last time out. Today's speech from BoJ Gov Kuroda and Friday's release of monthly Tokyo CPI headline the local docket during the remainder of this week.
  • AUD/USD and NZD/USD both flat with little in the way of headline flow to drive price action so far. As a reminder, Wellington is in Covid-19 alert level 2 through the end of this week, after a positive case from Australia visited the city.
  • Offshore yuan is weaker, USD/CNH up around 28 pips after keeping to a narrow range throughout the session on Thursday and ending an eight day losing streak. A piece in the Shanghai Securities News is getting some attention, a China Merchant Bank analyst says the yuan faces increased risks of a steeper correction in the short term as the Fed's recent policy direction sustains a dollar rebound.
Energy BulletsCommodities
Energy BulletsCommodities

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.