BOC WILL BE CONSDIERING FURTHER RATE CUTS

BOC DOESN'T SEE A RECESSION, RATHER SLOW GROWTH

BOC SAYS WEAKER CAD DRIVEN BY USD STRENGTH

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

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

JPY Off Week's Best Levels as BoJ-Inspired Moves Seen Overextended

FOREX
  • Following yesterday's sharp rally, the JPY remains in focus as USD/JPY holds below the Y145.00 handle having printed a new pullback low at 141.71 in late US hours. The market moves increase the focus on the 200-dma, crossing at 142.34, which has acted as a magnet for prices.
  • Recovery from lows has also been aided by a Reuters article citing sources in reporting that the comments from Ueda earlier this week were over-interpreted by markets - helping keep JPY from being the strongest performer in G10 for a second session.
  • Downtrodden commodity-tied currencies have bounced modestly early Friday, with AUD and CAD among the strongest performers this morning as oil prices rebound very slightly off the Thursday pullback low.
  • Focus turns to the November US nonfarm payrolls release, for which markets expect the US to have added 183k jobs over the month, keeping the unemployment rate unchanged at 3.9%. Average hourly earnings are seen slowing to 4.0% from 4.1% previously. UMich sentiment survey follows to round off the week.
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.