BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: BTP Short Term and BTPeis on Thursday

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

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

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

JPY Slips as Kuroda Keeps Tiller Steady in Final Meeting

FOREX
  • Asset prices are closely following the spillover from the fallout of Silicon Valley Bank late yesterday, with markets watching carefully for any similar issues at other exposed banking names. European equities were sold from the off, with the EuroStoxx50 Bank Index erasing six weeks of gains having gapped lower at the open.
  • The uncertainty surrounding global financials has led to outperformance in the CHF, while high yielding currencies are hit the hardest. Data releases remain a background driver, with softer CPI hitting the NOK, while firmer-than-expected monthly UK GDP data puts the currency at the top of the G10 pile.
  • Elsewhere, JPY is comfortably the poorest performing currency across G10, sliding after the unchanged BoJ rate decision and defying the minority view that Kuroda could tweak yield curve control at his final meeting.
  • Focus moving forward rests on the February nonfarm payrolls release, at which markets look for job gains of 225k over the month and an unchanged unemployment rate at 3.4%. The Canadian equivalent is also due, where consensus looks for an uptick in the unemployment rate to 5.1%.
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.