Free Trial

Stimulus Package Announcement Forthcoming

JPY

USD/JPY ground higher Thursday, with the yen losing ground as the Nikkei 225 posted a leg higher in reaction to reports suggesting that Japan's upcoming stimulus package will be larger than expected.

  • PM Kishida will today unveil the next stimulus package to soften the blow from the Covid-19 pandemic. The Nikkei reported Thursday that fiscal measures will amount to Y55.7tn, considerably more than had been expected. Such scale of fiscal measures would set a new record, allowing PM Kishida to start his term in office with a bang.
  • Japan's CPI inflation remained barely positive in October. Core prices grew 0.1% Y/Y, narrowly missing median estimate of 0.2%.
  • Looking ahead, coming up next week we have flash Jibun Bank PMIs (Wednesday) & Tokyo CPI (Friday).
  • USD/JPY last sits at Y114.32, a handful of pips higher on the day. A clearance of Nov 17 high of Y114.97 would shift focus to Mar 10, 2017 high of Y115.51. Conversely, a dip through Nov 12 & 15 lows of Y113.76 would shift focus to Nov 9 low of Y112.73.

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.