MNI BRIEF: China Grid Investment Up During Jan Feb

MNI China Press Digest March 20:Mortgages, Green Bonds, Income

MNI: PBOC Net Injects CNY232.6 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1754 Thurs; -0.39% Y/Y

MNI BRIEF: China's March LPR Unchanged

MNI: Rough Transcript of Powell's March Press Conference

MNI:AUSTRALIA FEB UNEMPLOYMENT RATE +4.1%

MNI: US TSY TICS NET FLOWS IN JAN -$48.8B

MNI: FED HOLDS RATES AT 4.25%-4.5%, SEES 2 CUTS THIS YEAR

GERMANY: Handelsblatt Report on Lingering Uncertainties Ahead of Bundestag

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

FOREX: USD Index Edges Up, Yen Steady Post BOJ, FOMC Later

FOREX
BulletMarketsFixed Income BulletsForeign Exchange Bullets

The USD BBDXY index sits slightly higher in the first part of Wednesday dealings, last near 1263.1. We are still close to recent multi-month lows at 1261.15. Today's gain is around 0.10% at this stage. 

  • Today's main focus has been the BOJ decision, but as widely expected, the central bank left rates on hold at 0.50%. The statement appeared balanced, in that the door was left firmly ajar for further hikes (virtuous wage and price cycle was described as intensifying), but significant uncertainty around the economic outlook was also highlighted (particularly from a trade standpoint). We have Ueda's press conference in just under 2 hours.
  • USD/JPY was last near 149.55, slightly up on end Tuesday levels, with ranges of 149.20/64 so far. We had earlier data on trade and machine orders. The trade position moved back into surplus, while machine orders were weaker than forecast. Sentiment in the FX space didn't shift though. broadly USD/JPY is wedged between key support and resistance levels.
  • NZD/USD has ticked down, back to 0.5810, off close to 0.20%. Q1 Westpac consumer confidence fell to 89.2 from 97.5, the weakest since Q2 2024 which is before the RBNZ began easing. The Q4 current account deficit was slightly wider than expected at $7.037bn but significantly narrower than Q3’s $10.84bn. Note tomorrow we get Q4 GDP. Upside focus for the currency is at 0.5860, the 200-day EMA. The 100-day at 0.5765 may act as downside support.
  • AUD/USD has also edged down a touch, last near 0.6355/60. The currency remains sub key resistance at 0.6409, the Feb 21 high and bull trigger.
  • In the cross asset space, US equity futures are slightly higher, but away from best levels. US Tsy yields have ticked up, the 10yr back to 4.295%, up a little over 1bps.
  • Later the Fed’s decision is announced and includes updated projections and Chair Powell’s press conference. No change in rates is widely expected. The ECB’s de Guindos and Elderson speak later and February euro area CPI data print.
332 words

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.

The USD BBDXY index sits slightly higher in the first part of Wednesday dealings, last near 1263.1. We are still close to recent multi-month lows at 1261.15. Today's gain is around 0.10% at this stage. 

  • Today's main focus has been the BOJ decision, but as widely expected, the central bank left rates on hold at 0.50%. The statement appeared balanced, in that the door was left firmly ajar for further hikes (virtuous wage and price cycle was described as intensifying), but significant uncertainty around the economic outlook was also highlighted (particularly from a trade standpoint). We have Ueda's press conference in just under 2 hours.
  • USD/JPY was last near 149.55, slightly up on end Tuesday levels, with ranges of 149.20/64 so far. We had earlier data on trade and machine orders. The trade position moved back into surplus, while machine orders were weaker than forecast. Sentiment in the FX space didn't shift though. broadly USD/JPY is wedged between key support and resistance levels.
  • NZD/USD has ticked down, back to 0.5810, off close to 0.20%. Q1 Westpac consumer confidence fell to 89.2 from 97.5, the weakest since Q2 2024 which is before the RBNZ began easing. The Q4 current account deficit was slightly wider than expected at $7.037bn but significantly narrower than Q3’s $10.84bn. Note tomorrow we get Q4 GDP. Upside focus for the currency is at 0.5860, the 200-day EMA. The 100-day at 0.5765 may act as downside support.
  • AUD/USD has also edged down a touch, last near 0.6355/60. The currency remains sub key resistance at 0.6409, the Feb 21 high and bull trigger.
  • In the cross asset space, US equity futures are slightly higher, but away from best levels. US Tsy yields have ticked up, the 10yr back to 4.295%, up a little over 1bps.
  • Later the Fed’s decision is announced and includes updated projections and Chair Powell’s press conference. No change in rates is widely expected. The ECB’s de Guindos and Elderson speak later and February euro area CPI data print.