MNI China Daily Summary: Tuesday, May 28

MNI BRIEF: Japan's April Trimmed Mean Rises 1.8% Vs. 2.2% - BOJ

MNI BRIEF: China To Curb Key Financial Risks - NFRA

MNI: PBOC Conducts CNY2 Bln Via OMO Tues; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1101 Tues; -2.43% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

EZ/UK Bond Supply Calendar: Spain Syndication; UK, DE Wednesday

MNI: US Q1 FHFA HPI Q/Q SA +1.1% V +6.6% Q1 2023

MNI:US MAR FHFA HPI SA +0.1% V +1.2% FEB; +6.7% Y/Y

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

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

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

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

USD/JPY Edges Lower In Early Asia Trade

DOLLAR-YEN

USD/JPY climbed yesterday, despite broader risk-off mood inspired by the combination of factors outlined in earlier bullets. JPY was offered into the Tokyo fix, possibly owing to Gotobi day flows, and struggle recoup losses against the greenback for the rest of the day. The rate almost wiped out its Wednesday's decline.

  • Per Yomiuri, Japan told the U.S. that it won't join the "Clean Network" initiative, albeit it is already effectively excluding Huawei from its 5G projects. Tokyo said it can't join the programme in its current form, designed to exclude a specific country.
  • The pair last operates -7 pips at Y105.38, with bears looking for a dip through Y105.04, the low of Oct 14, before targeting key support from Oct 2 low of Y104.94. Bulls eye Oct 13 high of Y105.63 for initial resistance and a break here would expose Oct 7 high of Y106.11.
  • Japanese data highlights next week include trade balance (Monday), final machine tool orders (Tuesday), as well as national CPI & flash Jibun Bank PMIs (Friday).
BulletMarketsForeign Exchange Bullets
BulletMarketsForeign Exchange Bullets

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.