Free Trial
MNI EXCLUSIVE

A Look At Bank Indonesia's View On Rate Hike Timing

JGBS AUCTION

Japanese MOF sells Y4.52899tn 3-Month Bills:

JGBS

Futures Recover Early Blip Lower

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

USD/JPY Extends Losses, G10 FX Space Struggles For Shared Direction

FOREX

The dollar index (BBDXY) faltered as U.S. Tsy yields fluctuated and e-mini futures advanced, with participants taking stock of the past week. The index is on track for its first weekly decline this month as the spectre of recession looms large.

  • Price action across G10 FX space lacked clear risk directionality, with CHF landing at the bottom of the pile even as its safe haven peer JPY fared well.
  • USD/JPY extended its retreat from recent cycle highs and seems poised to register its first weekly loss this month. Continued dip in 1-month risk reversal remained heavy, suggesting that sentiment among option traders was shifting further in favour of calls.
  • Japan's core CPI printed perfectly in line with expectations (+2.1% Y/Y). The yen showed little to no reaction to the release.
  • The kiwi dollar traded on a firmer footing in the absence of local catalysts and liquidity sapped by a public holiday/market closure in New Zealand.
  • German Ifo Survey, UK retail sales & the final reading of U.S. Uni. of Mich. Sentiment take focus from here.
  • The central bank speaker slate features Fed's Daly & Bullard, ECB's Centeno, de Cos & de Guindos as well as BoE's Pill & Haskel.
193 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

The dollar index (BBDXY) faltered as U.S. Tsy yields fluctuated and e-mini futures advanced, with participants taking stock of the past week. The index is on track for its first weekly decline this month as the spectre of recession looms large.

  • Price action across G10 FX space lacked clear risk directionality, with CHF landing at the bottom of the pile even as its safe haven peer JPY fared well.
  • USD/JPY extended its retreat from recent cycle highs and seems poised to register its first weekly loss this month. Continued dip in 1-month risk reversal remained heavy, suggesting that sentiment among option traders was shifting further in favour of calls.
  • Japan's core CPI printed perfectly in line with expectations (+2.1% Y/Y). The yen showed little to no reaction to the release.
  • The kiwi dollar traded on a firmer footing in the absence of local catalysts and liquidity sapped by a public holiday/market closure in New Zealand.
  • German Ifo Survey, UK retail sales & the final reading of U.S. Uni. of Mich. Sentiment take focus from here.
  • The central bank speaker slate features Fed's Daly & Bullard, ECB's Centeno, de Cos & de Guindos as well as BoE's Pill & Haskel.