MNI China Daily Summary: Friday, July 12

MNI BRIEF: China June M2 SlowsTo Record Low For Third Month

MNI BRIEF: China Steel Export Growth Slows In June

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

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

Retail Sales / Services Turnover Publications Postponed Indefinitely

CHINA H1 NEW LOANS CNY13.27 TRLN VS JAN-MAY CNY11.14 TRLN

Inflation Momentum Ticks Up Despite Lower-than-expected Print

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

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

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

USD/JPY Eyeing 140.00 Break Amid US Yield Pullback, NZD Lagging

FOREX

Modest USD selling continues, with the BBDXY down sub 1244, -0.15% for the session to date. A softer US yield backdrop appears to be weighing from a cross-asset standpoint. The 2yr is back to +1bps firmer, we were +3.3bps higher in early trading. Back end yields remain lower, the 10yr yield now sub 3.76%.

  • This has aided yen, with USD/JPY briefly dipping sub 140.00 (low 139.97), we now sit slightly higher. There is a chunky option expiry tomorrow at 140 ($1.72bn), so that may influencing spot behavior to a degree.
  • BoJ Governor Ueda has appeared before parliament, but hasn't shifted the narrative relative to recent commentary. He noted that exiting from easier policy settings wouldn't mean large JGB losses in terms of the BoJ balance sheet.
  • AUD/USD dipped slightly post the building approvals miss, but has been supported. We were last at 0.6550/55, +0.2% higher and just down form session highs.
  • NZD/USD is lagging somewhat, currently flat at 0.6055.
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.