MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

USD/JPY Unable To Close Above 149.00, Machine Orders Up Shortly

JPY

USD/JPY fell 1.11% on Friday, erasing the gains made after US retail sales and initial jobless claims printed better than market expectations, the pair finished the week up 0.64%.

  • The USD/JPY has edged a touch higher this morning up 0.30% to 148.03, although well within recent ranges 146.50 to 149.50.
  • Shortly we have machine orders, which are expected to rise by 1.1% in June, following a 3.2% drop in May. If orders exceed expectations, it could strengthen the yen & boost business confidence.
  • Goldman Sachs reduced the likelihood of a US recession in the next year to 20% from 25% over the weekend, citing last week's retail sales and jobless claims data.
  • All eyes will be on Jackson hole later this week which starts on Aug 22nd, with J Powell speaking at 10:00am ET on Friday.
  • Looking at technical levels, the bearish condition remains intact. Note that the downtrend remains oversold, and the latest recovery is allowing this set-up to unwind. Resistance to watch is 149.60, the 20-day EMA. Initial support is 145.44 (Aug 8 lows)
  • Apart from machine order up shortly, it is a quiet session. Japan will sell 12m bills at 13:30 AEST
Homepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Homepagemarkets-real-timeBulletMarketsForeign 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.