MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI: SWEDEN Q2 GDP +0% Y/Y

MNI: SWEDEN JUN RETAIL SALES -0.1% Y/Y

Asia Sov Curves Steepen, INDON Outperforms

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

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

USD Struggles Early, JPY Surges On BoJ Headlines

FOREX

The BBDXY is on the back foot in the first part of trading, with JPY leading gains. The index is back to a 1235 handle and threatening to break through recent lows. The 50-day MA is also sub the 200-day MA, forming a so-called death cross. The DXY index is forming a similar pattern (last near the 103.15 region). This of course comes ahead of the US CPI print due later today.

  • JPY has been buoyed by Reuters headlines that the BoJ will review the side effects of its massive monetary stimulus at next week's policy meeting. The better than expected Nov current account figures also helped, although the trade deficit was close to forecasts.
  • USD/JPY touched got to 131.60 just a moment ago (+0.6% for the session in yen terms), with lows from earlier in the week sub 131.50 now in sight.
  • Other currencies are firmer against the USD, with CHF lagging somewhat, following Wednesday weakness. USD/CNH is probing fresh lows sub 6.7600.
  • AUD/USD is back to 0.6920/25, around +0.20% higher for the session. The just released trade data for Nov was a touch better than forecast, the trade surplus at A$13.2bn (A$11.3bn expected). Imports were -1%, exports flat.
  • NZD/USD is lagging slightly, last around 0.6375.
  • Coming up in about an hour or so is China inflation data.
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.