MNI BRIEF: Fed's Williams Says There's No Urgency To Cut Rates

MNI: US March Existing Home Sales Fell 4.3% To 4.19M

WILLIAMS: NOT BASE CASE TO RAISE RATES FURTHER

MNI BRIEF: Beijing Opposes U.S. Measures Against Chinese Steel

MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

US EIA:NAT GAS STORAGE +50 BCF TO 2,333 BCF APR 12 WK

MNI: US NAR: MAR EXISTING HOME SALES 4.19M SAAR

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Yen Loses Ground, USD/JPY Flirts With Weekly Gain

FOREX

The yen gave back its initial gains and retreated, extending gains after the Tokyo fix, amid a positive showing from the equity space. Both regional benchmarks and U.S. e-minis crept higher despite a mixed Thursday session on Wall Street.

  • The rebound in USD/JPY may have been facilitated by a degree of widening in U.S./Japan yield spread. Risk reversal held steady after soaring to multi-week highs on Thursday. A large ($1.5bn) option expiry at Y134.00 for today's NY cut may render this level magnetic.
  • Sterling traded on a slightly softer footing, likely due to regional reaction to the BoE's commentary that came alongside yesterday's rate decision. Gov Bailey outlined a downbeat assessment of the economy and said GBP decline is "not a crisis."
  • The greenback outperformed at the margin, with the BBDXY index moving away from yesterday's lows, with participants preparing for a key jobs market report out of the U.S.
  • While U.S. NFP report will steal the limelight later in the day, its Canadian equivalent as well as German industrial output data and comments from Fed's Barkin & BoE's Pill are also due.
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.