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

RPT-MNI INTERVIEW: Canada Budget Leans To Largesse-CFIB's Kelly

RPT-MNI INTERVIEW: Freeland Keeps Some Credit Shine: Desjardins

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

MNI: PBOC Sets Yuan Parity Lower At 7.1025 Weds; -5.39% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

Contributions to the Y/Y change in CPI

Restaurants and hotels drive the upside surprise at first glance

MNI: UK MAR CPI +0.6% M/M, +3.2% Y/Y

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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

Yen Regains Poise, Outperforms In Early Trade

FOREX

USD/JPY has given away its initial gains, taking a nosedive despite U.S. Tsy yields opening slightly higher on the back of some fresh hawkish Fedspeak. Risk-negative headlines from over the weekend may have lent some support to the yen.

  • The latest set of China's official PMIs disappointed as the manufacturing gauge unexpectedly plunged into contraction. On top of that, Sino-U.S. tensions over Taiwan and reported unrest on the Kosovo-Serbian border have provided sources of concern.
  • USD/JPY has now moved away from session lows (Y132.81) after failing to test last Friday's worst levels. The rate last operates at Y132.95, down 32 pips on the day.
  • The kiwi dollar outperforms its high-beta peers, even as AUD, CAD and NOK all struggle for any topside impetus. AUD/NZD is testing the water below the NZ$1.1100 mark.
  • Note that New South Wales observes a public holiday, with local financial markets closed as a result.
  • PMI data will continue to hit the wires through the day, with China's Caixin Manufacturing print providing the main point of note in Asia.
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.