CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

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

Yen Remains On Softer Footing After Monday's Underperformance

JPY

The yen lost ground on Monday as the risk backdrop improved amid promising signs re: China's COVID-19 situation, with Beijing and Shanghai moving to ease restrictions.

  • BoJ Gov Kuroda told lawmakers that the FX market has stabilised and earlier yen depreciation was not driven by ultra-loose monetary policy but various factors.
  • Cash U.S. Tsys did not trade on Monday as local markets were shut in observance of a public holiday.
  • In local news, NHK reported that Japan eyes adding flexibility to primary balance target, while Yomiuri suggested that the FY25 reference for this target could be dropped.
  • Japanese data releases move into a higher gear today, with unemployment, retail sales, flash industrial output on tap.
  • Looking further afield, capital spending & company profits/sales will hit the wires on Wednesday.
  • USD/JPY last sits at Y127.74, 15 pips higher on the day, with bulls keeping an eye on May 17 high of Y129.78. A clearance of that level would bring May 9 high of Y131.35 into play. Bears look for a retreat past the 50-DMA/May 24 low at Y126.86/36.
HomepageBank of Japan (BOJ) Market NewsBulletMarketsForeign 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.