Date | 2:29am | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | ||
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2:29am | Actual | |||||||||
Mon Apr 29 | ||||||||||
Mon Apr 29 | All Day | EUR | German Prelim CPI m/m | 0.6% | 0.4% | |||||
3:00am | EUR | Spanish Flash CPI y/y | 3.4% | 3.2% | ||||||
Tentative | EUR | Italian 10-y Bond Auction | 3.67|1.4 | |||||||
7:01pm | GBP | BRC Shop Price Index y/y | 1.3% | |||||||
7:30pm | JPY | Unemployment Rate | 2.5% | 2.6% | ||||||
7:50pm | JPY | Prelim Industrial Production m/m | 3.4% | -0.6% | ||||||
JPY | Retail Sales y/y | 2.5% | 4.7% | |||||||
9:00pm | NZD | ANZ Business Confidence | 22.9 | |||||||
9:30pm | AUD | Retail Sales m/m | 0.2% | 0.3% | ||||||
AUD | Private Sector Credit m/m | 0.4% | 0.5% | |||||||
CNY | Manufacturing PMI | 50.3 | 50.8 | |||||||
CNY | Non-Manufacturing PMI | 52.2 | 53.0 | |||||||
9:45pm | CNY | Caixin Manufacturing PMI | 51.0 | 51.1 |
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A couple of quick moves and the pair is dragged back down on the day: chart USD/JPY 1-minute chart. I had a whole post lined up about how Tokyo had every reason to step in but they didn't earlier. So far, the drop is still seeing a couple of volatile pushes up and down when you drill down to the minute chart. It is not quite one with extreme force. As such, I'm inclined to say that this isn't a move by Tokyo to step in. But rather, exacerbated flows making its way through some stop orders. The pair now dips to 157.80 before being bought back up again to 158.20 in quick succession. post: AND USDJPY FALLS BACK DOWN TO ERASE 2HRS OF GAIN pic.twitter.com/lsojAG8qc5 USD/JPY drop gathers pace, now down to 157.21 on the day BOJ intervention in play? chart Now, this is starting to look a bit more forceful. The 150-pip decline earlier still had some semblance of the move that we saw on Friday last week. But now, the drop in USD/JPY is starting to look more forceful and convincing. If anything, we might have finally hit the nerve and Tokyo are responding in due kind. USD/JPY now down to 156.85 as I update the post. The question now is how long can Tokyo keep this up for as they look to draw a hard line on the yen fall? The big problem for Japanese officials is that they don't have the fundamental narrative on their side. post: USD/JPY Extends Decline, Falls 1.1% to Day’s Low at 156.60
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Bank of Japan intervention was, and still is, directed at controlling JGBs. Its not even a secret, YCC is Yield Curve Control! The BoJ tells us that while that policy is abandoned ...
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post: USDJPY BRIEFLY CROSSES 160 pic.twitter.com/Y1bdGt8dbA USD/JPY leaps above 160 (briefly) No fresh news to act as a catalyst, stop loss run cited. 160.24 seen, but its dropped back under 160 since. Above 160 to its highest since 1990. One minute candles: chart Japanese yen weakens to 160 against the U.S. dollar for the first time since 1990 The Japanese yen weakened to 160 against the U.S. dollar in Monday morning trading in Asia. The yen briefly touched 160.03 against the dollar, the weakest level since April 1990 when it touched 160.15, according to FactSet data. The currency has languished alongside continued strength in the greenback as Federal Reserve rate cut expectations get pushed back. The yen has traded around 150 or weaker against the dollar since the Bank of Japan ended its negative interest rate regime in March. On Friday, the central bank held rates and slightly raised its inflation expectations for fiscal 2024. Japanese authorities have repeatedly warned against “excessive” moves in the yen, but have made no official announcements about bolstering the currency. Some market watchers had suspected authorities would intervene at the 155 level, but the yen slid past that mark last week. Japanese markets are closed Monday for a public holiday.
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Claudio Piron, co-head of Asia foreign exchange and rates strategy at BofA Securities, says the weakness in the Japanese yen, which dropped as much as 1.2% to 160.17 per dollar on ...
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The price of the yellow metal has fallen from its high as US Dollar’s recovery driven by elevated US core PCE inflation data, putting pressure on the value of gold. The annual ...