It was a strong week for US stocks and gold, with the S&P rising about 3% by the end of the week. Markets are bracing for potential volatility and policy surprises as Donald Trump is inaugurated as US President. The Bank of Japan (BoJ) meeting on January 24th is a key event, with potential for…
Newsquawk Week Ahead – 20-24th January Highlights include BoJ, PBoC, PMI data, UK jobs, Inflation data from Canada, Japan and NZ MON: US Presidential Inauguration, PBoC LPR, Eurogroup Meeting; German Producer Prices (Dec) TUE: UK Unemployment/Wages (Nov), German ZEW (Jan), Canadian CPI (Dec), New Zealand CPI (Q4) WED: South African CPI (Dec),…
In remarks today, BoJ Deputy Governor Ryozo Himino signaled that a rate hike remains a tangible possibility at the upcoming policy meeting. He said the board “will discuss whether to raise interest rates next week, base its decision on thee projections detailed in the quarterly outlook report. Himino stated, “When the appropriate timing comes, we…
Japan economy minister Ryosei Akazawa said on Friday that Japan’s economy is at a ‘critical stage’ in eradicating the public’s deflationary mindset. Key quotes No change to the government’s stance to work closely with the BOJ on policy with an eye on the economy and prices.In deciding whether to declare a full exit from deflation,…
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any…
AUD/JPY rose as Australia Composite PMI revised upward to 50.2 in December, from the previous reading of 49.9. The Caixin China Services PMI increased to 52.2 in December, up from the previous reading of 51.5. Japan’s composite and services PMIs for December were revised downward, bolstering a dovish stance on the BoJ policy outlook. AUD/JPY…
Dollar Index started the new year with a pronounced surge. Sterling, Euro, and Swiss Franc bore the brunt of this strength, reflecting the sluggish economic outlook in Europe and ongoing concerns about the impact of new US tariffs. Despite these gains, Dollar’s performance against other currencies, including Yen and commodity-linked peers, was more muted. Consolidations…
In focus today From the US, the ISM Manufacturing index for December is due for release. The latest PMI survey and hard industrial production data have pointed towards subdued output growth. In the evening, Richmond Fed’s Barkin will be on the wires. In yesterday’s version, we incorrectly stated that we expect the Bank of Japan…
As the global markets reopen have the New Years’ Day, Japanese markets are closed for a holiday. It’s a very light economic calendar today, with no Japanese releases and only one US tier event – unemployment claims. In the European session, USD/JPY is currently trading at 157.12, down 0.12% on the day. We can expect…
USD/JPY depreciates as traders assess the market sentiment of the BoJ raising interest rates in January. The Japanese Yen is set to decline more than 10% against the US Dollar in 2024. US Treasury yields fell by approximately 2% with 2-year and 10-year yields at 4.24% and 4.53%, respectively, on Monday. USD/JPY extends its losses…