The China PMI from MNI will be released in a few minutes and the more-influential HSBC PMI an hour afterwards. Sentiment about a slowdown in China may be a touch extreme at the moment after the highly-publicized report from Merrill … Continue reading
Will boost intervention fund by 15T yen in third extra budget Will act decisively on FX if necessary Won’t rule out any measures To flexibly monitor speculative moves in FX Will extend rule requiring traders to report on trading vols … Continue reading
S&P rating lowered one notch, outlook is stable. This comes after the downgrade by Fitch earlier, while Moody’s affirmed its Aaa rating. Quick 40 pip drop in NZD/USD but it has bounced back. I’m expecting further declines. The lowering of … Continue reading
I talked about it earlier. Some quarter-end flows might be prompting the bump in JPY here.
The NBNZ New Zealand business outlook survey declined in September and optimism from business about growth over the next 12 months fell to 35.4% from 43.3%. Inflation expectations eased to 3.23% from 3.45%.
Manufacturers expected Sept output -2.5% vs -2.4% exp Expect Oct output +3.5% Govt says production nearly recovered since quake but must be watched closely
Fractional yen strength on this data and industrial production is coming up next. Although the CPI numbers were ok, the drop in household spending has to be a concern. I’m not entirely sure if there are some revisions or changes … Continue reading
July was -0.2% y/y Ex-food and energy -0.5% vs -0.6% y/y exp and -0.5% prior Tokyo core CPI -0.1% vs -0.1% exp and -0.2% prior household spending -4.1% y/y vs -2.8% exp and -2.1% prior
Jobs/applicant ratio 0.66 vs 0.65 exp and 0.64 prior