- More from Ueda: Trend inflation remains below 2% but gradually accelerating
- BOJ Gov Ueda says extremely important for FX rates to move stably, reflect fundamentals
- Its looking more and more certain to be Biden vs. Trump in US 2024 Presidential vote
- Japan fin min Suzuki: There may be some 'movements' in Japan's monetary policy in future
- Bank of Japan Governor Ueda repeats its appropriate to maintain YCC, easy monetary policy
- Chinese authorities "nudged" banks this month to cut deposit interest rates further
- PBOC sets USD/ CNY central rate at 6.8847 (vs. estimate at 6.8853)
- Coming up today - Bank of England’s Ben Broadbent gives a speech on monetary policy
- Google searches for the phrase “how to buy gold” have hit their highest in 20 years
- BOJ meeting this week - preview - the BOJ may move on a 5-year JGB target option
- Japan's Cabinet Office monthly report maintains moderate view on economic recovery
- Japan data: March Services PPI +1.6% y/y (expected +1.6%, prior +1.8%)
- Bank of Japan Governor Ueda speaking today - appearing in the Diet from 9.40am Tokyo time
- South Korea Q1 GDP +0.3% q/q (vs. expected +0.2%, prior -0.4%)
- BOJ meeting preview - Deutsche Bank expect a policy revision, 3 scenarios
- Australian Q1 CPI due mid-week - preview: "Past the peak, but still too high"
- ICYMI - Growing concerns that China may be facing a new Covid wave
- US debt ceiling - analyst warns McCarthy's plan "meaningfully increases" recession chance
- ICYMI - Guy who forecast BTC/USD at $200K now says “crypto is dead in America”
- ICYMI - ECB officials spoke Monday, all indicated higher interest rates yet to come
- Forexlive Americas FX news wrap 24 Apr: USD falls helped by lower rates
- BOJ meet this week - preview - YCC to be abandoned but not until July
- Another big earthquake in Asia-Pacific, another tsunami warning
- Trade ideas thread - Tuesday, 25 April 2023
Its been a day of fairly small ranges across major forex rates with little data nor fresh news to impact here during the timezone.
Bank of Japan Governor Ueda appeared in the Japanese parliament and once again said it wasn’t the time to be reducing policy accommodation. I’m taking his extensive remarks today and in previous days to indicate little prospect of any substantial change to policy at the Bank of Japan meeting coming up later this week (the Statement is due Friday around 0230 to 0330 GMT or so). Maybe that's naive given the surprises that the BOJ have dropped with zero warning, most recently the widening of the 10-year JGB yield band tolerance back in December of 2022.
Anyway, back to the wrap, there isn’t a lot to report from the timezone.
Australian and New Zealand markets were closed today for the ANZAC Day holiday.
A huge US earnings week is keeping US stock indexes on tenterhooks and in subdued ranges. Spilling over into Asia too.
Asian equity markets:
Japan’s Nikkei 225 +0.39%
China’s Shanghai Composite -0.37%
Hong Kong’s Hang Seng -1.61%
South Korea’s KOSPI -1.17%
Australia’s S&P/ASX 200 -> closed today
EUR/USD 5 minute candles:
