Tag Archive: $JPY

Short Summary Weekly MOF Portfolio Flows

2017-06-25

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2017-06-25

Japanese investors bought the third largest amount of foreign bonds this year last week, but still not enough to offset sales in first part of the year. Japanese investors are buying around the same amount of foreign equities as last year. Foreign investors are buying more Japanese stocks and bonds than they did on average last year.

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FX Daily, June 23: Dollar Pares Gains Ahead of the Weekend

2017-06-23

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2017-06-23

The US dollar is trading lower against all the major currencies today, which pares its earlier gains. The greenback is holding on to small gains for the week against most of them, except the New Zealand dollar, Swiss franc and Norwegian krone.

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Great Graphic: Fed, ECB, and BOJ Balance Sheets

2017-06-23

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2017-06-23

This Great Graphic composed on Bloomberg shows the balance sheets of the Federal Reserve, the European Central Bank, and the Bank of Japan as a proportion of GDP.

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FX Daily, June 22: Greenback Goes Nowhere Quickly, While Yen Remains Bid

2017-06-22

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2017-06-22

The summer doldrums begin early. The US dollar is little changed against most of the major currencies. Bond yields are mostly one-two basis points lower, and equity markets are mixed but with a downside bias. Oil prices slump more than 2% on Tuesday and again on Wednesday. This is weighing on bond yields and equities.

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FX Daily, June 21: Heavy Oil Weighs on Yields and Lifts Yen

2017-06-21

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2017-06-21

The US dollar is narrowly mixed against the major currencies. The drop in oil prices (3.3% this week) is seen as one of the factors that may be underpinning the appetite for fixed income, and this, in turn, is lifting the yen. The greenback had approached JPY112 yesterday, but with the drop in oil prices and yields has seen it retreat toward JPY111.00.

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FX Daily, June 19: Dollar Mixed while Equities Recover to Start Eventful Week

2017-06-19

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2017-06-19

The US dollar is mixed against the major currencies, and while it is firmer against the euro and yen, it is within last week's ranges. The success of Macron's new party in France, and the majority is secured, was well anticipated by investors and is having little effect on today's activity in the capital markets.

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FX Weekly Preview: Events Not Data Key in Week Ahead

2017-06-19

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2017-06-19

Light economic data calendar, but look for downtick in eurozone flash PMI. Soft Canadian retail sales (volume) and softer CPI (base effect) could take some of the sting from the recent BoC official comments. MSCI decision on China, Argentina, Saudi Arabia, and South Korea may have the broadest and long-lasting impact of the five key events we highlight.

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FX Daily, June 16: Dollar Slips In Consolidation, but Extends Recovery Against the Yen

2017-06-16

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2017-06-16

As the market heads into the weekend, the US dollar is trading softer as it consolidates. It is within yesterday's ranges against the major currencies but the Japanese yen. The dollar has made a dramatic recovery against the yen. It traded near JPY108.80 in the middle of the week and pushed through JPY111 in late in the Tokyo morning. The greenback is above its 20-day moving average against the yen for the first time in a month.

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FX Daily, June 15: Dollar Trades Higher in Wake of the FOMC

2017-06-15

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2017-06-15

The US dollar gains scored yesterday in response to what appeared to be a more hawkish FOMC than expected have been extended today. The euro and the Swiss franc have recorded new lows for the month.

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FX Daily, June 14: FOMC and upcoming SNB

2017-06-14

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2017-06-14

The Euro has risen by 0.37% to 1.0901 CHF. This is a typical movement ahead of the SNB meeting tomorrow. This movement is probably unrelated to the Fed rate hike, given that the USD/JPY has fallen. It makes sense to go long CHF against JPY, if you bet on an inactive SNB. Inactive SNB would mean that the central bank will not speak about stronger FX Interventions or about lower rates.

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FX Daily, June 13: Dollar Softens Ahead of Start of FOMC Meeting

2017-06-13

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2017-06-13

The US dollar is trading with a heavier bias against all the major currencies save the Japanese yen. The Scandis and Canadian dollar are leading the move. Sweden reported a 0.1% rise in the headline and underlying inflation while the median expected a decline of the same magnitude. The year-over-year pace slowed but not as much as expected.

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FX Weekly Preview: Politics and Economics in the Week Ahead

2017-06-12

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2017-06-12

FOMC, BoE, and BOJ meet next week; only the Fed is expected to change policy. High frequency data may be less important than the central bank meetings and politics in the week ahead. UK political situation is far from resolved, and US drama continues, while several hot spots in the EMU are emerging.

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FX Daily, June 09: Sterling Shocked, Dollar Broadly Firmer

2017-06-09

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2017-06-09

What looked like a savvy move in late April has turned into a nightmare. Collectively, voters have denied the governing Conservative party a parliamentary majority. The uncertainty today does not lie yesterday with the known unknown, but with the shape of the next government and what it means for Brexit.

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FX Daily, June 07: Markets Mark Time Ahead of Tomorrow

2017-06-07

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2017-06-07

Tomorrow may be the most important day of the quarter for investors. The ECB meets. The UK goes to the polls. Former FBI Comey testifies. Ahead of these significant events, the global capital markets are mostly quiet, with some pockets of activity.

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FX Daily, June 06: Yen Propelled Higher

2017-06-06

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2017-06-06

The week was supposed to be dominated by the UK election and the ECB meeting, but the yen is stealing the show in the first part of the week. The US dollar has been sold through JPY110 for the first time since late April. The euro has fallen from JPY125.30 before the weekend to JPY123.25 today.

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FX Daily, June 05: US Dollar Starts Important Week Mostly Stable to Higher

2017-06-05

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2017-06-05

The US dollar is beginning what promises to be an important week on a steady to firmer note against most of the major currencies. It is a holiday in parts of Europe (e.g.,m Germany and Switzerland). Although excitement is not until Thursday's ECB meeting, UK election, and the testimony of former US FBI Director Comey, there are several developments today to note.

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Drop in the US Unemployment Rate Not Sufficient to Mask Disappointing Report

2017-06-02

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2017-06-02

Poor jobs growth won't challenge June hike expectations but September and balance sheet. Little positive in today's report. Drop in unemployment explained by drop in participation rate. Trade deficit was larger than expected, which may point to slower Q2 growth.

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FX Daily, June 02: Dollar Marks Time Ahead of US Jobs Report

2017-06-02

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2017-06-02

The foreign exchange market is becalmed, leaving the US dollar narrowly mixed. The euro has been confined to less than a 20-pip range through the Asian session and most of the European morning. The news stream is light. The US withdrawal from the Paris Accord may have garnered the headlines, but as a market force, it is difficult to detect the immediate impact.

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