Yen Decline Continues after Dovish BoJ Kuroda
Action Insight Mid-Day Report 1-20-23 |
Yen Decline Continues after Dovish BoJ Kuroda |
Yen's weakness continues into US session after BoJ Governor Haruhiko Kuroda repeated his dovish stance. Swiss Franc is also trading notably lower, reversing some of this week's gains. Aussie, Kiwi are extending recovery but there is no clear upside momentum. For the week, Sterling is still the strongest, followed by Swiss Franc while Yen is the worst, followed by Aussie. In Europe, at the time of writing, FTSE is up 0.17%. DAX is up 0.41%. CAC i up 0.56%. Germany 10-year yield is up 0.0735 at 2.138. Earlier in Asia, Nikkei rose 0.56%. Hong Kong HSI rose 1.82%. China Shanghai SSE rose 0.76%. Singapore Strait Times rose 0.54%. Japan 10-year JGB yield rose 0.0008 to 0.404. |
USD/JPY Mid-Day Outlook Daily Pivots: (S1) 127.13; (P) 129.35; (R1) 131.14; More... USD/JPY is still bounded in established range despite today's strong recovery. Intraday bias remains neutral first. On the upside, break of 131.56 minor resistance should confirm short term bottoming at 127.20. Intraday bias will be back on the up for stronger rebound to 38.2% retracement of 151.93 to 127.20 at 136.64. On the downside, though, firm break of 127.20 will resume larger fall from 151.93 to 121.43 fibonacci level next. | |
GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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21:30 | NZD | Business NZ PMI Dec | 47.2 | 47.4 | 47.2 | 23:30 | JPY | National CPI Y/Y Dec | 4.00% | 4.40% | 3.80% | 23:30 | JPY | National CPI Core Y/Y Dec | 4.00% | 4.00% | 3.70% | 23:30 | JPY | National CPI Core-Core Y/Y Dec | 3.00% | 2.90% | 2.80% | 00:01 | GBP | GfK Consumer Confidence Jan | -45 | -41 | -42 | 07:00 | GBP | Retail Sales M/M Dec | -1% | 0.40% | -0.40% | -0.50% | 07:00 | GBP | Retail Sales Y/Y Dec | -5.80% | -4.20% | -5.90% | -5.70% | 07:00 | GBP | Retail Sales ex-Fuel M/M Dec | -1.10% | 0.40% | -0.30% | 07:00 | GBP | Retail Sales ex-Fuel Y/Y Dec | -6.10% | -4.40% | -5.90% | -5.60% | 07:00 | EUR | Germany PPI M/M Dec | -0.40% | -1.20% | -3.90% | 07:00 | EUR | Germany PPI Y/Y Dec | 21.60% | 20.80% | 28.20% | 13:30 | CAD | Retail Sales M/M Nov | -0.10% | -0.50% | 1.40% | 1.30% | 13:30 | CAD | Retail Sales ex Autos M/M Nov | -0.60% | -0.90% | 1.70% | 1.60% | 15:00 | USD | Existing Home Sales M/M Dec | 3.95M | 4.09M |
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