Asia Summary and Highlights 15 May

May 15, 2024 5:03 AM UTC

China's government is considering buying unsold homes to ease oversupply
Australia Q1 Wage Price Index +0.8% q/q (expected +0.9%)

Asia Summary and Highlights 14 May

May 14, 2024 5:13 AM UTC

Japan Suzuki says it is important for currencies to move in stable manner, reflecting fundamentals

Asia Summary and Highlights 13 May

May 13, 2024 5:05 AM UTC

Japan's Kato says its natural that monetary policy will revert to positive interest rates
China's April CPI +0.3% y/y vs. +0.1% expected

Asia Summary and Highlights 10 May

May 10, 2024 5:03 AM UTC

The US planning to impose tariffs on EVs from China after review

Asia Summary and Highlights 9 May

May 9, 2024 5:59 AM UTC

BoJ summary of opinion shows more hawkish members but March wage data disappoints

Asia Summary and Highlights 8 May

May 8, 2024 5:23 AM UTC

USD/JPY up three days in a row and drew verbal intervention from Japanese finance minister

Asia Summary and Highlights 7 May

May 7, 2024 6:09 AM UTC

RBA leaves cash rate unchanged at 4.35%

Asia Summary and Highlights 6 May

May 6, 2024 4:24 AM UTC

USD/JPY up a figure 

Asia Summary and Highlights 3 May

May 3, 2024 6:06 AM UTC

USD/JPY rotates lower

Asia Summary and Highlights 2 May

May 2, 2024 6:01 AM UTC

Another potential BoJ intervention in Asia time when only New Zealand market is opened

Asia Summary and Highlights 1 May

May 1, 2024 6:01 AM UTC

USD/JPY quiet but upwards

Asia Summary and Highlights 30 Apr

April 30, 2024 5:16 AM UTC

USD/JPY relatively quiet  on Tuesday after Monday's intervention

Asia Summary and Highlights 29 Apr

April 29, 2024 4:56 AM UTC

USD/JPY jumped two big figures after opening lower
Buyers taking advantage of Japanese holiday and lack of signal for intervention
And faced the intervention train immediately

Asia Summary and Highlights 26 Apr

April 26, 2024 4:16 AM UTC

Overview - The USD ended slightly weaker, as gains on stronger than expected Q1 core PCE price data were erased. 

Asia Summary and Highlights 25 Apr

April 25, 2024 5:24 AM UTC

Japan chief cabinet secretary Hayashi said rapid FX moves undesirable, ready for full response

Asia Summary and Highlights 23 Apr

April 23, 2024 4:58 AM UTC

BoJ's Ueda has a barrage of comments on policy stating the obvious

Asia Summary and Highlights 22 Apr

April 22, 2024 4:44 AM UTC

Risk sentiment broadly positive on lack of geopolitical escalation
USD/JPY testing recent high again

Asia Summary and Highlights 19 Apr

April 19, 2024 4:10 AM UTC

Israel retaliated with potential missile and drones attack in Iran
But Iran said "there have been no airstrikes, only shot-down quadcopters"
Japan National y/y CPI at 2.7%, down from 2.8% 

Asia Summary and Highlights 18 Apr

April 18, 2024 4:08 AM UTC

Kanda says Japan is in talks on FX and other issues with US & others and G7 reconfirmed commitment on forex stance put forward by Japan
Australian March unemployment rate 3.8% vs. 3.9% expected

Asia Summary and Highlights 17 Apr

April 17, 2024 6:07 AM UTC

New Zealand Q1 CPI comes in at +4.0% y/y, 4.7% prior, +0.6% q/q, prior +0.5%.

Asia Summary and Highlights 16 Apr

April 16, 2024 5:18 AM UTC

Asia Session
While Japanese cabinet's Suzuki and Hayashi both seems to have escalated their rhetoric against the JPY weakness, the broad USD strength seems to be in the driver seat. No doubt the pace of JPY weakness has been rapid and we are getting closer and closer to the intervention zone, the lan

Asia Summary and Highlights 12 Apr

April 12, 2024 4:40 AM UTC

Japan finance minister Suzuki says won't rule out any steps to respond to disorderly FX moves

Asia Summary and Highlights 11 Apr

April 11, 2024 5:19 AM UTC

Japan finance minister Suzuki says Forex levels are basically determined by markets

Asia Summary and Highlights 10 Apr

April 10, 2024 6:16 AM UTC

RBNZ kept rates unchanged at 5.5% and suggest OCR to stay restrictive for a sustained period of time
BoJ Ueda anticipates accommodative financial conditions will be maintained for time being
BoJ Governor Ueda says won't change monetary policy just to deal directly with FX moves

Asia Summary and Highlights 9 Apr

April 9, 2024 5:01 AM UTC

USD/JPY knocking on 152
Japan finance minister Suzuki says excess FX volatility is undesirable

Asia Summary and Highlights 8 Apr

April 8, 2024 4:55 AM UTC

February Japan Labour cash earnings +1.8% y/y
Metals performing strongly 

Asia Summary and Highlights 5 Apr

April 5, 2024 4:41 AM UTC

USD/JPY's early dip below 151 reversed despite more verbal intervention

Asia Summary and Highlights 4 Apr

April 4, 2024 6:22 AM UTC

Asia Session
The antipodeans are the standout performer against the USD as the greenback trade broadly softer. The Australian service PMI continue to show the strength of Australian services sector, which has been highlighted by the RBA, a critical factor in the high inflation picture in Australia. W

Asia Summary and Highlights 3 Apr

April 3, 2024 6:11 AM UTC

Taiwan earthquake with magnitude of 7.5 and more
FX market response muted

Asia Summary and Highlights 2 Apr

April 2, 2024 5:17 AM UTC

Jawbone intervention did not curb JPY fall
RBA minutes show there was no discussion of hike
"National Team" seen selling USD/CNY

Asia Summary and Highlights 27 Mar

March 27, 2024 5:35 AM UTC

USD/JPY reached level last seen in 1990 
Japan finance minister Suzuki won't rule out any steps in response to disorderly FX moves

Asia Summary and Highlights 26 Mar

March 26, 2024 5:15 AM UTC

Japan fin min Suzuki says won't rule out steps to address disorderly FX moves

Asia Summary and Highlights 25 Mar

March 25, 2024 5:20 AM UTC

Japan Kanda says closely watching FX moves with high sense of urgency
January BoJ minutes outdated but suggest BoJ no rush to further tighten

Asia Summary and Highlights 22 Mar

March 22, 2024 4:51 AM UTC

Japan February National  headline CPI 2.8% vs. 2.2% in January
Regional sentiment tanks

Asia Summary and Highlights 21 Mar

March 21, 2024 5:16 AM UTC

Australian February unemployment rate 3.7% (vs. 4.0% expected)
USD continue to drop post FOMC

Asia Summary and Highlights 20 Mar

March 20, 2024 4:35 AM UTC

USD/JPY broke 151 figure

Asia Summary and Highlights 19 Mar

March 19, 2024 5:22 AM UTC

BoJ hiked rate to 0-0.1%, discontinue purchase of ETF, J-Reits and YCC phasing out. 
RBA keep rates at 4.35% but updated forward guidance

Asia Summary and Highlights 18 Mar

March 18, 2024 5:16 AM UTC

Asia Session
The BoJ meeting will be conducted from Monday to Tuesday and market participants should be ready for any "leaks" coming out as they will be market moving. Some big names are forecasting a hike in the March meeting but we feel like the BoJ is in no rush to hike with headline CPI moderatin

Asia Summary and Highlights 15 Mar

March 15, 2024 4:36 AM UTC

Suzuki says Japan is no longer in deflation as strong trend of wage hikes happening now

Asia Summary and Highlights 14 Mar

March 14, 2024 4:55 AM UTC

Market participants' view on BoJ policy caught between March and April meeting
Light calendar day otherwise

Asia Summary and Highlights 13 Mar

March 13, 2024 3:48 AM UTC

Toyota agreed to union wage hike demand 

Asia Summary and Highlights 12 Mar

March 12, 2024 5:17 AM UTC

Japan’s finance minister Suzuki thought it was too early to say deflation was beaten and also not at a stage where Japan can avoid the risk of falling back into deflation
Ueda emphasis again the Bank needs to see wage talk results before any policy change

Asia Summary and Highlights 11 Mar

March 11, 2024 4:47 AM UTC

Japan (final) Q4 GDP +0.1% q/q, preliminary -0.1%; annualized 0.4%, preliminary -0.4%.
Bank of Japan is considering scrapping its yield curve control program reported by Japan's JiJi
China February CPI +0.7% y/y (expected +0.3%)

Asia Summary and Highlights 8 Mar

March 8, 2024 5:09 AM UTC

Japan January Household Spending -6.3% y/y (expected -4.1%)

Asia Summary and Highlights 7 Mar

March 7, 2024 5:50 AM UTC

Japan January Cash earnings +2% y/y, expected +1.3%, prior +0.8%
Australian January exports +1.6% m/m (prior +1.8%) & Imports +1.3% (prior +4.8%)

Asia Summary and Highlights 6 Mar

March 6, 2024 5:44 AM UTC

Australian Q4 2023 GDP +0.2% q/q vs. expected +0.3%, 1.5% y/y vs expected 1.4%. 
Bank of Japan reported to be revising down assessment on consumption, output at March meeting

Asia Summary and Highlights 5 Mar

March 5, 2024 6:10 AM UTC

Tokyo Headline CPI 2.6% y/y, prior 1.8%; ex-Fresh Food 2.5%, prior 1.8% ex Fresh Food & Energy 3.1%, prior 3.3%
Reuters reported China will target around 5% 2024 GDP growth in their work report 

Asia Summary and Highlights 4 March

March 4, 2024 5:16 AM UTC

OPEC+ extends output cuts by three months
Japanese media Mainichi and Kyodo reporting Japan gov't mulls declaring official end to deflation

Asia Summary and Highlights 1 Mar

March 1, 2024 7:13 AM UTC

Ueda said he need to see the outcome of wage negotiations currently taking place for confirmation of a positive wage-inflation cycle