USDJPY: Asian session update: Stocks and USD fall as they begin
USD weakened, JPY and antipodeans led the rise
Asian stocks fell, with futures on the S&P 500 index up slightly by 0.07%
US 10-year bond yield falls 1.7bp to 3.88%
Gold increased 0.5% to around $2063/oz
WTI oil increased 0.2% to above $73.70/barrel
Bitcoin accumulates around 43.5K
Investors continued to digest November PCE and December Consumer Sentiment data released on Friday, which showed that monthly inflation in the US fell for the first time in more than 3½ years, while sentiment Consumer sentiment remains strong, reflecting the economy's durability. A deceleration in core inflation and growing recession fears will prompt the Fed to shift from "committing to fighting inflation with higher interest rates for longer" to reassuring markets that it will "not hold rates." stayed high for too long".
In the FX market, major currencies increased slightly after the Christmas holiday as the USD weakened. USD/JPY is steady at 142.30. The prospect of the BoJ removing its ultra-loose policy has supported JPY's rise in recent weeks. Yesterday, BoJ Governor Ueda announced that the possibility of reaching the inflation target is "gradually increasing" and that they will consider adjusting policy if there is "enough" prospect of reaching the 2% target in a sustainable way.
Asian stocks fell, with futures on the S&P 500 index up slightly by 0.07%
US 10-year bond yield falls 1.7bp to 3.88%
Gold increased 0.5% to around $2063/oz
WTI oil increased 0.2% to above $73.70/barrel
Bitcoin accumulates around 43.5K
Investors continued to digest November PCE and December Consumer Sentiment data released on Friday, which showed that monthly inflation in the US fell for the first time in more than 3½ years, while sentiment Consumer sentiment remains strong, reflecting the economy's durability. A deceleration in core inflation and growing recession fears will prompt the Fed to shift from "committing to fighting inflation with higher interest rates for longer" to reassuring markets that it will "not hold rates." stayed high for too long".
In the FX market, major currencies increased slightly after the Christmas holiday as the USD weakened. USD/JPY is steady at 142.30. The prospect of the BoJ removing its ultra-loose policy has supported JPY's rise in recent weeks. Yesterday, BoJ Governor Ueda announced that the possibility of reaching the inflation target is "gradually increasing" and that they will consider adjusting policy if there is "enough" prospect of reaching the 2% target in a sustainable way.
Comment:
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