BOJ Raises Policy Interest Rate: Outlook from Governor Ueda’s Press Conference
The Bank of Japan (BOJ) has decided to raise the policy interest rate to around 0.25%. In a press conference on the 31st, Governor Kazuo Ueda stated, “As the outlook for the economy and prices is progressing smoothly, we will consider further rate hikes if this outlook materializes.” Regarding the economic impact of additional rate […]
Preparing for Tomorrow’s BOJ Decision Meeting Announcement
The Bank of Japan (BOJ) Monetary Policy Meeting has begun today, with the results expected to be announced tomorrow, likely around midday. Following the announcement, BOJ Governor Ueda will hold a press conference. The market’s main scenario is a reduction in government bond purchases from the current 6 trillion yen to 3 trillion yen over […]
Quiet Start to the Week, Focus Shifts to Mid-Week U.S. and Japanese Monetary Policies
Quiet Start to the Week, Focus Shifts to Mid-Week U.S. and Japanese Monetary Policies The market opened quietly this week, with few notable economic indicators or speaking events. Despite weaker-than-expected GDP data from Sweden, the reaction in the Swedish krona was minimal. At 5:30 PM Japan time, the UK’s consumer credit and M4 money supply […]
Yen Appreciation Pauses, Market Trends Towards the Weekend
This week, the foreign exchange market saw rapid yen appreciation. The USD/JPY pair dropped to the 151 yen level, falling about 10 yen from the July 3 high of 161.95 to 151.94. This sharp movement resulted from a combination of factors. Firstly, the Japanese government and the Bank of Japan (BOJ) intervened in the market […]
Yen Appreciation Continues, Will U.S. GDP Preliminary Data Affect the Dollar Market?
The forex market this week has consistently seen yen appreciation. Following the weaker-than-expected U.S. Consumer Price Index (CPI), dollar selling has spread, and it is widely believed that the Japanese government and the Bank of Japan intervened by buying yen. Additionally, expectations of a rate hike at the BOJ Monetary Policy Meeting next week have […]
Will the Trend of Yen Appreciation Continue? U.S. Existing Home Sales and Major U.S. Company Earnings Reports in Focus
Today is relatively light on events. The main economic indicator is the U.S. existing home sales (June) to be released. The market expects 3.99 million units, down from the previous 4.11 million units. The expected ratio is -0.3% month-on-month. This forecast could potentially lead to dollar depreciation. Other scheduled economic indicators include the Central […]
USD/JPY Likely to Face Heavy Resistance
USD/JPY fluctuated in the morning session in Tokyo, reaching 157.01 yen in the afternoon. As the London session began, there was a surge in yen buying. Over the weekend, U.S. President Biden announced his withdrawal from the next presidential election, naming Vice President Harris as his successor. Polls have shown that Trump vs. Harris is […]
Yen Strength and Dollar Weakness Pause This Week, Attention Turns to Upcoming U.S. Blackout Period
This week saw a strong trend of yen appreciation and dollar depreciation, but today the trend has reversed, entering an adjustment phase heading into the weekend. The dollar-yen exchange rate has rebounded from the lower 155 yen range in the Tokyo market yesterday to the upper 157 yen range now. Adjustment Factors Trump’s Republican Presidential […]
Focus on Whether ECB Governing Council Will Hint at a September Rate Cut
Today’s key event is the ECB Governing Council meeting. Following the rate cut decided in June, the market expects the policy rate to remain unchanged this time. This meeting will scrutinize whether further rate cuts are necessary. The main point of interest is whether a rate cut in September will be clearly hinted at in […]
Monitoring Fed Officials’ Remarks, Approaching Blackout Period This Weekend
The next FOMC meeting is scheduled for July 31. Ahead of this, Fed officials will enter a “blackout period” starting this weekend, during which they will refrain from commenting on the economic outlook or monetary policy. Therefore, market participants will closely watch their remarks this week for any hints on future policy direction. Key Speeches […]