U.S. equities closed higher overnight, but Asian markets turned mixed on Thursday as risk sentiment remained muted. Nvidia’s stronger-than-expected earnings beat on both revenue and profit dominated headlines but failed to deliver a sustained boost to risk appetite. In currency markets, Dollar softened as this week’s rebound lost steam. Overall trading remained subdued with no […]
The manufacturing sector in Japan continued to contract in August, although at a slower rate, the latest survey from Jibun Bank revealed on Thursday with a manufacturing PMI score of 49.9. That’s up from 48.9 in July, although it remains just barely beneath the boom-or-bust line of 50 that separates expansion from contraction. The survey
There are three themes dominating currency markets today: a stronger rebound in the Yen, firming Sterling, and a sharp tumble in Kiwi. Moves are being shaped by local economic drivers as well as shifting central bank expectations, setting the stage for a cautious but active session. Yen’s rally came alongside a steep pullback in Japanese
Japan posted a merchandise trade deficit of 117.550 billion yen in July, the Ministry of Finance said on Wednesday. That missed forecasts for a surplus of 196.2 billion yen following the downwardly revised 152.1 billion yen surplus in June (originally 153.1 billion yen). Exports were down 2.6 percent on year at 9.359 trillion yen, missing
Japan’s gross domestic product expanded a seasonally adjusted 0.3 percent on quarter in the second quarter of 2025, the Cabinet Office said in Friday’s preliminary report. That beat forecasts for an increase of 0.1 percent following the upwardly revised 0.1 percent gain in the previous three months (originally flat). On an annualized basis, GDP was
The Japanese Yen (JPY) is up 0.4% against the US Dollar (USD) and a relative underperformer among the G10 in an environment of broad-based USD weakness, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report. Narrowing yield spreads in a JPY-supportive manner “Domestic developments have been limited, as markets await the release of key
A measure of the public assessment of the current situation of the Japanese economy improved less-than-expected in July, survey data from the Cabinet Office showed on Friday. The current conditions index of the Economy Watchers’ Survey rose to a 5-month high of 45.2 in July from 45.0 in June. The expected score was 45.5. However, any score
After a week of volatility, the forex markets settled into a quieter rhythm during the Asian session on Friday. Swiss Franc stabilized somewhat, but remains the weakest performer this week after a heavy blow from Washington. Switzerland’s diplomatic efforts fell short as the harsh 39% US tariff on Swiss imports officially kicked in. The import
The value of overall bank lending in Japan was up 3.2 percent on year in July, the Bank of Japan said on Friday – coming in at 644.396 trillion yen. That exceeded expectations for an increase of 2.7 percent, which would have been unchanged from the downwardly revised figure in June (originally 2.8 percent). Excluding
The monetary base in Japan was down 3.9 percent on year in July, the Bank of Japan said on Monday – coming in at 643.896 trillion yen. That follows the downwardly revised 3.5 percent annual decline in June (originally -3.3 percent). Banknotes in circulation were down 2.4 percent on year, while coins in circulation fell
The Bank of Japan maintained its interest rate on Thursday and lifted its inflation outlook citing the rise in food prices. The policy board unanimously decided to hold the uncollateralized overnight call rate to remain at around 0.5 percent. Previously, the bank had raised the benchmark rate to the current level from 0.25 percent in
The value of retail sales in Japan was up 2.0 percent on year in June, the Ministry of Economy, Trade and Industry said on Thursday – coming in at 12.966 trillion yen. That beat forecasts for an increase of 1.8 percent following the downwardly revised 1.9 percent gain in May (originally 2.2 percent). Wholesale sales
Fool me once, shame on you. Fool me twice, shame on me. It’s a maxim on many traders’ minds as they try to gauge the authenticity – or otherwise – of US president Donald Trump’s pronouncements. When news broke on July 16 that Trump had drafted a letter to remove Federal Reserve chair Jerome Powell, the
Producer prices in Japan were up 3.2 percent on year in June, the Bank of Japan said on Friday. That was in line with expectations and down from the upwardly revised 34 percent in May (originally 3.3 percent). On a monthly basis, producer prices slipped 0.1 percent for the second straight month. Excluding international transportation,
Hedge funds that bet the yen would materially weaken following last weekend’s Japanese election were left disappointed after prime minister Shigeru Ishiba announced he would stay on, despite his ruling coalition party losing control of the country’s upper house. Going into the election, investors had turned bearish on the yen, holding roughly $1.1 billion in
Japan’s private sector logged a steady growth in July as stronger growth in the service sector was offset by a fall in manufacturing output, flash survey data from S&P Global showed on Thursday. The flash composite output index remained unchanged at 51.5 in July. A score above 50.0 indicates expansion in the sector. The survey
Japan’s inflation softened more than expected in June but continued to remain above the 2 percent target, data from the Ministry of Internal Affairs and Communications showed Friday. Core inflation that excludes fresh food cost eased to 3.3 percent in June from 3.7 percent in May, which was the highest in two years. Meanwhile, excluding
