JPY

Japan preliminary May manufacturing PMI 50.5 (prior 49.6)

• Jibun / S&P Global flash PMI for Japan in May 2024

Reuters survey of Japanese firms: Almost half of firms see USD/JPY above 155 as a negative

• The other half are long ;-)

USD/JPY with another steady rise, nudging 156.80. Y'all ready for verbal intervention?

• At the very least Japan should wheel out Finance Minister Suzuki to tell he's got a 'sense of urgency'

10-year JGB yields touch 1% for the first time since 2013

• The 1% mark is a much anticipated level even after the BOJ has moved to scrap its yield curve control program

USD/JPY little changed after the Japanese data

• USD/JPY circa 156.20

Japan April Exports +8.3% y/y (expected +11.1%) Imports +8.3% (expected +9.0%)

• Trade data for April 2024 from Japan, both exports and imports up 8.3% y/y

Japan March Machinery Orders +2.9% m/m (expected -2.1%)

Reuters Tankan report for May: Manufacturing sentiment 9, unchanged from April

More from Japan's Suzuki: Weak yen has positive and negative aspects

• Japan finance minister Suzuki says is closely watching FX moves

Japan finance minister Suzuki says he will attend the G7 meeting and discuss "issues"

• G7 finance leaders meeting in Italy

USD/JPY has extended higher towards 156.40

• The rule of 3!

USDJPY moves to a new high after basing near 155.95 support. That is close risk now.

USDJPY Technical Analysis – The uptrend remains intact

• The USDJPY pair erased completely the drop seen after the US CPI report as the lack of recessionary data keeps the status quo. What’s next?

Japanese firms are starting to pass on rising labour costs to sales prices - BOJ survey

• The BOJ releases some findings in relation to its survey in trying to understand better the dynamics of Japanese firms

Saudi Crown Prince postpones his trip to Japan

• Due to the Saudi King being ill