- BNZ on RBNZ: "adjust our May rate hike call to 50 bps but, hesitantly, keep April at 25"
- Data from Australia earlier Tuesday - weekly consumer confidence languishing in pessimism
- Bank of Japan Governor Kuroda warns on less effective policy if 10yr JGB moves above 0.25%
- World Bank forecasts China's economy to grow by 5% this year
- G7 foreign ministers will meet in Brussels on Thursday 7 April
- China reports 16,400+ new daily coronavirus cases
- US Ambassador to Poland set to sign a deal with Poland to buy tanks, ammo & more
- BOJ Kuroda says will offer to buy unlimited 10 yr JGBS if rise in long-term rates is rapid
- US Treasury says it will not allow any USD debt payments to be made from Russian accounts
- Japan services PMI for March 49.4 (prior 45.8)
- Japan finance minister Suzuki says FX stability is important
- Senior BoJ Official: Japan's CPI likely to hover around 2% for some time from April onward
- Japan Minister says details of IEA-led oil release from reserves is still being worked out
- Bank of Japan Governor Kuroda says Japan's economy is likely to recover
- US Treasury has not authorised the latest Russian sovereign bond coupon payments
- China COVID-19 - Shanghai new infections reported today pass 10,000
- RBA 'shadow board' is "strongly in favour of keeping the cash rate steady"
- Japan data - February household spending is +1.1% y/y vs. +2.7% expected
- Japan data - February total cash earnings +1.2% y/y
- Being an S&P bear is 'fashionable' and not justified
- Australian services PMI 55.6
- Australian March 2022 Construction PMI rises to 56.5 from 53.4 in February
- Shanghai COVID-19 a "Black hole of information"
- Ukrainian President Zelensky will address the United Nations Security Council on Tuesday
- US Defense Department approved the sale of eight F-16 combat aircraft to Bulgaria
- Goldman Sachs raise its forecast for USD/JPY from 117 to ... 123
- North Korea says South Korea is not its main enemy, but it'll nuke 'em if it needs to
- Forexlive Americas FX news: Commodity currencies lead the way higher
- ICYMI - Morgan Stanley bear says rebound in equities is over
- Reserve Bank of Australia monetary policy meeting Tuesday 05 April 2022 - preview
- Trade ideas thread - Tuesday 05 April 2022
Bank of Japan Governor Kuroda mentioned the ‘intervention’ word in remarks during the session in Asia time today and immediately triggered a drop for USD/JPY. From around 122.80 USD/JPY hit lows circa 122.39 and, as I post, has stabilised just above 122.50. There were plenty more comments from the BOJ Governor (see bullets above) but the big impact was this.
Elsewhere across forex ranges have been subdued. China was out once again for a holiday, markets were closed in mainland China and Hong Kong. Taiwan was also out on holiday.
China reported surging coronavirus cases yet again today, 16,400+ new infections reported.
Still to come is the April Reserve Bank of Australia policy meeting – announcement and the accompanying statement from Governor Lowe is scheduled at 0430 GMT. There are previews in the bullets above. Spoiler – no change to policy but eyes are on Lowe’s comments for a less dovish lean.
Oil continued to rise after its gains during the US timezone on Monday.
