- 5 reasons the Bank of Japan should be wary of hiking rates this week
- Japan's Hayashi says Bank of Japan and government to closely coordinate
- 📉 Chart of the day: Failed breakout in S&P 500 e-mini futures (ES) 4-hour
- Bank of Japan Decision Day: Will Rates Rise or Hold Steady?
- Australia data - June Building approvals -6.5% m/m (expected -1.5%)
- PBOC sets USD/ CNY central rate at 7.1364 (vs. estimate at 7.2586)
- Fake news headline - Elon Musk says he doesn’t like crypto all that much.
- 2 tweaks to watch for in Wednesday's Federal Open Market Committee (FOMC) statement
- Australian weekly consumer confidence lower @ 83.1
- Japan data - June unemployment rate 2.5% (expected 2.6%)
- Global decline in McDonald's sales is an excellent indication of how strong economies are
- 4 opportunities for the Federal Reserve to signal a rate cut - September a hot prospect
- Singapore's Temasek plans to invest $30bn in the US over next 5 years
- China further obscuring information about overseas funds going in & out of its stock mrkt
- HSBC remains bullish on Asian equites
- Deutsche Bank on the Fed - "market has jumped the gun on a dovish pivot"
- MUFG worry that lack of BoJ guidance on this week's meeting means no rate hike until Dec
- Forexlive Americas FX news wrap: US dollar starts out strong and then gives some back
- Broader indices close modestly higher. Dow down marginally.
- Trade ideas thread - Tuesday, 30 July, insightful charts, technical analysis, ideas
About the only fresh news or data of note during the session were the employment figures from Japan for June. The unemployment rate fell to 2.5%, its first drop in five months. Separate data showed the third consecutive month of decline for jobs to applicants, to a still huge 123 jobs available for every 100 job seekers.
USD/JPY tracked a range between 153.63 and 154.24.
GBP slid a little against the USD, as did CAD. AUD and NZD also a touch soft but none of the ranges were large. EUR/USD dribbled a handful of tics lower.
BTC/USD, too, dribbled a little lower.
The Bank of Japan decision is due tomorrow. The statement is expected sometime between 0230 and 0330 GMT (there is never a set time from the BoJ) on Wednesday, July 31, 2024
- thatt's 2230 - 2330 US Eastern time on Tuesday, July 30, 2024
Bank of Japan Governor Ueda follows up with his press conference at 0630 GMT (0230 US Eastern time).
