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JPY/CAD News
Japan's Hayashi: Will Take Appropriate Steps on Excessive FX Moves
Japan’s Chief Cabinet Secretary Hayashi echoed comments from the country’s Finance Minister Shunich Suzuki on Wednesday, noting that he “will take appropriate steps on excessive fx moves.“
Japanese Retail Trade Rises Faster Than Expected in May, Growing 3% Versus the Forecast 2%
Japan's Retail Trade for the year ended in May, clocking in at 3% YoY versus the forecast hold at 2.0%. On the downside, the previous period's print was revised down to 2.0% from the initial print of 2.4%.
Japan's retail sales growth exceeded expectations and has supported economic growth amidst inflation.
On June 27th, Guo Lin Hui reported that Japan's retail sales in May increased compared to the previous month. Faced with persistent inflation, consumer demand remained stable. Data from Japan's Ministry of Economy, Trade and Industry showed that seasonally adjusted retail sales in May increased by 1.7%, higher than economists' expectation of 0.8%. The year-on-year growth rate reached 3%, also exceeding the market expectation. These numbers may be higher due to price increases. This may indicate that strong wage growth is helping Japanese consumers cope with inflation, and the influx of record-breaking foreign tourists continues to boost store sales. Consumption will be the key factor in determining whether Japan's economy can achieve growth in the second quarter after experiencing a contraction in the previous quarter.
TD Says Deep Rate Cuts Will Revive Canada's Economic Growth
The Bank of Canada’s decision to begin cutting interest rates ahead of the Federal Reserve will ultimately lead to a “big tailwind” for the Canadian economy, Toronto-Dominion Bank economist James Orlando said.
Deloitte forecasts that the Canadian economy will recover in the second half of the year, and the second interest rate cut will be delayed until September.
According to Deloitte Canada's Summer Economic Outlook report released on Wednesday, June 26th, as the Canadian economy continues to recover in the second half of the year, the Bank of Canada will resume cutting interest rates in September. However, they also warned that more urgent measures are needed to address the underperforming productivity.
Bank of Canada's Cutting Cycle a 'Big Tailwind for Canadians': Economist
One economist says that over the longer term, Canada’s interest rate-cutting cycle will spur strong economic growth relative to the U.S.
Canada's Weak Productivity Poses Risk to BOC's Inflation-Taming Efforts -- Market Talk
Canada's chronically weak productivity, alongside a sharp rise in labor costs, represents an "unsustainable" situation that poses a risk to Bank of Canada efforts to slow inflation, economists at Deloitte say.
Canada CPI Needs to Show 'Significant' Slowing To Enable BOC July Cut -- Market Talk
Economists at Macquarie say Canadian inflation data for June will need to show "a significant moderation," from the prior month for the Bank of Canada to consider a July rate cut.
The continuous decline of the Japanese yen triggered a chain reaction! Gold broke through the key level of 2300.
Just after Japanese officials issued a verbal warning, the yen took a dive and fell further. When will the authorities take action?
June's CPI Will Determine Whether The Bank of Canada Cuts at Next Meeting, Says Rosenberg Research
Rosenberg Research said it got a bit of a surprise from Tuesday's Canadian consumer price index (CPI), which doubled consensus expectations in May, coming in at 0.6% m/m non-seasonally adjusted (NSA).
Japanese Yen Nears Critical 160.00 Level as Japan's 10-year Rate Hits 1%
The Japanese Yen (JPY) is retreating further and faces over 5% devaluation against the US Dollar since the Japanese government's latest intervention back in May.
The Japanese yen falls below 160 threshold for the first time in two months.
Some traders expect the yen to continue to weaken to 170, reaching a new low since 1986.
The yen fails to hold the 160 mark. Will the Japanese government increase its intervention efforts?
The yen once fell below 160, and all the efforts that the Japanese authorities have made to intervene in the recent period have been wiped out!
The rare revision of GDP data by the Japanese government may lead to a delay in the Japanese central bank's interest rate hike.
On June 26, Guo Lianhui reported that the Japanese government stated that it would revise the GDP data for the first quarter to reflect the corrected construction order data and announce the revised results on July 1. Some analysts believe that the Japanese government's unplanned revision of GDP data could result in a significant downward revision of GDP, or could affect the Bank of Japan's economic growth forecast and the timing of the next rate hike. Yoshiki Shinke, a senior economist at the Dai-ichi Life Research Institute, expects that the revised data will show that Japan's first-quarter economic quarter-on-quarter annual rate was a contraction of 2.7%, far higher than the currently estimated contraction.
Japan's government will adjust the GDP data for January to March. Analysts are worried that it will be significantly downgraded, affecting the timing of interest rate hikes.
Due to the adjustment of construction orders data, Japan's GDP data for January to March will be revised, which has caused concern among many analysts; As GDP data may be substantially downgraded, analysts believe that this not only represents Japan's deeper economic contraction, but may also postpone the Bank of Japan's interest rate decision.
Express News | Morgan Stanley is taking a contrarian view on the yen and expects it to rise to 120.
When will Japan intervene in the foreign exchange market again? Wall Street: this set of heavyweight data on Friday is key.
With the yen falling to the 160 level again this week, almost all traders in the forex market are currently focusing on when the Japanese authorities will intervene in the yen exchange rate again.
Will there be major actions from the Bank of Japan in July? One-third of economists predict that rate hikes and algo tightening will be announced at the same time.
Among the economists surveyed by Bloomberg, one-third predict that the Bank of Japan will take action in July to raise interest rates and announce a blueprint for quantitative tightening policies.
'Crazy' for Japan to Intervene on Yen Before Friday, Traders Say
The next big pain point for the yen — and a potential trigger for intervention from Japan — may emerge from a readout on the Federal Reserve’s favored US inflation gauge on Friday.
Bank of Japan's big move in July: Interest rate hike + Quantitative Tightening?
One-third of Japan's central bank observers expect that the interest rate hike in July will be announced in tandem with the QT plan.