- Chinese state media talking up the solid rise for April industrial profits
- China April Industrial Profits +3% y/y (prior +2.6%)
- Goldman Sachs sees lower oil prices in 2025-2026
- Japanfinmin Kato: Important for currencies to move in stable manner reflecting fundamental
- PBOC sets USD/ CNY central rate at 7.1876 (vs. estimate at 7.1842)
- Japan fin min Kato: Market sees rising rates as reflecting concerns about state finances
- BIS’ Carstens: Essential for fiscal authorities to curb relentless rise in public debt
- JPY is trading stronger on the back of solid inflation data, BoJ Gov Ueda comments
- PBOC is expected to set the USD/CNY reference rate at 7.1842 – Reuters estimate
- Bank of Japan Governor Ueda – close to inflation target but not quite there
- Japan Services Producer Price Index (April 2025) +3.1% (expected +3.0%, prior +3.1%)
- UK launches £3 billion plan to train locals, cut foreign worker reliance
- UK BRC Shop Price Index for May 2025: -0.1% y/y (expected –0.1%, prior –0.1%)
- ICYMI: OPEC+ meeting moved to May 31, a day earlier than previously planned
- More preview remarks on the expected RBNZ 25bp rate cut this week
- Central bank conference kicks off today, its just like Jackson Hole but in Tokyo!
- Reserve Bank of New Zealand expected to cut its cash rate by 25bp this week – preview
- ICYMI: South Africa plans to buy around USD1bn a year of liquefied natural gas from the US
- Forexlive Americas FX news wrap 26 May: Trump tariff delay lifts risk sentiment
- ICYMI: PBoC ‘asks’ major banks to increase yuan share in crossborder trade to 40%, from 25
- Trade ideas thread – Tuesday, 27 May, insightful charts, technical analysis, ideas
The
early move here in Asia was for the US dollar to fall. Its losses
were across the majors board, with reasons cited including
- Trump’s
tax plan - surging
US government indebtedness - Moody’s
downgrade
None
of these is new information now.
The
euro bounced from its drip lower on Monday, Europe time, with tariff
relief cited, along with Lagarde’s remarks pointing to growing
sentiment it could compete with the dollar in global reserves.
USD/JPY
was a notable loser, falling on
- solid
wholesale services inflation - but
more so on a speech from Bank of Japan Governor Ueda, that didn’t
appear all that hawkish. Ueda did reiterate that the BOJ will
continue to raise rates, depending on economic and price conditions.
China’s
industrial profits rose in April for a second straight month, and at
their fastest since December.
This article was written by Eamonn Sheridan at www.forexlive.com.
