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Euro rebounds vs Yen as BoJ rate hold, Eurozone inflation support
EUR/JPY trades around 184.00 on Friday, stabilizing after the sharp volatility seen on Thursday. The cross plunged to near 182.00 from around 187.00, losing almost 500 pips within minutes after what appears to have been another intervention by Japanese authorities in the foreign exchange market.
Japanese Yen: Wide range trading outlook – TD Securities
TD Securities’ Alex Loo notes that despite Governor Ueda’s hawkish tone, the Japanese Yen reaction was muted and the BoJ kept its policy rate at 1%.
Euro hits session lows against the British Pound following Eurozone inflation data
The Euro (EUR) edges lower against the British Pound (GBP) on Friday, hitting session lows at 0.8554 following the Eurozone’s preliminary inflation figures from July.
China: Growth drift and export reliance – Rabobank
Rabobank strategists highlight renewed weakness in China, with official PMI data showing both manufacturing and non-manufacturing back in contraction and domestic demand still soft. Policymakers are prioritizing faster implementation of existing measures over new stimulus.
ECB’s Kocher: Central bank policies will remain data-dependent
European Central Bank (ECB) Governing Council member Martin Kocher said in European trade on Friday that recent weeks have demonstrated how quickly geopolitical developments can alter energy prices and, consequently, the inflation outlook.
British Pound: BoE communication keeps restrictive stance – MUFG
MUFG analysts use a textual sentiment framework on the latest Bank of England (BoE) decision, finding a hawkish hold in Monetary Policy Committee (MPC) member contributions but a more balanced tone from Governor Bailey’s press conference.
Eurozone Harmonized Index of Consumer Prices (YoY) meets expectations (2.9%) in July
Eurozone Harmonized Index of Consumer Prices (YoY) meets expectations (2.9%) in July
Eurozone flash headline HICP rises at a stronger pace of 2.9% YoY, as expected
Annual Harmonized Index of Consumer Prices (HICP) in the Eurozone, as measured by changes in the prices of a representative basket of goods and services in the European Monetary Union, rises at a faster pace of 2.9% in July, as expected, against 2.8% in June.
Eurozone Harmonized Index of Consumer Prices (MoM) increased to 0.2% in July from previous -0.1%
Eurozone Harmonized Index of Consumer Prices (MoM) increased to 0.2% in July from previous -0.1%
Eurozone Harmonized Index of Consumer Prices (MoM) climbed from previous -0.1% to 2.8% in July
Eurozone Harmonized Index of Consumer Prices (MoM) climbed from previous -0.1% to 2.8% in July
Italy Consumer Price Index (MoM) below expectations (0.3%) in July: Actual (0.2%)
Italy Consumer Price Index (MoM) below expectations (0.3%) in July: Actual (0.2%)
Eurozone Harmonized Index of Consumer Prices (YoY) registered at 3.2% above expectations (2.9%) in July
Eurozone Harmonized Index of Consumer Prices (YoY) registered at 3.2% above expectations (2.9%) in July
Italy Consumer Price Index (EU Norm) (MoM) in line with forecasts (-1%) in July
Italy Consumer Price Index (EU Norm) (MoM) in line with forecasts (-1%) in July