EROTF - Yen Slumps Germany Contracts And The Week's Key Events Still Lie Ahead
2024-07-30 06:48:00 ET
Summary
- An unexpected decline in Japan's unemployment did not prevent a retreat in the yen to a four-day low ahead of tomorrow's data and conclusion of the BOJ meeting.
- An unexpected contraction in Germany's Q2 GDP was offset in the aggregate by better French, and especially Spanish figures, leaving the euro consolidating in a narrow range.
- The US 10-year yield is little changed at 4.18%.
Overview
An unexpected decline in Japan's unemployment did not prevent a retreat in the yen to a four-day low ahead of tomorrow's data and conclusion of the BOJ meeting. The dollar has probed the JPY155 area, where nearly $3.5 bln options expire today. An unexpected contraction in Germany's Q2 GDP was offset in the aggregate by better French, and especially Spanish figures, leaving the euro consolidating in a narrow range (~$1.0815-$1.0835). The greenback is softer against most emerging market currencies, including the Chinese yuan, which has shrugged off today's yen weakness....
Yen Slumps, Germany Contracts, And The Week's Key Events Still Lie Ahead