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....
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For further details see:
Yen Slumps, Germany Contracts, And The Week's Key Events Still Lie Ahead