CADJPY CAD/JPY
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CAD/JPY News
Statistics Canada Reports Manufacturing Sales up 1.1% at $70.8B in April
The increase followed a decline of 1.8 per cent in March.
Forex Today: Japanese Yen Slides as BoJ Maintains Policy Settings
The Japanese Yen (JPY)stays under selling pressure on Friday as markets assess the Bank of Japan's (BoJ) monetary policy announcements.
Core inflation may accelerate, and the Bank of Japan is expected to raise interest rates further.
Economists expect that Japan's core CPI year-on-year growth rate in May may accelerate from 2.2% last month to 2.6%, which will lead to the Bank of Japan continuing to raise interest rates in the coming months.
The Bank of Japan kept interest rates unchanged and announced that it will not decide on reducing its bond-buying program until next month. The yen fell close to the "intervention range".
The Bank of Japan kept interest rates unchanged on Friday, but stated that the reduction in bond purchases will be announced at the July meeting, which in fact is delaying the process of normalizing monetary policy. On June 14, the Bank of Japan announced its latest interest rate decision, maintaining the benchmark interest rate at 0-0.1%, and the committee unanimously agreed on the interest rate resolution by 0-9, which was in line with market expectations. In terms of bond purchases, the Bank of Japan was "ambiguous," announcing a reduction in the amount of government bond purchases, but continuing to purchase bonds based on the March decision, and will announce a reduction in the bond purchase plan at the next July meeting, deciding on the purchase of government bonds for the next 1-2 years. The Bank of Japan stated that it will hold a "bond market"
Japanese Yen Remains Subdued Ahead of BoJ Policy Decision
The Japanese Yen edges lower as the BoJ is widely expected to leave interest rates unchanged on Friday
Canada's central bank cuts interest rates against the trend, experts call for continued adjustment of interest rate policies and vigilance against the weakness of the Canadian dollar.
The Bank of Canada stated, "Overall, recent data suggests that the economy is still running in an over-supplied situation." Only two interest rate cuts by the Bank of Canada have been priced in by the market from now until the end of this year. However, the major risk in the future is the weakness of the Canadian dollar.
Canadian Dollar Pares Away Gains on Thursday
The Canadian Dollar (CAD) pared back recent gains against the US Dollar (USD) on Thursday, shedding a quarter of a percent against the USD as market flows pull back to safety and bolster the Greenback.
BoC's Kozicki: BoC to End Quantitative Tightening in 2025
Bank of Canada (BoC) Deputy Governor Sharon Kozicki noted on Thursday that the BoC is set to end its quantitative easing program and that future applications of QE will have a very high bar to pass before accessing additional monetary policy mechanisms.
Japan's Producer Inflation Hits Fastest Clip in Nine Months
The pace of gains in Japan’s producer prices quickened more than expected in May, registering the fastest clip in nine months, adding to signs of simmering inflationary pressure ahead of the Bank of Japan’s meeting this week.
Producer prices in Japan have increased at the fastest pace in nine months, adding to the accumulated signs of inflationary pressure.
Japan's producer price growth in May exceeded expectations, reaching the fastest growth rate in nine months, exacerbating signs of inflationary pressure on the eve of the Bank of Japan meeting this week. The Bank of Japan announced on Wednesday that the indicator measuring Japanese business input prices rose 2.4% year-on-year. This increase exceeded economists' expectations of 2%, mainly due to the increase in wind power surcharges. The price index rose 0.7% month-on-month, the largest increase in 18 months. The report showed that the cost of imported materials denominated in yen rose 6.9%, the largest increase since March last year, indicating that the yen-dollar exchange rate touched on April 29.
Japan's Producer Prices Climb 2.4% in May
Producer prices in Japan grew 2.4% year over year in May, faster than the revised reading of a 1.1% growth in April, marking the highest producer inflation rate since October 2023, preliminary data from the Bank of Japan on Wednesday showed.
Japanese Yen Declines as BoJ Is Expected to Maintain Its Current Interest Rates
The Japanese Yen edges lower as the BoJ is expected to maintain its current interest rates on Friday.
BOJ Could Stand Pat in June, Reduce JGB Purchase Pace Gradually -- Market Talk
The Bank of Japan may keep its short-term policy rate target unchanged in June, but is expected to come out with more communication around its Japanese government bond purchases, say HSBC Global Research economists in a note.
The prospect of the Bank of Japan's monetary policy is uncertain in the face of the difficult economic recovery.
The latest data shows that Japan's economy has shown almost no signs of a clear recovery, and its contraction is smaller than the initial estimate, which gives policymakers ample reason to continue to be cautious as the Bank of Japan considers the timing of its next rate hike.
Japanese Yen Loses Ground as Hawkish Sentiment Emerges Surrounding the Fed
The Japanese Yen (JPY) edges lower for the successive second trading day on Monday.
Japan Q1 GDP Contracts 0.5% QoQ versus -0.5% expected
Japanese Gross Domestic Product (GDP) for the first quarter (Q1) contracted 0.5% QoQ versus -0.5% expected and -0.5% prior, the Cabinet Office showed on Monday.
Bank of Canada cuts rates ahead of time, analyst says interest rate spread may lead to depreciation of the Canadian dollar.
This week, the Bank of Canada cut its policy rate by 0.25 percentage points, but people began to question how much the gap between the key interest rates of the two countries would widen as it is expected that the Federal Reserve will hold the overnight interest rate steady until autumn.
Japanese Yen Loses Ground Due to Decline in Japan's Foreign Reserves
The Japanese Yen (JPY) consolidates on Friday following the Japanese Foreign Reserves released by the Ministry of Finance for May, dropping significantly to $1,231 billion in May from $1,279 billion.
After the Bank of Canada fired the first shot in G7's interest rate cut, the market expects at least two more rate cuts this year.
Economists predict that the Bank of Canada will cut interest rates at least twice more in 2024 and that the interest rate will fall to 4.25% or 4%.
Most observers expect that the Bank of Japan will decide to reduce its bond purchase size next week.
More than half of the surveyed observers from Japan's central bank expect that the Bank of Japan will decide to reduce the scale of government bond purchases at next week's meeting.