The EUR/JPY ended the week at 122.75 with a loss of 0.36% as the euro gained and the yen eased as safe haven trading eased. Bloomberg Markets reported
The EUR/JPY ended the week at 122.75 with a loss of 0.36% as the euro gained and the yen eased as safe haven trading eased. Bloomberg Markets reported that the Bank of Japan’s policy is not affected by the international community’s pledges to avoid targeting exchange rates, Japanese Finance Minister Taro Aso said, adding that he told U.S. Treasury Secretary Jack Lew of his “strong concern” about recent moves in the yen. Finance chiefs from the Group of 20 economies agreed Thursday that excessive moves in exchange rates are undesirable, according to Finance Minister Taro Aso, who added that the global economy still faces downside risks.
“The G-20 has promised to avoid competitive devaluations, but this doesn’t apply to negative interest rates and other steps done for domestic policy purposes,” Aso said he told his counterparts at a Group of 20 meeting in Washington. Aso also said he and Lew agreed that excessive currency moves are undesirable.
The comments come as the Bank of Japan’s policy is under scrutiny both at home and abroad. The BOJ’s negative-rate policy was identified as a source of concern for some international officials at the G-20’s last meeting in Shanghai.
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Major Economic Events for the week:
Cur. | Event | Actual | Forecast | Previous | ||||
Monday, April 18, 2016 | ||||||||
NZD | CPI (QoQ) (Q1) | 0.1% | -0.5% | |||||
Tuesday, April 19, 2016 | ||||||||
EUR | German ZEW Economic Sentiment (Apr) | 8.0 | 4.3 | |||||
USD | Building Permits (Mar) | 1.200M | 1.177M | |||||
Wednesday, April 20, 2016 | ||||||||
GBP | Average Earnings Index +Bonus (Feb) | 2.3% | 2.1% | |||||
GBP | Claimant Count Change (Mar) | -10.0K | -18.0K | |||||
USD | Existing Home Sales (Mar) | 5.29M | 5.08M | |||||
USD | Crude Oil Inventories | 6.634M | ||||||
Thursday, April 21, 2016 | ||||||||
GBP | Retail Sales (MoM) (Mar) | -0.2% | -0.4% | |||||
EUR | Interest Rate Decision (Apr) | |||||||
USD | Philadelphia Fed Manufacturing Index | 8.0 | 12.4 | |||||
Friday, April 22, 2016 | ||||||||
EUR | German Manufacturing PMI (Apr) | 51.0 | 50.7 | |||||
CAD | Core CPI (MoM) (Mar) | 0.3% | 0.5% | |||||
CAD | Core Retail Sales (MoM) (Feb) | -0.5% | 1.2% |
Government Bond Auctions
Date Time Country Auction
Apr 18 11:00 Belgium Holds OLO auction
Apr 18 13:00 Norway Details of bond auction on Apr 20
Apr 20 11:05 Norway Holds bond auction
Apr 20 11:30 Germany Eur 4bn 0.5% Feb 2026 Bund
Apr 20 17:20 Italy Details of BTP€i auction
Apr 20 17:20 Sweden Details of bond auction on Apr 27
Apr 21 10:30 Spain Holds bond auction
Apr 21 11:03 Sweden Holds I/L bond auction
Apr 21 11:50 France Holds bond auction
Apr 21 19:00 US Holds 5-year TIPS auction
Apr 22 17:20 Italy Announces details bond auction