Risk sentiment and Japan’s data had the yen all over the charts last week. Can this week’s catalysts inspire a more uniform price action?
Kuroda’s speech (Jul 22, 4:00 pm GMT)
Bank of Japan (BOJ) Governor Kuroda gets to start the yen’s week! See, the central bank head honcho has a speech scheduled at the IMF in D.C.
In a presser last week, Kuroda shared that he and his team will wait “until the last minute” for data on economic, price, and financial conditions before they approve their next policies.
If you recall, BOJ members have been hinting that they’re willing to step up their stimulus efforts amidst global trade and consumer price uncertainty.
Tomorrow at 6:00 am GMT the BOJ will publish its version of annualized core CPI numbers for the month of July.Last Friday we found out that the country’s core inflation slowed to 0.6%, the slowest since July 2017. Naturally, the report inspired speculations that the BOJ will soon be announcing new stimulus measures.
If the BOJ’s CPI reading isn’t enough for you, then you could watch out for Tokyo’s core CPI due on Friday at 12:30 am GMT.
The report doesn’t usually get a lot of fireworks, but a lot of traders look at it as a leading indicator for the nation’s prices.
Missed last week’s price action? Read JPY’s price recap for July 15 – 19!