It was generally a quiet week in the FX markets, but the Japanese yen closed as the big loser among the major currencies. Positive global risk sentiment rose to hurt safe havens on the improving U.S.-China trade situation, and we got rhetoric from the BOJ of their openness to cut rates if needed.
Japanese Headlines and Economic data
- Japan’s bank lending up by 1.8% in December, lower than November’s 2.1% growth
- Japan current account surplus rises 75% on falling energy prices
- Economy watcher sentiment rises in December on eased impact of Japan’s tax hike
- BOJ cuts economic view on three regions, stays cautiously optimistic
- Bank of Japan’s Kuroda says won’t hesitate to ease further if needed
- Money Supply M2 in Japan by 2.7% in Nov., inline with the 2.7% rise in Oct.
- Japan posts record machinery orders growth in November in boost to economy
- Japan Producer prices rise 0.9% y/y in December
- Japan manufacturers remain gloomy: Reuters Tankan