The yen is rallying in early Asian trade after a Nikkei report the Bank of Japan will consider allowing Japanese Government Bond yields to rise over 1.0%.
In part one of our bonus deep-dive interview, ANZ’s Head of Asia Research Khoon Goh explains how Asia’s economies are doing much better than the global headlines might suggest.
5 things to know
The yen surged to 1.4905/US$ by 5am AEST on a Nikkei Asia report1 that the Bank of Japan will consider changing its Yield Curve Control (YCC) programme later today to allow the 10-year JGB to rise over 1.0%. ANZ’s Head of FX Research Mahjabeen Zaman previews the BoJ meeting.
Brent crude fell 4% to US$87/bbl overnight with few signs yet of a widening conflict in the Middle East that would affect oil supplies from the region.
ANZ’s Head of G3 Economics Brian Martin sees the Fed deciding early on Thursday morning Asian time to hold the Fed Funds rate unchanged.
Australian retail sales growth of 0.9% in September was stronger than expected, but it’s unlikely to be the start of a rebound, says ANZ Economist for Australia Maddy Dunk.
New Zealand jobs and wages figures due tomorrow are expected to show a further loosening, says ANZ New Zealand economist Henry Russell.
Cheers
Bernard
PS: Look out tomorrow for tomorrow with the results from the Bank of Japan meeting later today and fresh PMI data from China, along with part two of the deep dive interview on Asia’s economic resilience.
