Capital Daily Investors are getting the yen right for the wrong reasons Renewed murmurs of additional tweaks to the Bank of Japan’s (BoJ) Yield Curve Control (YCC) policy are giving further impetus to the yen’s recent rally. Though we forecast the yen to strengthen... 13th July 2023 · 4 mins read
Asia Economics Update BoK to change course soon The Bank of Korea today left interest rates unchanged (at 3.5%) and the accompanying statement and press conference were more hawkish than we had anticipated. Accordingly, we are pushing back the... 13th July 2023 · 3 mins read
China Rapid Response China Trade (Jun.) Chinese exports contracted year-on-year in June by the most since March 2020, with export volumes falling to a 6-month low. And with the global downturn in goods demand continuing to weigh on exports... 13th July 2023 · 3 mins read
Japan Economics Update Weak yen won’t provide much boost to economy Last year’s sharp weakening of the yen hasn’t boosted goods exports, not least because most exports are invoiced in foreign currency and exporters haven’t slashed prices. Instead, it has lifted... 13th July 2023 · 4 mins read
India Rapid Response Consumer Prices (Jun.) Headline consumer price inflation came in at 4.8% y/y in June, comfortably within the RBI’s 2-6% tolerance range. But that’s already old news given the surge in vegetable prices so far in July and the... 12th July 2023 · 2 mins read
Australia & New Zealand Economics Update RBNZ’s hiking cycle is over The decision by the Reserve Bank of New Zealand to leave rates on hold at 5.50% came as a surprise to no one. Indeed, the Committee noted that monetary policy in New Zealand had turned restrictive far... 12th July 2023 · 3 mins read
Japan Rapid Response Japan Machinery Orders (May 2023) The fall in “core” machinery orders in May points to a significant fall in spending on machinery and transport equipment, contradicting more upbeat capital goods shipments data. We’re going with a... 12th July 2023 · 2 mins read
China Rapid Response Bank Lending & Broad Credit (Jun.) Although stronger than most had expected, bank loan growth still fell to its lowest in five months in June, while broad credit growth dropped to a record low. The continued deceleration adds to the... 11th July 2023 · 3 mins read
Japan Chart Pack Japan Chart Pack (Jul. 2023) This new Chart Pack has been designed to replace our Chart Book in response to client feedback to make our insights more accessible, and with more options to incorporate them into your workflow. Use... 11th July 2023 · 1 min read
India Economics Update The implications of a severe El Niño for India A severe El Niño event could be the harbinger of weak monsoon rains in India. This wouldn’t have as big an economic impact as it would have had a couple of decades ago. But it would harm employment... 10th July 2023 · 4 mins read
China Rapid Response Consumer & Producer Prices (Jun.) Producer price deflation deepened further last month to its lowest in more than seven years, and consumer price inflation dropped to a 28-month low of 0%. Core inflation continued to fall as the... 10th July 2023 · 3 mins read
Australia & New Zealand Chart Pack Australia & New Zealand Chart Pack (Jul. 2023) This new Chart Pack has been designed to replace our Chart Book in response to client feedback to make our insights more accessible, and with more options to incorporate them into your workflow. Use... 10th July 2023 · 1 min read
Commodities Weekly Russia & Saudi cuts; China’s control over critical metals Despite the flurry of macro data, it was a relatively quiet week for most commodity prices. Generally, a slight weakening in the US dollar, on net, contributed to small price rises. Oil prices were... 7th July 2023 · 4 mins read
FX Markets Update Intervention time: what next for the yen and the renminbi? China has stepped up its support of the renminbi and Japan appears to be edging closer to direct intervention to prop up the yen. While pressure from higher US interest rates may well continue in the... 7th July 2023 · 5 mins read
