FX option expiries for 7 January 10am New York cutNvidia CEO Jensen Huang unveiled a new series of gaming chipsThe PBoC is steadfast in not allowing further yuan weakness - here's whyRecap - Japan's Finance Minister warns against speculative yen sellingFed's Barkin speaking on Economic Forecast on TuesdayJapan verbal intervention to support the yen - Fin Min Kato will take actionUSD/JPY above 158.40 - when do we get intervention remarks from authorities?Canada is considering early announcement of retaliatory tariffs on U.S. goodsCanada politics - Mark Carney will consider running in the leadership racePBOC sets USD/ CNY central rate at 7.1879 (vs. estimate at 7.2994)China's NDRC, PBOC, MoF to hold a briefing on Wednesday - economic mattersUSD/JPY has hit its highest since July 2024Australian November 2024 Building Permits -3.6% m/m (vs. -1.0% expected)UK retail sales data for December jumps much higherGoldman Sachs trim 2025 Federal Reserve rate cut forecast, now expect 75bp (100 prior)TD remain bearish on CADNorth Korea is planning to launch an ICBM before trump's inaugurationMore on Goldman Sachs cutting their 2025 gold price forecastAustralian consumer confidence, weekly survey, jumped in the first week of 2025ICYMI - German December inflation came in much higher than estimatedForexlive Americas FX news wrap 6 Jan: Canada PM Trudeau to step downICYMI - OPEC's crude oil production declined in December, driven primarily by the UAEUS stocks close mixed. Dow down modestly. Nasdaq leads.Trade ideas thread - Tuesday, 7 January, insightful charts, technical analysis, ideas
USD/JPY rose to its highest since the middle of July 2024, hitting just over 158.40, before Japanese finance minister Kato weighed in with some verbal intervention to support the yen. Kato emphasised that the government is alarmed by sharp, one-sided moves in the foreign exchange market, particularly those driven by speculators, and is prepared to take action against excessive volatility.
USD/JPY has since dribbled back down to under 158.15 as I update.
Apart from this news and data flow was very light.
Major FX has traded in subdued ranges, characterised by a touch of USD weakness.
This article was written by Eamonn Sheridan at www.forexlive.com.
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