Yen Extends Fall As European Shares Advance Ahead Of Brexit Extension Vote
14 Marzo 2019 - 11:58PM
RTTF2
The Japanese yen extended its early decline against its major
counterparts in the early European session on Thursday amid risk
appetite, as investors awaited a key vote for extension of Brexit
in the House of Commons, which would delay the departure date
beyond the March 29 deadline.
With the MPs rejecting a 'no-deal Brexit' on Wednesday, members
will vote again today regarding whether to ask the EU to delay
Brexit by up to three months.
If all member countries approve, the EU can grant such a request
at a March 21-22 summit in Brussels.
Investors are pricing more stimulus measures from Beijing
following a slowdown in China industrial output at the start of
2019.
China's industrial output grew an annual 5.3 percent in the
first two months of 2019, a government report showed.
This marked the slowest pace of growth in 17 years and fell
short of expectations for a score of 5.5 percent.
At the same time, retail sales climbed 8.2 percent and fixed
asset investment rose 6.1 percent in the same period, beating
expectations.
Oil prices surged following a data showing a decline in U.S.
crude stockpiles, adding to signs of tightening oil market.
Data from Energy Information Administration showed that crude
inventories fell by 3.9 million barrels, contradicting forecasts
for 2.66 million barrel rise.
Investors focused on the Bank of Japan's 2-day monetary policy
meeting that began today. The central bank is widely expected to
keep its benchmark rate at minus 0.1 percent and the 10-year yield
target around zero percent under a policy dubbed yield curve
control.
The currency has been trading lower against its major
counterparts in the Asian session.
The yen declined to an 8-day low of 111.31 against the Swiss
franc, from Wednesday's closing value of 110.70. The next key
support for the yen is seen around the 113.00 level.
Data from the State Secretariat for Economic Affairs showed that
the Swiss government's experts cut the growth forecast for this
year further, citing weaker demand for the country's exports due to
the slowdown in the global economy and trade.
The GDP growth forecast for this year was trimmed to 1.1 percent
from 1.5 percent predicted in December.
The Japanese currency that ended yesterday's trading at 111.15
against the greenback dropped to a weekly low of 111.71. The yen is
poised to find support around the 113.00 level.
The yen dropped to 9-day lows of 83.94 against the loonie and
126.57 against the euro from yesterday's closing values of 83.55
and 125.89, respectively. If the yen falls further, 85.00 and
129.00 are likely seen as its next support levels against the
loonie and the euro, respectively.
The yen slipped to a 2-day low of 76.47 against the kiwi and an
8-day low of 78.98 against the aussie in the Asian session and held
steady thereafter. The yen ended Wednesday's trading at 76.20
against the kiwi and 78.85 against the aussie. On the downside,
78.00 and 80.00 are possibly seen as the next support levels for
the yen against the kiwi and the aussie, respectively.
The yen weakened to 148.87 against the pound, its weakest since
November 2018. Next key support for the yen is likely seen around
the 150.00 area.
Looking ahead, Canada new housing price index for January, U.S.
import price index for February, weekly jobless claims for the week
ended March 9 and new home sales for January are scheduled for
release in the New York session.
NZD vs Yen (FX:NZDJPY)
Gráfica de Divisa
De Mar 2024 a Abr 2024
NZD vs Yen (FX:NZDJPY)
Gráfica de Divisa
De Abr 2023 a Abr 2024