January 31, 2025 at 04:52AM
Core inflation in Tokyo climbed to 2.5%, its fastest annual increase in nearly a year
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Australian December 2024 Private Sector Credit +0.6% m/m (expected +0.5%)
Bank of Japan Governor Ueda is speaking soon – appearing in the Diet
Reminder – China and Hong Kong markets closed today, Friday January 31, for a holiday
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Japan Industrial Production for December (preliminary): +0.3% m/m (expected +0.3%)
Japan Retail sales for December: +3.7% y/y (expected +3.2%)
Japan data: December Unemployment rate 2.4% (expected 2.5%)
Tokyo area January inflation data: Headline 3.4% y/y (expected 3%, prior 3%)
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Trade ideas thread – Friday, 31 January, insightful charts, technical analysis, ideas
After
the Trump-tariff-talk volatility late in the New York afternoon it
was a much more subdued session in Asia.
Equity
news was Q4 results from Apple (AAPL) with strong revenue but a
disappointment on sales growth. Woes in China were cited, where the
Chinese Communist Party has yet to approve Apple’s use of AI in the
latest iPhone model, while also creating obstacles for the company’s
efforts to shift manufacturing operations to India.
We
had a bundle of data from Japan today, of most note the Tokyo
inflation data for January. Core inflation in Japan’s capital hit a
1-year high. This will fuel further speculation of Bank of Japan rate
hikes ahead. Governor Ueda is speaking for the Diet (Japan’s
parliament) from 0535 GMT (0135 US Eastern time).
USD/JPY
tracked a 40 or so point range, circa 154.00/40. Other major FX
traded in small ranges only.
USD/CAD rose to a near 5-year high on the Trump tariff headlines late in NY time.
This article was written by Eamonn Sheridan at www.forexlive.com.
