Japanese Yen Has Fallen

Market Reviews

Japanese yen has declined. FTSE and DAX increased 0.5%. CAC lifted 0.8%. Oil prices have recommenced and WTI is trading over 43 after hitting the minimum of 42.05. Franc is soft. Pound has slightly improved. Yellow metal dropped to 1236.5 but got back to 1244. Bank of Japan had its meeting and all members agreed that in order to reach price stability, the stimulus exit should be moderate and unhurried. John Williams (San Francisco Fed President) told that strong labor market might become a threat to the economy and therefore Fed should develop a rate hikes strategy for this year.

BIS (the Bank of International Settlement) claimed that Central Banks should shift to a tightening policy faster. Hyun Song Shin (bank's head of research) noted that delaying will only harm the global economy. He also mentioned the case of growing inflation, trade protectionism, high debts and political uncertainties.

Japan corporate service price index grew 0.7% yoy in prior month. German Ifo business lifted to 115.1 this month. Expectations increased to 106.8. Current assessment rose to 124.1. The United States will announce durable goods orders, consumer confidence, personal income and spending. Eurozone will publish Consumer Price Index flash. Japan will show consumer inflation. China will announce PMIs.