- (JP) Former Bank of Japan (BOJ) Official Okina: BOJ resolve to keep borrowing costs ultra low is causing a negative spiral of Yen depreciation; Recent Yen moves are very sharp and problematic.

- (JP) Japan MoF sells ¥1.2T v ¥1.2T indicated in 0.800% 20-year JGBs, Avg Yield: 0.9050% v 0.7240% prior, bid-to-cover: 3.38x v 3.10x prior.

- (JP) Japan Former FX Chief Nakao: Continuing with YCC has many negative effects; Clear that monetary policy is playing role in the weak Yen.

- (JP) Bank of Japan (BOJ) offers to buy 5-10 year JGBs at fixed rate of 25bps; Opens window to buy unlimited amount of 10-year JGBs at 0.25% [as expected].

- (JP) FT: Investors 'crank up' bets on the Bank of Japan (BOJ) surrendering Yield Curve Control (YCC).

- (JP) Japan Investors Net Buying of Foreign Bonds: -496.7B v -¥867.2B prior; Foreign Net Buying of Japan Stocks: -942.5B v -¥206.4B prior.

Korea

- Kospi opened +0.2%.

- (KR) South Korea Fin Min Choo: Will work to minimize adverse impact from weakening Won currency (KRW).

- (KR) Bank of Korea (BOK) Sr Dep Gov Lee: Need to tame inflation via pre emptive policy; Rate hike negative impact on growth is limited.

- (KR) South Korea to probe speculative property investment by foreigners - Yonhap.

China/Hong Kong

- Hang Seng opened +0.7%; Shanghai Composite opened +0.2%.

- (CN) China Premier Li: To mull extending NEV purchase tax exemption; Incentives may boost auto consumption by CNY200B.

- (CN) China President Xi: Call for enhancement of regulations for major payment platform companies; To enhance regulation of financial holding companies; To step up macro policy adjustments; Vows to boost economic controls to meet annual target - BRICS summit remarks.

- (HK) Hong Kong incoming Chief Exec John Lee: Working on a strategy to reopen the border with China.

- (CN) China PBOC sets Yuan reference rate: 6.7079 v 6.7109 prior.

- (HK) SCMP comments on the recent currency interventions by the HKMA: the central bank has purchased ~HK$104.3B since May 2022.

- (CN) China PBOC Open Market Operation (OMO): Sells CNY10B in 7-day reverse repos v CNY10B prior; Net CNY0B v Net CNY0B prior.

- (CN) China May Swift Global Payments (CNY): 2.15% v 2.14% prior.

- (CN) Securities Times Paper: Issues warning against what it calls 'improper' policies that boost property sales.

- (HK) Macau Leader Ho to hold a briefing on COVID at 2:30ET.

North America

- (US) White House reportedly to authorize commercial labs to conduct monkeypox tests in an attempt to dramatically expand testing - WaPo.

Europe

- (IE) Ireland June Consumer Confidence: 57.7 v 55.5 prior.

Levels as of 01:20 ET

- Nikkei 225, -0.1%, ASX 200 +0.3% , Hang Seng +1.4%; Shanghai Composite +0.7% ; Kospi -0.6%.

- Equity S&P500 Futures: flat; Nasdaq100 flat, Dax -0.3%; FTSE100 -0.4%.

- EUR 1.0581-1.0556 ; JPY 136.30-135.12 ; AUD 0.6928-0.6882 ;NZD 0.6297-0.6253.

- Gold -0.3% at $1,833/oz; Crude Oil -2% at $104.06/brl; Copper -1.7% at $3.8720/lb.

Author

TradeTheNews.com Staff

TradeTheNews.com

Trade The News is the active trader’s most trusted source for live, real-time breaking financial news and analysis.

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