- Westpac forecast an RBA rate hike in May (were previously in June)
- Financial Times reports EU energy firms preparing to pay for gas in rubles
- Bank of Canada Governor Tiff Macklem spoke earlier - recap
- Bank of Japan decision day - preview
- Australia Q1 export prices +18.0% q/q (expected 3.7%) & import prices +5.1% (3.4%)
- PBOC sets USD/ CNY reference rate for today at 6.5628 (vs. estimate at 6.5614)
- New Zealand business confidence (April) -42.0 (vs. prior -41.9) & activity +8.0 (+3.3)
- China port city of Qinhuangdao city in the Hebei province locks down district
- President Biden will make remarks on support for Ukrainians on Thursday 28 April 2022
- Japan finance minister Suzuki says rapid yen moves are undesirable
- Japan data - Industrial Production (preliminary for March) +0.3% m/m (expected 0.5%)
- Japan data - Retail Trade for March +0.9% y/y (expected 0.4%)
- BoA on the yen heading into the Bank of Japan decision Thursday 28 April 2022
- US President Biden is planning to visit South Korea and Japan May 20-24
- South Korea's finance minister says the won's fall is too fast
- New Zealand March trade data, exports and imports both ahead of Feb figures
- After yesterday's surging inflation data analysts bring forward RBA rate hike expectations
- US Q1 GDP due Thursday - US officials watering down expectations
- Renewed yen weakness raises the intervention question again
- Forexlive Americas FX news wrap: The euro crumbles to the lowest since 2017
- RBNZ Deputy Governor Christian Hawkesby says its important to have more tools
- UK Foreign Secretary Truss says China must play by the rules
- Trade ideas thread - Thursday 28 April 2022
Apart from the yen, forex movement has been very subdued during the session here in Asia.
USD/JPY moved higher, to above 128.80 before drifting back under. We are awaiting the Bank of Japan policy statement at the conclusion of their meeting. If you are new to all this the BOJ does not have a firmly scheduled time for releasing statements at the end of their meeting. A 0230 to 0330 GMT time slot is the usual expectation. There are previews posted in the bullets above. Long story short is no change is expected to the bank’s main policy planks while inflation forecasts are expected to be bumped higher for this year due to surging energy prices (see bullets above).
There was a slew of data reports issued; from Australia, New Zealand, Japan. On the central bank front Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers spoke before the Senate Standing Committee on Banking, Trade and Commerce.
Coming up on Thursday US time is the Q1 GDP report. US officials have been busy hosing down expectations for this. I’ve seen some analysts warning a negative result cannot be ruled out (though none I have seen have it as their base case):
