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28 May 2013
Flash: Markets primed to act on BoJ – Deutsche Bank
FXstreet.com (Barcelona) - Markets have been in holiday-mode over the last 24 hours, however things looks set to pick up over the latter half of the week with the help of a heavy data slate.
According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “Japan will remain in the spotlight with Kuroda speaking tomorrow at a BoJ Conference in Tokyo, on the same day that the BoJ has scheduled a meeting with JGB-market participants to discuss the recent rise in bond yields.” According to a BoJ official, the central bank will be using this meeting to help it decide its schedule for JGB purchases starting from June.
This Friday's Japanese data releases including household spending, employment, inflation and industrial production will be important in light of a recent Nikkei poll which suggested only 22% of respondents felt there has been an improvement in the economy. Elsewhere in Asia, a closely watched data point will be China's official manufacturing PMI, scheduled for Saturday, where consensus estimates are looking for a slowdown in activity to an eight-month low of 50.0 (vs 50.6 last month).
According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “Japan will remain in the spotlight with Kuroda speaking tomorrow at a BoJ Conference in Tokyo, on the same day that the BoJ has scheduled a meeting with JGB-market participants to discuss the recent rise in bond yields.” According to a BoJ official, the central bank will be using this meeting to help it decide its schedule for JGB purchases starting from June.
This Friday's Japanese data releases including household spending, employment, inflation and industrial production will be important in light of a recent Nikkei poll which suggested only 22% of respondents felt there has been an improvement in the economy. Elsewhere in Asia, a closely watched data point will be China's official manufacturing PMI, scheduled for Saturday, where consensus estimates are looking for a slowdown in activity to an eight-month low of 50.0 (vs 50.6 last month).