Japan interveneret

Udgivet den 07-08-1996  |  kl. 13:36  |  


Traders were encouraged when they learned just how
heavily Japan intervened on behalf of the yen last month,
without having much lasting impact, explained Earl Johnson,
foreign exchange economist with Bank of Montreal in
Chicago.
Japan's foreign currency reserves at the end of April
showed the first decline in four months, with reserves down
$17.835 billion. A Ministry of Finance spokesman said this
was the largest monthly drop ever and was due mainly due to
dollar-selling intervention to halt the fall of the yen.
"That shows they intervened very aggressively, and it
failed to keep the yen from weakening," said Johnson. "So
we're at a three-week high for dollar/yen."
Other analysts also pointed to continued weakness in
the Japanese economy, on the day after the U.S. government
reported 4.2% growth in gross domestic product in the first
quarter. Furthermore, they noted that today's data out of
Japan showed the propensity of the Japanese to save rather
than consume.
"Data out of Japan underlined the desperate state of
the economy," commented analysts at GNI Research.
Household spending in Japan fell in March from a year
earlier by an inflation-adjusted 5.7%. Meanwhile, domestic
new motor vehicle sales for April fell 7.4% from a year
earlier.
Meanwhile, postal savings in Japan grew 6.8% in April
from a year earlier to 241.91 trillion yen, topping the 240
trillion yen mark for the first time, the government
said.
GNI analysts did note, however, that Japanese exporters
are known to have left sell orders in dollar/yen above Y134
ahead of the four-day weekend, which could limit any upside
potential for the U.S. currency.

Udgivet af: NPinvestordk

Seneste nyheder

06:30 Kalender med link - mandag den 9. december
17:49 Europa/lukning: Syvende handelsdag med plus for Stoxx 600 - forsikringsselskab i top
17:46 Rift om svensk børsdebutant: Onlineapoteket Apotea steg knap 45 pct.
17:44 Feds Goolsbee: Det amerikanske arbejdsmarked ser stadig stabilt ud
17:21 Meta Platforms på rekordkurs efter Tiktok står over for amerikansk forbud efter dom
17:06 Fredagens aktier: Pandora var den klareste stjerne og trodsede C25 i marginalt plus
17:00 Fredagens obligationer: Rentefald efter amerikanske jobdata fadede ud
16:01 Amerikansk forbrugertillid stiger - også mere end ventet - i december
15:39 USA/åbning: Grønt boost efter jobtal - regnskaber giver kursplus til Lululemon og HP
15:25 Pandora på rekordkurs efter positiv sektoranalyse fra Goldman Sachs
15:12 Nordnet spår muligt C25-comeback til Netcompany eller FLSmidth
14:57 Økonomer tror fortsat på amerikansk rentesænkning i december efter jobtal
14:54 USA/tendens: Humøret vender på Wall Street - regnskab løfter Lululemon og HP
14:45 Renter dykker og futures går i grønt efter stigende arbejdsløshed i USA
14:34 Amerikansk beskæftigelsesrapport viser højere ledighed end ventet
13:59 USA/tendens: Afventende Wall Street før jobtal - regnskabsnyt løfter Lululemon og HP
13:41 Tidlig julegave fra Danske Bank: Udbetaler udbytte fra salg i Norge
13:26 Softwareselskabet Docusign går grøn dag i møde efter opløftende regnskab
13:16 Europa/middag: Britisk forsikringshandel sender aktie i front i afventende middagshandel
13:06 SP Group dropper produktion i Kvistgård og vil opsige medarbejdere