S&P 500 — US Large Cap Index
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Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
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Hang Seng — Hong Kong Index
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TSX Composite — Canada Index
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STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
- EUR/JPY rises as the Japanese Yen weakens after mixed Tokyo inflation data.
- Tokyo CPI rose 1.5% YoY in April; core CPI also 1.5%, missing the 1.8% forecast.
- The ECB kept the deposit rate at 2% despite rising Eurozone inflation driven by the Iran conflict.
EUR/JPY gains ground after registering 1.88% losses in the previous day, trading around 184.40 during the Asian hours on Friday. The currency cross advances as the Japanese Yen (JPY) weakens following mixed Tokyo inflation data.
Japan’s Statistics Bureau reported Friday that Tokyo’s headline Consumer Price Index (CPI) rose 1.5% year-over-year (YoY) in April, up from 1.4% prior. Core CPI (excluding fresh food) also increased 1.5% YoY, missing the 1.8% forecast and down from 1.7% previously. Meanwhile, CPI excluding fresh food and energy eased to 1.5% from 1.7%.
The JPY found some support against major peers after suspected intervention by Tokyo, which came hours after officials issued a “final” warning against excessive currency selling. Although the Finance Ministry has not confirmed action, the sharp market move led traders to attribute it to government support. Investors are now weighing the chances of further intervention, as authorities often act in multiple rounds.
Japan’s top FX official, Vice Finance Minister for International Affairs Atsushi Mimura, declined to comment on intervention or crude oil futures, but noted ongoing close communication with the US on currency matters.
The Euro (EUR) also gains support after the European Central Bank (ECB) left interest rates unchanged at its April meeting. The governing council kept the deposit rate at 2% despite rising Eurozone inflation amid the Iran conflict, stating that while the outlook remains broadly unchanged, upside risks to inflation and downside risks to growth have increased.
