S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketThe yen continues to weaken as political dynamics add downward pressure ahead of the 8 February election in Japan. MUFG’s Senior Currency Analyst Lloyd Chan suggests that Prime Minister Takaichi’s ruling coalition could secure a majority, which may bolster market expectations for increased government spending. The USD/JPY is retracing back toward the 160.00 handle after a recent fall to the 152.00 level.
Political pressures impact the yen
“The yen continues to soften, with USDJPY retracing back toward the 160.00 handle after falling sharply to the 152.00 level recently. Political dynamics are adding to the downward pressure: ahead of the 8 February election, local media report suggests Prime Minister Takaichi’s ruling coalition could potentially secure a majority in the 465-seat lower house.”
“A solid mandate would likely give the administration greater latitude on fiscal policy, bolstering market expectations for increased government spending.”
