JPY, USD, EUR, CHF flows: JPY the big loser overnight, PMI data of interest

June 23, 2025 6:52 AM UTC

JPY loses ground across the board overnight. Preliminary June PMIs of interest in the absence of escalation of the Middle East conflict

CHF flows: EUR/CHF dips slightly after SNB cut

June 19, 2025 8:10 AM UTC

SNB cuts 25bps as generally expected. Small EUR/CHF dip due to minority view that SNB would cut rates to negative

JPY, SEK flows: JPY soft, SEK has scope to weaken

June 17, 2025 7:08 AM UTC

JPY weakness looks extended, some scope for correction. SEK strength may falter after higher unemployment

USD flows: US-China trade progress fails to impress

June 11, 2025 7:17 PM UTC

Even with a surprisingly subdued CPI to welcome, equities have not been as positive on the US-China trade progress as was Trump, with China’s 6-month limit on rare-earth export licenses suggesting they wish to maintain some leverage. USD weakness has resumed after the post-CPI dip was followed by

EUR, JPY flows: EUR supported by German data, JPY soft

June 6, 2025 6:44 AM UTC

Solid German production and orders data support more positive EUR tone post-ECB. JPY undermined by weak real wages and consumption.

USD, JPY, AUD flows: USD firmer overnight, JPY dips on Ueda, AUD soft

June 3, 2025 6:39 AM UTC

USD firmer in Asia with commodity currencies weaker. JPY dips on Ueda but net impact modest. Rangy trading to persist

JPY, EUR flows: JPY higher on more risk negative tone, EUR edging down

May 30, 2025 6:40 AM UTC

JPY benefiting from weakening risk sentiment, stronger CPI. EUR slipping towards the centre of recent range

EUR, JPY flows: USD firmer early after EUR rally on Monday

May 27, 2025 7:09 AM UTC

EUR gained as tariff threat delayed, but slipping after weak French CPI. JPY under presure

USD, JPY, EUR, AUD, CAD flows: Risk positive tone persists on hopes of US/China trade deal

May 12, 2025 6:59 AM UTC

Reports of progress in US/China trade talks trigger more risk positive moves in equities and FX. 

JPY, AUD flows: USD lower, JPY outperforming

May 6, 2025 6:47 AM UTC

JPY largely reversed the weakness seen late last week, but may now hold near current levels. AUD recovery could extend

USD, JPY flows: USD stronger, JPY weaker on BoJ, Microsoft

May 1, 2025 6:41 AM UTC

The USD is generally stronger helped by positive Microsoft earnings, and the JPY has suffered from the BoJ cut to growth forecasts. But we still favour the JPY medium term

EUR, JPY flows: EUR upside limited by weak EUR data

April 30, 2025 6:29 AM UTC

French GDP rises, but only due to inventory build-up. EUR/USD upside limited by weak Eurozone growth prospects

USD, JPY flows: JPY weaker after UMich data

April 25, 2025 2:23 PM UTC

University of Michigan sentiment data shows further weakness in confidence and further rise in inflation expectations, but moves slightly smaller than expected. JPY correction lower looks near complete

EUR, USD, JPY, CHF, AUD, NOK flows: USD remains under pressure, risk steadier for now

April 14, 2025 7:06 AM UTC

USD still under pressure, risk sentiment stabilising but danger of renewed weakness

USD, JPY flows: JPY surges again on China retaliation

April 4, 2025 11:24 AM UTC

China has announced retaliatory tariffs of 34% triggering general sharp losses in equities and a shift out of riskier currencies to the JPY and CHF

USD, JPY, EUR, AUD flows: Tariffs awaited, markets uncertain

April 2, 2025 6:41 AM UTC

From a big picture perspective US equities still look expensive and tariff increases suggest further downside for equities and USD/JPY. But in the short term the makret may perceive the risks to have been priced in by the 10% decline in the S&P from the highs, so there is a risk of a "buy on the new

JPY, AUD flows: JPY soft AUD strong as risk tone improves

March 18, 2025 7:55 AM UTC

USD/JPY correcting towards 150, AUD/USD threatening 0.64 resistance area

JPY flows: JPY supported by hawkish BoJ and weaker equities

March 13, 2025 7:59 AM UTC

JPY resumes gains as equities slip and Ueda maintains hawkish stance

USD, CAD, EUR, JPY flows: USD recovers as JPY corrects lower

March 12, 2025 7:52 AM UTC

USD recovering modestly in moe neutral risk environment. EUR/JPY back in line with the historic risk premium correlation

JPY flows: JPY continues to make gains

March 10, 2025 11:02 AM UTC

JPY strength continues as yield spreads narrow and equities weaken

USD flows: Mixed US data, JPY could benefit

February 27, 2025 1:44 PM UTC

Mixed Us data but initial claims rise may be most significant. If so, JPY favoured

EUR, JPY flows: EUR cheered by German election, JPY stll firm

February 24, 2025 8:01 AM UTC

German election result seen as positive for German economy and the EUR. Narrowing yield spreads suggest more JPY strength to come