December 9, 2013 - JPY weakened by approximately one percent vs. USD overnight. Japanese Q3 GDP fell short of expectations at an annualized 1.1 percent. PM Abe is focused on raising wages as he seeks to deliver on his promise of structural reform in Japan’s ossified labor market practices. Riskier currencies such as the Mexican Peso and Thai Baht gained on reforms; the Mexican government will end Pemex’s monopoly on oil; Thailand’s PM Shinawatra will dissolve parliament, hoping to calm protests. AUD and CAD fell due to concerns that US growth will outpace growth in these countries.
Overnight Range for Major Currency Pairs
|USD:||Household change in net worth||5:00pm|
|GBP:||BoE’s Carney speaks||5:15pm|
|NZD:||Card spending retail||9:45pm (Sunday)|
|JPY:||BSI large all industry, manufacturing||11:50pm|
|CNY:||New Yuan loans, aggregate financing||12:00am|
"Overnight range" refers to time frame beginning 5:00pm PST of the previous day to 7:30am PST of the current day, or from 9:00pm PST on Sundays. If you have any questions or would like to contact Bridge Bank, please email us at firstname.lastname@example.org