Here’s what you need to know to trade today Friday September 22:
The Japanese Yen struggles to find demand on Friday as markets evaluate the Bank of Japan’s (BoJ) monetary policy announcement. Later, S&P Global will release preliminary September surveys of the Manufacturing and services PMIs for the euro zone, the United Kingdom and the United States. Canadian retail sales and comments from central bankers will also be the focus of market participants heading into the weekend.
After the September meeting, The BoJ did not modify the parameters of its monetary policy, maintaining the reference rate at -0.1% and the ten-year Japanese State bond yield target at 0%. Regarding the outlook for monetary policy, “We still cannot identify which variable would lead to the achievement of 2% inflation and the end of the negative interest rate policy.“, declared Kazuo Ueda, Governor of the BoJ, in the press conference after the meeting. He explained that a policy change could only be considered when achieving 2% inflation is in sight. USD/JPY extended its recovery after the BoJ event and is now trading at its highest level since November 2022, near 148.50.
Quote of the Japanese Yen today
Below is the percentage evolution of the Japanese Yen (JPY) against the main currencies today.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.37% | 0.30% | 0.04% | -0.17% | 0.40% | -0.09% | 0.15% | |
| EUR | -0.37% | -0.08% | -0.36% | -0.55% | 0.07% | -0.45% | -0.21% | |
| GBP | -0.30% | 0.07% | -0.26% | -0.46% | 0.13% | -0.38% | -0.11% | |
| CAD | -0.04% | 0.34% | 0.27% | -0.20% | 0.41% | -0.12% | 0.13% | |
| AUD | 0.16% | 0.54% | 0.47% | 0.20% | 0.62% | 0.08% | 0.33% | |
| JPY | -0.45% | -0.08% | -0.15% | -0.43% | -0.62% | -0.50% | -0.24% | |
| NZD | 0.07% | 0.45% | 0.38% | 0.11% | -0.09% | 0.47% | 0.26% | |
| CHF | -0.20% | 0.19% | 0.12% | -0.17% | -0.36% | 0.21% | -0.27% |
The heat map shows the percentage changes of the major currencies against each other. The base currency is chosen in the left column, while the quote currency is chosen in the top row. For example, if you choose the euro in the left column and scroll down the horizontal line to the Japanese yen, the percentage change that appears in the box will represent EUR (base)/JPY (quote).
On Thursday, the pair GBP/USD fell below 1.2300 for the first time since March, after the Bank of England was contrary to market expectations of a 25 basis point rate hike and leaving the interest rate unchanged at 5.25%. Early on Friday, UK data revealed that retail sales fell 1.4% year-on-year in August. The pair remains under bearish pressure early on Friday and is trading slightly above 1.2250.
Data from Australia showed the S&P Global manufacturing PMI fell to 48.2 from 49.6. On a positive note, the services PMI improved to 50.5 from 47.8, pointing to an expansion in service sector business activity. The pair AUD/USD rose slightly after this data and stabilized above 0.6400.
He EUR/USD It closed virtually unchanged on Thursday and extended its sideways trend near 1.0650 early on Friday. Germany’s manufacturing PMI improved to 39.8 points in August and the services PMI rose to 49.8 points. Although these data exceeded market expectations, the Euro failed to take advantage of them.
The price of Gold It collapsed on Thursday and fell below $1,920. Early on Friday, XAU/USD gained recovery momentum and rose towards $1,930, supported by the decline seen in the 10-year US Treasury yield.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
