{"id":56522,"date":"2023-01-18T18:08:43","date_gmt":"2023-01-18T07:08:43","guid":{"rendered":"https:\/\/icmarkets.eu\/blog\/?p=56522"},"modified":"2025-11-11T19:31:08","modified_gmt":"2025-11-11T08:31:08","slug":"wednesday-18th-january-2023-yen-tumbles-as-boj-stays-course","status":"publish","type":"post","link":"https:\/\/icmarkets.eu\/blog\/fundamental-analysis\/wednesday-18th-january-2023-yen-tumbles-as-boj-stays-course\/","title":{"rendered":"Wednesday 18th January 2023 : Yen tumbles as BOJ stays course"},"content":{"rendered":"<h3><span style=\"font-weight: 400;\">Global Markets:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Asian Stock Markets : Nikkei up 2.51%, Shanghai Composite up 0.04%, Hang Seng up 0.07%, ASX up 0.10%<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Commodities : Gold at $1899.65 (-0.54%), Silver at $24.08 (+0.03%), Brent Oil at $86.66 (+0.86%), WTI Oil at $81.20 (+0.93%)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rates : US 10-year yield at 3.483, UK 10-year yield at 3.360, Germany 10-year yield at 2.080<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">News &amp; Data:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CAD) Common CPI y\/y 6.60% vs 6.60% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) Empire State Manufacturing Index -32.9 vs -8.7 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CAD) Trimmed CPI y\/y 5.30% vs 5.20% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CAD) Median CPI y\/y 5.00% vs 4.90% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CAD) CPI m\/m -0.60% vs -0.60% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(EUR) German ZEW Economic Sentiment 16.9 vs -15 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(GBP) Average Earnings Index 3m\/y 6.40% vs 6.20% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(GBP) Claimant Count Change 19.7K vs 19.8K expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CNY) GDP q\/y 2.90% vs 1.60% expected<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Markets Update:<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Asian stock markets are trading mostly higher on Wednesday, despite the broadly negative cues from Wall Street overnight, with traders cautiously assessing recent economic data from across the globe and speculating about the policy stance of the Bank of Japan, which is expected to further shift away from its decade-long ultra-loose monetary policy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Japanese stock market is notably higher on Wednesday, as traders are cautious amid speculation the Bank of Japan might exit from its decade-long ultra-loose monetary policy on Wednesday. The Australian stock market is trading modestly higher in choppy trading on Wednesday, aided by gains in energy firms on firmer oil prices and technology stocks. Meanwhile, miners and financial stocks mostly declined. China&#8217;s blue chips dipped 0.2%, while Hong Kong&#8217;s Hang Seng Index was 0.1% lower.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The dollar index, which measures the safe-haven dollar against six peers, rose 0.4% at 102.85. It has been undermined lately by falling U.S. bond yields as markets wager the Federal Reserve can be less aggressive in hiking rates. Crude oil futures settled higher on Tuesday on expectations of a jump in demand following better than expected Chinese GDP data.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Upcoming Events:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">07:00 AM GMT &#8211; (GBP) CPI y\/y<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Day 3 &#8211; (All) WEF Annual Meetings<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:30 PM GMT &#8211; (USD) Core PPI m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:30 PM GMT &#8211; (USD) Core Retail Sales m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:30 PM GMT &#8211; (USD) PPI m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:30 PM GMT &#8211; (USD) Retail Sales m\/m<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 2.51%, Shanghai Composite [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":62731,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[196,215,339],"tags":[],"class_list":["post-56522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fundamental-analysis","category-market-analysis","category-recent-posts"],"_links":{"self":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/56522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/comments?post=56522"}],"version-history":[{"count":1,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/56522\/revisions"}],"predecessor-version":[{"id":56524,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/56522\/revisions\/56524"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/media\/62731"}],"wp:attachment":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/media?parent=56522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/categories?post=56522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/tags?post=56522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}