Standard Chartered analysts Nicholas Chia and Chong Hoon Park highlight that new Bank of Japan (BoJ) indicators show underlying inflation near or above the 2% target and a positive output gap since Q1 2022, suggesting growth above potential.
USD/KRW rallies on Tuesday, trading around 1,529.70 at the time of writing, up 0.93% on the day after hitting an intraday peak at 1,536.04, its highest level since March 2009.
Annual Harmonized Index of Consumer Prices (HICP) in the Eurozone, as measured by changes in the prices of a representative basket of goods and services in the European Monetary Union, rises at a moderate pace of 2.5% in March, against estimates of 2.7%. In February, the data grew by 1.9%.
MUFG’s Senior Currency Analyst Lee Hardman highlights that the Japanese Yen (JPY) has held recent gains, with USD/JPY dipping below 160.00 as officials step up verbal intervention.
Eurozone Harmonized Index of Consumer Prices (MoM) increased to 1.2% in March from previous 0.6%
NZD/USD extends its losing streak for the sixth successive day, trading around 0.5710 during the European hours on Tuesday. The technical analysis of the daily chart signals a persistent bearish bias as the pair is moving downwards within a descending channel pattern.
Eurozone Core Harmonized Index of Consumer Prices (YoY) came in at 2.3% below forecasts (2.4%) in March
Eurozone Harmonized Index of Consumer Prices (MoM) rose from previous 0.6% to 1.9% in March
Eurozone Core Harmonized Index of Consumer Prices (MoM): 0.8% (March)
Italy Consumer Price Index (MoM) in line with forecasts (0.5%) in March
Italy Consumer Price Index (EU Norm) (MoM) increased to 1.6% in March from previous 0.5%
Italy Consumer Price Index (YoY) rose from previous 1.5% to 1.7% in March
