Japanese Govt. Bonds tad lower despite wider-than-expected July trade deficit; no significant economic data to watch out
Source: FxWire Pro - Commentary / 16 Aug 2018 01:38:10 America/New_York
Japanese government bonds remained tad lower during late Asian session Thursday after investors have largely shrugged-off the wider-than-expected trade deficit for the month of July. There remains no significant economic data to watch out for the rest of the day.
The yield on the benchmark 10-year JGB note, which moves inversely to its price, slipped 1/2 basis point to 0.100 percent, the yield on the long-term 30-year note steadied at 0.847 percent and the yield on short-term 2-year traded flat at -0.117 percent by 05:20GMT.
A trade deficit of JPY231.2 billion was reported in July, as import growth of 14.6 percent (led by oil imports) outstripped export growth of 3.9 percent y/y. With the flight to safety sentiments likely to prevail today, Asian markets may trade with a nervous tone today.
Meanwhile, the Nikkei 225 index fell 0.10 percent to 22,183.00 by 05:25GMT, while at 05:00GMT, the FxWirePro's Hourly JPY Strength Index remained slightly bullish at 88.70 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex© FxWire Pro 2018. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.