Dominic LeBlanc, who is the Canadian official responsible for Canada-US trade, is making a public ap...
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The USD/JPY overnight range was 153.31 - 154.35, Asia is currently trading around {USDJPY Curncy}. USD/JPY has collapsed thanks to the FED checking rates implying should Japan intervene they will be supported . If the market's take is correct this is a big deal but as of yet it looks to have been little more than words, I feel there will need to be real and active intervention and the participation of the FED would need to be key to give it any real probability of success. For the moment the collapse lower has released a pressure valve causing leveraged funds and CTA’s to have to pare back large JPY shorts, but I suspect unless we get something more significant and clarity around FED involvement dips could remain supported and it will eventually turn back up. In today's Asian session, we could continue to see shorter term players and CTA’s continue to reduce, first sell-zone is 155.00 and then 156.00. The price though has moved quickly back toward the long-term support between 152-154 and I suspect buyers could start to return at some point.
Fig 1 : JPY CFTC Data

Source: MNI - Market News/Bloomberg Finance L.P
| 2345GMT | 1000HKT | 1200AEDT | Philippines Exports YoY DECEMBER |
| 2345GMT | 1000HKT | 1200AEDT | Philippines Exports DECEMBER |
| 2345GMT | 1000HKT | 1200AEDT | Philippines Imports YoY DECEMBER |
| 2345GMT | 1000HKT | 1200AEDT | Philippines Imports DECEMBER |
| 0300GMT | 1000HKT | 1200AEDT | Philippines Trade Balance DECEMBER |
| 0330GMT | 1030HKT | 1230AEDT | China Industrial Profits YTD YoY DECEMBER |
| 0330GMT | 1030HKT | 1230AEDT | China Industrial Profits YoY DECEMBER |
| 1000GMT | 1700HKT | 1900AEDT | Taiwan Monitoring Indicator DECEMBER |
| 1030GMT | 1730HKT | 1930AEDT | Hong Kong Exports YoY DECEMBER |
| 1030GMT | 1730HKT | 1930AEDT | Hong Kong Imports YoY DECEMBER |
| 1030GMT | 1730HKT | 1930AEDT | Hong Kong Trade Balance HKD DECEMBER |
source: Bloomberg Finance LP / MNI