{"id":42775,"date":"2023-03-03T05:53:00","date_gmt":"2023-03-03T05:53:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=42775"},"modified":"2023-03-03T13:38:45","modified_gmt":"2023-03-03T13:38:45","slug":"morning-brief-tokyo-cpi-and-fed-speak","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/morning-brief-tokyo-cpi-and-fed-speak\/","title":{"rendered":"Morning Brief &#8211; Tokyo CPI and Fed Speak"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"42775\" class=\"elementor elementor-42775\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-47c7389 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"47c7389\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ee38bc8\" data-id=\"ee38bc8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8798285 elementor-widget elementor-widget-text-editor\" data-id=\"8798285\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The main market movers during the Asian session were the release of Tokyo CPI data and prepared remarks from Fed member Waller. The <a href=\"http:\/\/bit.ly\/2OJjKKR\" target=\"_blank\" rel=\"noopener\">Japanese yen<\/a> failed to react to today\u2019s Tokyo CPI data.<\/p><p>Breaking down the data, the core consumer price index for the Ku-area of Tokyo in Japan rose 3.3% in February 2023 from a year earlier, slowing from a 42-year high of 4.3% logged in January and matching market forecasts.<\/p><p>Tokyo\u2019s core inflation rate, a leading indicator for nationwide price trends, also surpassed the Bank of Japan\u2019s 2% target for the ninth straight month, signalling that upward price movements in the country have not reached their peak yet.<\/p><p>This keeps the central bank under pressure to abandon its yield curve control policy as BOJ Governor Kazuo Ueda steps in. Nationwide core consumer prices rose 4.2% in January from a year ago, accelerating at the fastest pace in 41 years as companies passed on higher costs to household<\/p><p>Markets also looked past prepared remarks from Fed Waller, who said that the \u201c<em>Fed may need to raise rates beyond December&#8217;s &#8216;central tendency&#8217; view of 5.1-5.4% if incoming job and inflation data does not pull back from strong readings for January.<\/em>\u201d<\/p><p>He also stated that \u201c<em>his\u00a0 view will depend on what the data say<\/em>\u201d and \u201c<em>Data last month challenged my view in January that the FOMC was making significant progress in moderating activity and reducing inflation.<\/em>\u201d<\/p><p>On inflation he commented that the \u201c<em>FOMC will do what is needed to reduce\u00a0the inflation to 2%<\/em>\u201d and <em>&#8216;There may be some bumps on that path, but I assure you, the FOMC\u2019s dual mandate objectives will be achieved<\/em>&#8216;.<\/p><p>Any interest comment was that\u00a0 \u201c<em>Recent data indicate we have not made as much progress on inflation as thought\u201d <\/em>and<em> \u201cThat goes for both overall and core inflation.<\/em>\u201d<\/p><p>The market now awaits a host of FED speakers later today who are likely to come out hawkish. Federal Reserve Bank of Dallas President Lorrie Logan<\/p><p>Federal Reserve Bank of Atlanta, President Raphael Bostic, Federal Reserve Board Governor Michelle Bowman, and Federal Reserve Bank of Richmond President Thomas Barkin.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The main market movers during the Asian session were the release of Tokyo CPI data and prepared remarks from Fed member Waller. The Japanese yen failed to react to today\u2019s Tokyo CPI data. Breaking down the data, the core consumer price index for the Ku-area of Tokyo in Japan rose 3.3% in February 2023 from [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":42782,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[80,42,766,270],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Morning Brief - Tokyo CPI and Fed Speak - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/morning-brief-tokyo-cpi-and-fed-speak\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morning Brief - Tokyo CPI and Fed Speak Morning Brief - Tokyo CPI and Fed Speak\" \/>\n<meta property=\"og:description\" content=\"The main market movers during the Asian session were the release of Tokyo CPI data and prepared remarks from Fed member Waller. 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