USD/JPY may rise to 113.00 this week as recent gains in crude oil prices are likely to drive bond yields higher globally, although less sharply for Japan, Citi says. Unlike some other major central banks, the Bank of Japan is widely expected to maintain its ultralow interest rate policy for now. Reflecting the nature of trades driven by crude prices, oil producer Canada's currency has been rising especially sharply against the yen, Citi says. USD/JPY rises to 112.74, its highest level since December 2018, compared with 112.22 late Friday in New York.
Expected Major Events for Monday
06:00/JPN: Sep Preliminary Machine Tool Orders
08:00/ITA: Aug Industrial Production
14:00/US: Sep Employment Trends Index
23:01/UK: Sep BRC-KPMG Retail Sales Monitor
23:50/JPN: Sep Bank Lending
23:50/JPN: Sep Corporate Goods Price Index
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Expected Earnings for Monday
Adamis Pharmaceuticals Corp (ADMP) is expected to report $-0.04 for 2Q.
Educational Development Corp (EDUC) is expected to report for 2Q.
FedEx Corp (FDX) is expected to report.
Fonar Corp (FONR) is expected to report for 4Q.
Perpetua Resources Corp (PPTA.T) is expected to report for 3Q.
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ANALYST RATINGS ACTIONS
There are no actions to report from the last 24 hours.
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
10-11-21 0607ET