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Japanese Stocks, USDJPY Tumble On 'Good' Data As China's Offshore Yuan Strengthens

Tyler Durden's picture




 

The surge in the USDollar today after The FOMC's 'hawkish' statement has prompted strength in the Offshore Yuan, narrowing once again the spread to Onshore Yuan. Another CNY10 billion cash injection hasn't done much for Chinese stocks or liquidity markets however. After better than expected Japanese industrial production however USDJPY plunged (i.e. no imminent BoJ easing) and that dragged Nikkei 225 over 200 points lower (erasing all the FOMC gains).

 

Offshore Yuan strengthened notably (despite the USD strength against the majors) narrowing the spread to onshore yuan...

 

As The Dollar is losing steam quickly against Asian/EM FX...

 

In another sign of China's pullback, Aussie new home sales crashed 4.0% MoM - the largest drop since July 2014.

And Aussie Miners have been tumbling all week...

 

But it is Japan that got interesting...

Japanese markets opened with a disappointingly better than expected print for industrial production...

  • *JAPAN SEPT. OUTPUT RISES 1% M/M; EST. -0.6%

Which immediately knocked 30 pips off USDJPY

 

 

And Japanese stocks have tumbled - giving up all the FOMC Statement gains...

 

Good news is super bad news in Japan.

 

Charts: Bloomberg

 

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Wed, 10/28/2015 - 21:37 | 6724469 nmewn
nmewn's picture

The elites know they've lost the game already when the plebes won't even comment on an "investment" thread. Now they're only eyeballing each other, who will blink first?

The game is afoot! ;-)

Wed, 10/28/2015 - 22:02 | 6724542 scintillator9
scintillator9's picture

Sort of like the end of a game of Monopoly?

Wed, 10/28/2015 - 23:42 | 6724793 Implied Violins
Implied Violins's picture

At least the 'Yawn' is aptly named. The only problem with it is once someone has one, anyone watching reflexively gets them too.

Thu, 10/29/2015 - 03:01 | 6725042 hungarianboy
hungarianboy's picture

The wealthy already know they're fucked. Draining so much money out of the pocket of the hard workers and traders one day there will be anarchy all over the world, from new zeeland to the US and there will be no place to hide. I hope I am wrong but look at all the vague words from central bankers, the manipulation of stocks and FX. Just crazy. Things are upside down.

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