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- European session review: JPY strengthens as worries about further escalation in U.S.-China tensions fuel demand for safe havens
European session review: JPY strengthens as worries about further escalation in U.S.-China tensions fuel demand for safe havens
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 08:00 | Eurozone | Private Loans, Y/Y | April | 3.4% | 3% | |
| 08:00 | Eurozone | M3 money supply, adjusted y/y | April | 7.5% | 7.8% | 8.3% |
| 09:00 | Eurozone | Harmonized CPI, Y/Y | May | 0.3% | 0.1% | 0.1% |
| 09:00 | Eurozone | Harmonized CPI ex EFAT, Y/Y | May | 0.9% | 0.8% | 0.9% |
JPY rose against most other major currencies in the European session on Friday as investors were awaiting the U.S. president Donald Trump's response to China's Hong Kong security bill.
Trump said on Thursday that he would hold a press conference about China on Friday. Media report that the president can announce sanctions on Chinese officials over advancement of new national security laws for Hong Kong. It is expected that Trump's statement could dramatically heighten the already simmering tensions between Washington and Beijing.
Hong Kong's government, meanwhile, urged the U.S. not to withdraw its special status, arguing it would harm both economies. "Any sanctions are a double-edged sword that will not only harm the interests of Hong Kong but also significantly those of the U.S.," Hong Kong's government stated late on Thursday.
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