Could the BoJ hold an unscheduled meeting?

On Wednesday, June 26, Bruegel Senior Fellow Alicia Garcia Herrero shared her views on effective measures to bolster the Yen, saying,

“Bank of Japan to start quantitative tightening, which could support the Yen more than intervention.”

While the BoJ and Japanese government grapple with weakness in the Yen, investor attention will also turn to upcoming US economic data. The stats could affect buyer demand for the US dollar. Labor market stats will be the focal point, which could ease selling pressure on the Yen if there are signs of cooling.

Will the US JOLTs Job Openings Report Raise Bets on a September Fed Rate Cut?

Investors will eye the US JOLTs Job Openings Report with keen interest later in the session on Tuesday.

Economists forecast JOLTs to report job openings to fall from 8.059 million in April to 7.900 million in May.

A significant drop in openings could indicate a weakening labor market. This, in turn, might impact wage growth and disposable income, potentially dampening consumer spending and demand-driven inflation.

Economists also anticipate a slight dip in job quits from 3.507 million to 3.500 million. In uncertain job markets, workers tend to hold on to their current positions, leading to fewer quits.

For perspective, job openings have fallen for four consecutive months to April. May 2023 saw openings at 9.824 million.