Yen falls after BOJ decision delay; European stock futures climb

The yen fell against the dollar after the Bank of Japan delayed its bond buying decision, while European stock futures rose. Asian stocks dropped due to losses in China and Hong Kong. Japanese stocks, however, rallied with the Topix Index up 0.9%.

The Bank of Japan will decide on bond purchases in July, maintaining the rate between 0% and 0.1%. Japanese bond futures surged. Polka Mishra from Javelin Wealth Management sees long-term strength in Japanese equities.

 

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In Europe, Euro Stoxx 50 futures rose 0.3% despite a challenging week, with the euro holding steady. MSCI’s Asia Pacific index fell due to losses in Australia and China, marking the third weekly loss in four for Asian equities.

US stock futures gained slightly after the S&P 500 hit a record high. The dollar strengthened and Treasury yields rose. The US producer price index fell, hinting at easing inflation, which could lead to Fed rate cuts later this year.

In China, a 50-year government bond auction saw strong demand, with yields lower than expected.