Exchange rate: Tokyo 12:00 PM (Dollar weak): There is no change in positions held overnight up to the previous day

7:00 AM – 12:00 PM		2024/9/4
	OPEN	LAST	CHANGE
USD/JPY	145.48	145.44	▲ 4
EUR/USD	1.1044	1.1052	△ 8
GBP/USD	1.3116	1.3109	▲ 7
AUD/USD	0.6711	0.6702	▲ 9
EUR/JPY	160.67	160.77	△ 10
GBP/JPY	190.81	190.67	▲ 14
AUD/JPY	97.63	97.48	▲ 15

■ Position Changes, Signals — September 4 (Wednesday)

・Tokyo morning slightly weaker dollar.

・Throughout the day, the dollar is little weaker.

・Daily balance unchanged from overnight positions prior day.

・Against the dollar in order of strength: euro, yen, Aussie, pound (daytime basis).

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・U.S. Treasuries: rates down (bull flattening) at the close on the 3rd

US02yr 3.863(-0.060）

US05yr 3.639(-0.076）

US10yr 3.833(-0.086）

・Japanese government bonds: rates rising (bear flattening)

JP02yr 0.387（+0.015）

JP05yr 0.531（+0.015）

JP10yr 0.926（+0.012）

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■ Tokyo Market: USD/JPY spot volume (9/2)

3,444 (million dollars)

10-day moving average 4,548

Recent 10-day high 5,790 (8/30)

Recent 10-day low 3,444 (9/2)

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■ Major economic indicators (US emphasis), interest rate decisions, events, news, etc.

10:30 Australia Q2 GDP (GDP, expected: QoQ 0.3% / YoY 1.0%)

10:45 Caixin China Services PMI (PMI, expected: 51.8)

21:30 July US Balance of Trade (expected: a deficit of $79.0 billion)

23:00 July US JOLTS Job Openings (expected: 8.10 million)

23:00 July US Durable Goods New Orders (expected: +4.7% mom)

27:00 Beige Book

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・Australia Q2 GDP QoQ △0.2% (previous △0.2%)

・Caixin China Services PMI 51.6 (previous 52.1)

・Chief Cabinet Secretary Hayashi

“We will manage fiscal and economic policy in coordination with the Bank of Japan.”

If there is a change in the Day-Night balance leading to new positions, we will conduct a final check before NY close and move the new position into an overnight position, while settling the initial position. If a new Japanese-Chinese position is canceled midway, the initial position remains. Therefore, when a new position arises due to a change in the Day-Night balance, it will be a pair with the initial position, and upon cancellation of this new position, a potential loss may occur.

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