The latest Market Talks covering FX and Fixed Income. Published exclusively on Dow Jones Newswires throughout the day.
2103 ET - Indonesia's central bank is expected to maintain a "hawkish hold" with policy rate at 4.75% through end-2026 as the scope for rate cuts appear limited amid persistent global uncertainties, UOB economists say in a note. Rupiah stability will continue to be supported by optimization of central bank short-term bonds, FX interventions, and tighter regulations, while growth will be supported by credit incentives and payment system upgrades, say Enrico Tanuwidjaja and Vincentius Ming Shen. Inflation, particularly food prices, will be managed in coordination with the government. However, while no immediate rate hikes are signaled, policy adjustments are possible if currency pressures intensify, they add. (yingxian.wong@wsj.com)
2054 ET - Japan's Nikkei Stock Average briefly rises above the 60000 threshold for the first time, led by gains in chip-related stocks, as caution over the U.S.-Iran conflict persists. The Nikkei Stock Average is 0.5% higher at 59865.70 after rising as much as 0.7% earlier to 60013.98. SoftBank Group is up 5.2%, and Renesas Electronics is 6.7% higher. The broader market index Topix is down 0.1% at 3741.63. The dollar is at 159.40 yen, compared with Y159.18 as of Wednesday's Tokyo stock market close. Investors are closely monitoring developments in the Middle East, as mediators attempt to revive the diplomatic process and bring an end to the war in Iran. (kosaku.narioka@wsj.com; @kosakunarioka)
2036 ET - Asian currencies consolidate against the dollar in early trade, but might be weighed down by high U.S.-Iran tensions that could diminish risk appetite. Iran's navy said overnight that it had seized two container ships in the Strait of Hormuz, UOB's Global Economics & Markets Research team says in a research report. This underscores "persistent tensions in the strategically vital waterway, which is now effectively closed," the team says. "Financial markets are likely to remain headline-driven today, with sentiment sensitive to developments in the Middle East and the security of the Strait," the team adds. The dollar is little changed at 159.42 yen and is flat at 1,478.20 won, LSEG data show. (ronnie.harui@wsj.com)
2017 ET - JGBs consolidate in the morning Tokyo session as investors focus on developments in the Middle East. The bond markets continue to find themselves in an uncomfortable holding ground, as they await the U.S. and Iran to come to some semblance of agreement, a member of ING's Economic and Financial Analysis Division says in a note. Meanwhile, JGBs may be supported by the BOJ's planned outright purchases today of five sectors of the market, including sovereign securities with tenors of more than 10 years and up to 25 years. The 10-year JGB yield is unchanged at 2.395%. (ronnie.harui@wsj.com)
1946 ET - Japanese stocks may remain rangebound as caution over the U.S.-Iran conflict continues. Nikkei futures are flat at 59755 on the SGX. The dollar is at 159.47 yen, compared with Y159.18 as of Wednesday's Tokyo stock market close. Investors are closely monitoring developments in the Middle East, as mediators attempt to revive the diplomatic process and bring an end to the war in Iran. The Nikkei Stock Average rose 0.4% to 59585.86 on Wednesday.(kosaku.narioka@wsj.com)
1615 ET - Treasury yields bounce back from early declines and settle roughly unchanged as Iran fires on three ships and President Trump extends the cease-fire, but keeps the U.S. blockade of Iranian ports. Weekly jobless claims are forecast to tick higher to 210,000 from 207,000, in a WSJ poll. April flash manufacturing and services PMI surveys are forecast to change little, to 52.5 and 51.0, respectively. The 10-year yield edges 0.003 percentage point higher to 4.293%. The two-year rises 0.015 p.p. to 3.793%. (paulo.trevisani@wsj.com; @ptrevisani)
1523 ET - Investors are increasingly turning to bitcoin and other major cryptocurrencies as a more stable place to keep money than gold and oil -- both assets that are traditionally seen as safe havens for traders but have been showing higher volatility. "They're not seeing bitcoin like they have before," says Julian Pineda of Forex.com of investor attitudes toward the cryptocurrency. "In the past couple of years, bitcoin has been the main volatile asset." However, the amount of money coming into bitcoin remains only a fraction of what was seen in October 2025, says Pineda -- when bitcoin traded at its all-time of over $126,000. Bitcoin is up 4% to $78,762, according to data from LSEG. (kirk.maltais@wsj.com)
1454 ET - National Bank Financial has revised upward its outlook for inflation in Canada, to a 2.5% average in 2026. But economists at the firm say the Bank of Canada needs to exhibit patience, and therefore hold off on potential interest-rate increases. Higher energy prices stemming from the Middle East conflict are lifting inflation higher. This will benefit national income through Canada's energy sector, NBF says, but that won't be enough to offset weakness in manufacturing and retail. Higher gas prices will exert a drag on consumer spending, the firm says, adding the housing-market downturn is leading to a negative wealth effect. For those reasons, NBF says the BOC should hold its benchmark rate steady. It adds inflation -- excluding food and energy -- remains generally under control. (paul.vieira@wsj.com; @paulvieira)
1257 ET - Inflation in Mexico likely eased in the first two weeks of April, aided by lower electricity costs as summertime subsidies for residential users took effect in some cities. The consumer price index is expected to show an 0.08% rise in the first two weeks of the month, lowering the 12-month rate to 4.5% from 4.55% in the second half of March, according to a WSJ survey of analysts. Core CPI is seen rising 0.17% for an annual rate of 4.26%, down from 4.44% in the second half of March. Statistics institute Inegi is scheduled to report mid-April inflation on Thursday. (anthony.harrup@wsj.com)
1251 ET - Nearly 53,000 U.S. home-sale agreements fell through in March, according to Redfin. That's equal to 13.4% of homes that went under contract that month. There are several reasons home-purchase agreements are falling apart at a higher rate than usual for this time of year. First, it's a buyer's market. There are 600,000 more home sellers than buyers in the U.S. housing market. That gives buyers negotiating power, and it makes it easier for buyers to include contingencies. They may cancel a deal because an issue comes up that they don't want to repair, because they find a house they like better, or because they simply changed their mind. Mortgage rates also jumped in March, and home-sale prices are rising, Redfin says. (chris.wack@wsj.com)
1242 ET - Home sales across the Empire State declined and the median sales price increased in March, the New York State Association of Realtors says. March saw a 5.7% drop in closed sales year-over-year, with pending sales also falling, by 3.3%. There were 12,372 homes listed in March, basically flat from the from 12,380 listings in March 2025, the Association adds. The median sales price for a home in the state rose 3.8%, to $435,000 from $419,000 versus March of last year. (stephen.nakrosis@wsj.com)
1237 ET - A Coinbase Institutional survey says that 75% of institutional investors see bitcoin as undervalued as of March of this year. That's up from 71% in December, according to the firm. As the second quarter of the year progresses, the sentiment around bitcoin and cryptocurrency in general appears to be warming up -- although the volatile situation in the Middle East could derail that sentiment at any time. "We are cautiously optimistic that the macro situation has shifted in a positive direction, which could help many crypto assets form a bottom in the near term and recover later in the quarter," says David Duong of Coinbase Institutional in a note. The firm maintains a "neutral" view for 2Q26, with the fate of the conflict in the Middle East being the main driver. (kirk.maltais@wsj.com)
(END) Dow Jones Newswires
April 22, 2026 21:03 ET (01:03 GMT)
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