The latest Market Talks covering FX and Fixed Income. Published exclusively on Dow Jones Newswires throughout the day.
1939 ET - Japanese stocks may fall on possible profit-taking following three straight sessions of gains on the benchmark index. Domestic technology names may also be weighed by Wednesday's pullback in shares of chip makers on the Nasdaq Composite. Nikkei futures opened 965 points lower at 69700 on the SGX. The dollar is at 162.55 yen versus Y162.60 late Wednesday in New York. The Nikkei Stock Average closed 0.6% higher at 70474.96 on Wednesday. (ronnie.harui@wsj.com)
1833 ET - Macquarie is braced for fresh intervention to shore up the yen, but perhaps not until it falls to 165 against the dollar. It also thinks any intervention in currency markets might wait until today's U.S. non-farm payrolls data is out of way. "A soft payrolls outcome could present ideal conditions to give intervention maximum bang for its buck," Macquarie says. "Conversely, intervening today would be a waste of bullets if a strong payrolls report leads to broad-based U.S. dollar strength afterwards." The yen fell to a fresh 40-year low against the dollar in Asia on Wednesday. It was recently at 162.53. (david.winning@wsj.com; @dwinningWSJ)
1646 ET - Purchasing managers indexes for Mexico were mostly higher in June, likely lifted by the country's co-hosting the soccer World Cup along with the U.S. and Canada. S&P Global's manufacturing index rose to 51.3 from 49.6 in May, moving into expansionary territory for the first time in 10 months. The Bank of Mexico/Inegi PMI rose 0.8 point to 50.2, while the Mexican Institute of Finance Executives' index fell to 47.3 from 48.3. "The FIFA World Cup was identified by companies as a key factor behind a pick-up in sales growth, which curbed the drop in production volumes," S&P Global says. With several comments linking demand growth to the World Cup, however, "there is a high chance that the recovery will be short-lived." (anthony.harrup@wsj.com)
1641 ET - Remittances to Mexico rose 3.8% in May from the year-earlier month to $5.61 billion, the Bank of Mexico reports, bringing transfers for the first five months to $25.29 billion, a 2.8% year-on-year increase. A rising labor participation rate among Mexican migrants in the U.S. since September coincides with a recovery in remittances, Juan José Li Ng of BBVA says in a note. The participation rate fell from April to August of last year, which was the period of sharpest declines in remittances, he adds. Unemployment among Mexico migrants in the U.S. is trending down, "which is favorable for the economy of these households and for their relatives who receive remittances in Mexico." (anthony.harrup@wsj.com)
1602 ET - Treasurys fell off sending yields higher as investors digest a busy day of U.S. economic indicators and comments from Fed chairman Kevin Warsh ahead of tomorrow's payrolls report. Treasurys pared overnight gains after Warsh suggested that business investment in AI could expand the productive capacity of the economy. Warsh declined to say whether the Fed would need to consider raising rates later this month, but said his first weeks in the job have seen risks of higher inflation retreat. ADP reported that private payroll growth in June fell short of expectations with 98,000 private-sector jobs added. Economists polled by the WSJ expect 115,000 jobs to be added in the BLS employment situation report tomorrow. The 10-year yield rose 0.054 percentage point to 4.474%. The two-year yield rose 0.026pp to 4.164%. (jessica.coacci@wsj.com)
1501 ET - New car buyers are lenghtening their loans at record levels, an analysis from Edmunds finds. During 2Q, 36.5% of new car buyers took a loan of 73 months or longer, compared with 27.3% a decade earlier. For loans of 84 months or longer, it was 23.9%, another record. This dynamic lowers monthly payments, but can hook buyers into much higher interest payments over the course of their loans, Edmunds Director of Insights Ivan Drury says: "Stretching out the term to be able to swallow a higher-priced vehicle guarantees you'll be building equity at a snail's pace, leaving you highly vulnerable to falling underwater when it's time to trade in." (elias.schisgall@wsj.com)
1459 ET - Gold and silver futures have a positive start to July, with both up for the second consecutive session. Front-month gold settles with a gain of 1.1% to $4,068.30/per troy ounce, while silver finishes up 1% to $60.085/per troy ounce. In a note, analysts with the World Gold Council say that they expect gold will "continue to serve as a barometer of global macroeconomic conditions." They see gold trading on either side of $4,100 a troy ounce, depending on what happens with the U.S.-Iran conflict, and how many rate hikes, if any, world central banks may introduce in an effort to curb inflation. (kirk.maltais@wsj.com)
1449 ET - Economists polled in June by the Bank of Mexico lowered their year-end inflation estimates, while leaving growth forecasts intact. Inflation is expected to end the year at 4.2%, down from 4.35% in the May survey. The median core CPI forecast slipped to 4.18% from 4.22%. Estimates for GDP growth are unchanged at 1.1% for this year and 1.8% for 2027. The Bank of Mexico is seen keeping its benchmark interest rate at the current 6.5% through year-end, much in line with the central bank's latest guidance that it "will be appropriate to maintain the reference rate at its current level. "The central bank's inflation target is 3%. (anthony.harrup@wsj.com)
1445 ET - Longer auto loan terms and record-high monthly average payments of $777 during 2Q indicate that financially pressured new car buyers will face further challenges down the road, according to an Edmunds analysis of new car financing data. "When you see loan terms extending to record lengths, down payments shrinking, and monthly payments hitting all-time highs, you're looking at a clear recipe for long-term financial strain," Edmunds Head of Insights Jessica Caldwell says. "Until we see a major shake-up in automaker incentives, a meaningful drop in interest rates, or a shift toward a more affordable mix of vehicles--none of which appear to be on the horizon--consumers will have to keep walking this financial tightrope."(elias.schisgall@wsj.com)
1251 ET - Privacy coin Zcash, in the midst of a volatile year that saw prices spike near all-time highs, is making advances in insulating itself from being cracked by quantum computing. Research published by CoinDesk, which the firm says was commissioned by a group called GenZcash, says that Zcash has roadmaps for both scaling its chain and making it resistant to quantum computing designed to break confidentiality. "We can have the best of both worlds, a private digital payment network that scales to billions of users by fully leveraging both zero-knowledge and verifiable computation" says Sean Bowe, head of Project Tachyon, which is focused on scaling the Zcash blockchain. Zcash is trading up 3.7% to $414, according to data from LSEG. (kirk.maltais@wsj.com)
1230 ET - Economists have been eyeing whether Fed officials are speaking less since the June FOMC meeting, aligning with chairman Kevin Warsh's strategy of no forward guidance. Fed members have had about 12 public appearances since the meeting, analysts say. BofA Securities says that going back to 2022, the average number of speakers in the two weeks following meetings is about 23. "This may be a sign that FOMC participants are heeding Chair Warsh's desire to speak less," BofA says. TD Securities says the 12 public appearances are below the average of 18 during the same period over the past decade. Analysts say they will continue to track the trend. TD Securities said the summer months typically bring a significant lull in Fed communication. (jessica.coacci@wsj.com)
1220 ET - Gold prices rebound after softer-than-expected jobs data and Federal Reserve Chairman Kevin Warsh not giving any signal as to whether the central bank would consider raising interest rates at its next meeting. In afternoon trading, New York gold futures rise 1.5% to $4,100.60 a troy ounce. According to the CME FedWatch tool, traders are currently pricing in about a 64% chance of an interest-rate hike for September. Bullion is typically seen as a hedge against inflation, though a higher interest-rate environment tends to diminish the nonyielding asset's appeal. "Now it is up to US data to keep those hawkish Fed bets alive, making tomorrow's NFP data a major market event," says Fawad Razaqzada, market analyst at Forex.com. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
July 01, 2026 19:39 ET (23:39 GMT)
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