英镑/日元 (GBPJPY) 加自选

日本计划将2025年超长日本国债发行量削减3.2万亿日元。日本将削减40年期债券的发行量，每次拍卖减少1000亿日元。日本将在2025/2026年的原计划基础上削减20年期债券的销售1.8吨日元。

Japan plans to cut 2025 super-long JGB issuance by 3.2T yen.Japan to cut 40 yr bond issuance by 100b yen per auction. Japan to cut sales of 20 year bonds by 1.8t yen from original plan for 2025/2026.

2025年5月，英国公共部门净借款（不包括公共部门银行）增至177亿英镑，略高于一年前的170亿英镑，超过了市场预期的171亿英镑。公共部门总支出比一年前增加了64亿英镑，这是由于公共服务和福利支出增加，部分被债务利息减少7亿英镑所抵消。与此同时，总收入增长了57亿英镑，因为中央政府税收收入的增加得到了国家保险缴款增加18亿英镑的支持，部分原因是上个月引入了更高的雇主缴款率。截至5月的财政年度借款达到377亿英镑，比2024年同期高出16亿英镑，是4月至5月有史以来第三高的借款总额。最后，截至5月底，公共部门净债务（不包括公共部门银行）估计为GDP的96.4%。

Public sector net borrowing (excluding public sector banks) in the UK rose to £17.7 billion in May 2025, slightly above £17.0 billion a year earlier and exceeding market expectations of £17.1 billion. Total public sector spending increased by £6.4 billion from a year ago, driven by higher spending on public services and benefits, partially offset by a £0.7 billion reduction in debt interest. Meanwhile, total receipts grew by £5.7 billion, as the rise in central government tax receipts was supported by a £1.8 billion increase in national insurance contributions, partly due to the higher employer contribution rate introduced last month. Borrowing for the financial year to May, reached £37.7 billion, £1.6 billion higher than the same period in 2024 and the third-highest April-May total on record. Lastly, public sector net debt, excluding public sector banks, was estimated at 96.4% of GDP at the end of May.

2025年5月，英国零售额环比下降2.7%，降幅大于预期的0.5%，此前4月份上调了1.3%。这是自2023年12月以来最大的月度跌幅，主要原因是超市销售额减少导致食品店销售额下降5%，这是自2021年5月以来的最大跌幅。零售商指出，通货膨胀、消费者支出疲软以及烟酒产品销量下降是关键因素。非食品商店的销售额也下降了1.4%，原因是服装和家居用品商店的销售疲软，包括五金和油漆零售商。据零售商称，受今年早些时候有利天气的帮助，客流量减少和家居装修项目提前完成，导致5月份销售疲软。不包括燃料，零售额比上月下降2.8%。按年度计算，销售额下降了1.3%，低于1.7%的增长预测，这是自2024年4月以来最大的年度跌幅。

Retail sales in the UK dropped by 2.7% month-over-month in May 2025, a sharper decline than the expected 0.5% fall, following an upwardly revised 1.3% increase in April. This was the steepest monthly drop since December 2023, driven largely by a 5% fall in food store sales—the biggest decline since May 2021—due to reduced supermarket sales. Retailers cited inflation, weaker consumer spending, and lower sales of alcohol and tobacco products as key factors. Non-food store sales volumes also fell by 1.4%, attributed to weaker sales in clothing and household goods stores, including hardware and paint retailers. According to retailers, reduced foot traffic and the early completion of home improvement projects—helped by favorable weather earlier in the year—contributed to weaker sales in May. Excluding fuel, retail sales declined 2.8% from the previous month. On an annual basis, sales dropped 1.3%, missing forecasts of a 1.7% increase and marking the largest annual fall since April 2024.

尽管日本CPI通胀数据强劲，但欧元/日元仍上涨至167.50附近。周五欧洲早盘，欧元/日元交叉盘吸引了一些买家至167.50左右。日本央行（BoJ）下一次加息时间的不确定性给日元（JPY）带来了压力。

EUR/JPY extends upside to near 167.50 despite strong Japanese CPI inflation data .The EUR/JPY cross attracts some buyers to around 167.50 during the early European session on Friday. The uncertainty over the timing of the next Bank of Japan (BoJ) rate hike weighs on the Japanese Yen (JPY).