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USD/JPY trims losses ahead of Kuroda's presser Omkar Godbole

USD/JPY dropped to 110.54 after the Bank of Japan (BOJ) kept rates unchanged as expected but sounded slightly optimistic about inflation expectations.The central bank said, "inflation expectations are moving sideways" as opposed to previous quarterly report, which took note of weakness inflation  expectations. This change in lan...

09:00 23 January /2018 Forex

ECB meeting to be the focal point for markets this week - ING Sandeep Kanihama

In view of analysts at ING, the ECB meeting will be the focal point for markets this week as ECB officials have been playing ‘good cop, bad cop’ for EUR bulls – with Governing Council member, Villeroy citing FX moves as a source of uncertainty, while Weidmann noted that expectations for a mid-2019 ECB deposit rate hike are realistic.Key Quote...

08:46 23 January /2018 Forex

ECB: Greater reliance on forward guidance? – BBH Sandeep Kanihama

Analysts at BBH thought the market read the record of last month's ECB meeting too hawkishly and the meeting was held prior to the news of the disappointing December CPI.  Key Quotes“With the ECB's purchase plan decided last year through September 2018, it naturally stood to reason that there would be greater reliance on forward guidance to help shape investor ...

08:23 23 January /2018 Forex

Forex Today: Yen pops and drops on BoJ, German ZEW in focus Dhwani Mehta

The US dollar experience a bit of a bounce versus its main competitors in the Asian session, after the reports hit the wires that the US President Trump signed the funding bill, which ended a 3-day US government shutdown. As a result, most majors came under fresh selling pressure while Yen recovered ground somewhat after the BoJ announced its unchanged monetary policy decision.Among other related ...

08:23 23 January /2018 Forex

AUD/JPY rejected at 89.00 for 5th straight day Omkar Godbole

For the fifth straight day, the AUD/JPY has failed to cut through 89.00 levels in a convincing manner.AUD/JPY ran into offers at 89.07 earlier today and fell back to 88.46 levels. The bid tone around the Japanese Yen strengthened after the BOJ kept 08:00 23 January /2018 Forex

Leveraged funds’ GBP long positioning rises to post-Brexit high – Nomura Sandeep Kanihama

According to the CFTC data for the week ended 16 January, leveraged funds increased GBP net longs from 30% to 39%, the highest level since the EU referendum, notes the research team at Nomura. On the other hand, asset managers’ net short position in GBP was reduced from 40% to 33%, they further note.Key QuotesEUR: Leveraged funds’ net long positioning in EUR fell...

07:46 23 January /2018 Forex

ECB Preview: Too early to commit to any explicit end to QE purchases - ING Sandeep Kanihama

Analysts at ING suggest that the name of the game for markets will be reading President Draghi's dovish bluff at this week's ECB meeting (Thu) and their economists see it as too early to be committing to any explicit end to QE purchases.Key Quotes“They don't feel the EUR needs to necessarily sell-off on this; it would presume that investors have been positioning for an ECB policy ...

07:46 23 January /2018 Forex

BoJ Quarterly Report: Inflation likely to continue increasing towards 2% target Dhwani Mehta

The BoJ released its quarterly economic assessment report alongside the policy announcement, with the key headlines found below.Japan core CPI expected +1.4 pct in fy2018/19 vs +1.4 pct projected in October.   Japan core cpi expected +...

06:46 23 January /2018 Forex

USD/JPY drops 30 pips after BOJ keeps rates and price outlook unchanged Omkar Godbole

The Japanese Yen found bids after the Bank of Japan  (BOJ) kept policy rates and price outlook unchanged.The USD/JPY pair hit a low of 110.54 immediately after the decision was out and was last seen trading at 110.68 levels.

06:46 23 January /2018 Forex

BoJ likely to maintain its extremely easy monetary policy in the foreseeable future - HSBC Dhwani Mehta

Analysts at HSBC offer a sneak peek at what to expect from the BoJ policy announcement due out any moment.Key Quotes:“Underlying inflation pressures have been absent so far, despite positive q-o-q growth for seven consecutive quarters. Strong economic activit...

06:23 23 January /2018 Forex

AUD/USD revisits sub-0.80 levels Omkar Godbole

AUD/USD ran into offers at 0.8030 and hit a session low of 0.7992 after having closed above 0.80 yesterday - highest daily close since July.The pullback could be a chart-driven. As seen on the 4-hour chart, AUD has been hitting higher highs and higher lows since Jan. 16, while the RSI created lower highs during the same time fra...

06:23 23 January /2018 Forex

EUR/USD: 1.2275 – a tough nut to crack ahead of German ZEW? Dhwani Mehta

The EUR/USD pair failed once again to chew the offers near 1.2275 region and reversed from there to now trade back in the red zone just ahead of the midpoint of the 1.22 handle.The move lower is mainly driven by resurgent US dollar demand across the board, as the USD bulls regained footing after the 06:00 23 January /2018 Forex

When are the announcements from the BoJ and how could they affect USD/JPY? Omkar Godbole

The Bank of Japan's (BoJ) two-day policy meeting concludes today and the announcement is due at 04:00 GMT. The central bank will also release its quarterly economic report.  The press conference from Bank of Japan Governor Kuroda is scheduled for 06:30 GMT.The central bank is expected to keep rates and yield curve control target unchanged. Also, the 05:46 23 January /2018 Forex

NZD/USD clocks fresh 4-month high of 0.7354 Omkar Godbole

Having built a base around 0.7261 (61.8% Fib R of July-Nov drop) last week, Kiwi jumped to a fresh 4-month high of 0.7354 today.As of writing, the currency pair is trading at 0.7347 levels and looks set to extend gains, courtesy of yesterday's bullish outside day candle, ascending 5-day MA and 10-day MA and broad-based USD weakness. However, the rally contradicts the depressed yield differential. ...

05:00 23 January /2018 Forex

GBP/USD rises above 1.40 for the first since post-Brexit vote Omkar Godbole

GBP/USD clocked a  new post-Brexit vote high of 1.4003 and was last seen trading at 1.3990 levels. As discussed yesterday, the rally looks unjustified if we take into account the widening 10-year UK-US yield spread. Also, the RSI has diverged on 1-hour and 4-hour time frame (has not made news highs along with price), signaling the potential f...

04:23 23 January /2018 Forex

USD/JPY: is 111 territory going to be alarming for BoJ? Ross J Burland

The yen was squaring up ahead of the BoJ in case of a no tightening bias while bulls were capped at 111.23 in NY. USD/JPY is trading at 110.92, down -0.04% on the day, having posted a daily high at 111.01 and low at 110.86.USD/JPY is finding support on the back of the shutdown deal in Washington and the major is buoyed by downside failures of 110.50 with multiple...

04:00 23 January /2018 Forex

AUD/USD - Highest daily close since September Omkar Godbole

Despite the relentless rise in the treasury yields and the overbought conditions, the Aussie dollar closed above 0.80 yesterday - its highest close since September 19. As of writing, the AUD/USD pair is trading at 0.8005 levels and the 10-year US Treasury yield is flatlined at 2.66 percent. Meanwhile, the 2-year yield is trading at 2.07 percent. The 2-year treasu...

03:46 23 January /2018 Forex

Key central bank meetings ahead - UOB Ross J Burland

Analysts at UOB noted the two key Central Banks meeting this week.Key Quotes:"The Bank of Japan (BoJ) on Tuesday is expected to maintain the status quo with its policy rate and 10-year yield target at -0.10% and around 0.0% respectively. Despite a slight uptick in inflation and recent upbeat data releases, price momentum is still below the 2% target rate. The first decision of the year by the Euro...

03:00 23 January /2018 Forex

Event risks coming up? - Westpac Ross J Burland

Analysts at Westpac explained the key event risk for the day ahead.Key Quotes:"The Bank of Japan's January policy meeting will be the centre of attention for markets today.""The latest outlook on the economy is due, and participants will be keen to see if a more confident tone is struck.""We see a material change regarding the stance of policy as highly unlikely.""Also, ZEW invest...

02:00 23 January /2018 Forex

Forex today: dollar weaker against most G10's. Ross J Burland

With a lack of data, apart from Sterling, the FX space was subdued in the main with most participants focused on the upcoming US corporate earnings and the US government shutdown mostly ignored. Earnings continue to pump up equities, while the benchmarks were lifting between 0.3-0.7% to make fresh record highs.Elsewhere, the USD was weaker against most of the G10's while the treasury curve flatten...

01:23 23 January /2018 Forex