BoJ going nowhere

15 March, 2016

Monday was characterised by creeping dollar strength, with emerging markets and the dollar bloc (Canada, Australia, New Zealand) losing out the most. Perhaps this was not that surprising as we headed into central bank meetings the BoJ overnight tonight, followed by the US Fed on Wednesday evening. The BoJ made no changes to policy overnight and retains some confidence on the economy, although with plenty of prevailing risks. The scope for further easing remains strong, given that inflation appears further than ever from achieving the 2% level on a sustained basis that was the aim when Japan went all in more than 2 years ago.

The yen has strengthened a touch overnight against the backdrop of a generally firmer dollar, with this most evident against sterling. The UK currency remains vulnerable in a generally more risk averse environment, which we’re seeing this morning as stocks weaken and the oil price weakens below the USD 40bp level. Cable is edging towards the 1.42 level as we enter the European session. The Brexit issue, although 3 months away, remains a weight upon the market, especially for longer-term investors. Note that the Fed begins its two day meeting today, with the results coming tomorrow evening. Before then, we have the release of retail sales and PPI data in the US, where we can expect to see greater focus on the extent to which the US consumer is becoming more cautious against the wider global risks to the US economy.


Source link  
Oil Inventories to Show a Draw

Expectations (Apr) are expected to be released with a prior reading of 16.7. This data has been weakening since a reading of 52.0 was recorded in...

Chances of RBA Rate Hike

NZDUSD bucked the trend overnight, as most other currencies managed to retrace some of their declines against the USD. The pair hit fresh...

Consumer Sentiment Index Close to Higher

US Fed Boston President Rosengren is due to deliver the keynote speech on the economic outlook, at the Greater Boston Chamber’s Economic Outlook Breakfast...


Chinese president soothes worries

With US Producer Prices data on the way this afternoon, and predicted to be largely as expected, the morning session will be dominated by central bankers...

Markets fall after more tariffs proposal

Friday's session is expected to be volatile, with Non-Farm Payrolls (13:30 UK Time) ahead and President Trump’s proposal for an additional $100B...

Korea gets exemption on steel tariffs

The US and South Korea have reached agreement on a Trade deal that comes with the added bonus for South Korea of a permanent exemption from...


EU Publishes List of Tariffs on US Goods

Over the weekend, the EU published a list of tariffs on US products in response to the US tariffs on Steel and Aluminium. The total value of EU tariffs...

Consumer Price Index and Housing Starts

Eurozone Consumer Price Index – Core (YoY) (Feb) will be released. The consensus points to an unchanged value of 1%. Consumer Price Index...

USD Weakens as Risk-Off Returns

Yesterday, the US announced Tariffs on Steel and Aluminium, which prompted an outcry from various global leaders and an acceleration in the...


In the past 24 hours Bitcoin has lost -4.89% and reached $8946.69. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -1.2229% and is now at $1.2229. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 19.51% and is now at $634.421. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets90%
2FXTMFXTM87%
3HYCMHYCM85%
4FxProFxPro84%
5FIBO GroupFIBO Group82%
6FXCMFXCM70%
7XMXM68%
8Fort Financial ServicesFort Financial Services67%
9Alfa-ForexAlfa-Forex66%
10HotForexHotForex66%
  


Share: