Being Haruhiko Kuroda

28 April, 2016

Someone, somewhere must be thinking of a film titled “Being Haruhiko Kuroda”. The crux of it will be a central bank governor who brings in easing measures and sees the currency rise (within 3 days to be exact). He also sees the currency rise when he does nothing. The yen is up over 3% against the US dollar in the wake of the BoJ’s non-decision on policy. This is a substantial move, firstly in light of the split in the market on whether the BoJ was going to introduce new measures. Secondly, just on the basis that even if new policies were introduced, their effectiveness both on the economy and also the yen would have been highly questionable. So the story in Japan remains pretty much unchanged from the back-story of the past two decades; deflation and policy ineffectiveness. Overnight, the latest data on inflation showed the headline rate falling below the zero level, with core inflation also weaker than expected at -0.3% YoY. Talking of policy, the Fed kept the forward guidance unchanged in its policy statement yesterday, with only minor changes to its current description of the economy. The dollar was pretty much unchanged as a result. Elsewhere, the kiwi is up nearly 2% after the RBNZ kept policy on hold after their policy decision. That said, the statement indicated that “further policy easing may be required” which is not a surprise given that inflation continues to run below target.

For today, there is nothing on the data agenda likely to upset markets. Equities remain focused on the earnings season in the US and although there have been some headline disappointments, overall results have been beating expectations. The weaker dollar has played a part in this, reversing the strength of the past year. Sterling remains one to watch, holding below the 1.4668 on cable which is the key level to watch for a more significant break higher. Brexit concerns remain, but the market currently appears more relaxed.


Source link  
Profit-taking after big sell-off

There is a demand for profit-taking in the markets after powerful movements at the end of last week and a very aggressive trading start...

Hot August for currency markets

This August seems hot. Not only temperature but also currency market volatility is rising. The period of active vacations, which is accompanied by a decrease in volumes...

Dollar is close to its important levels

The demand for dollar, provoked by the fears of new US sanctions against a number of countries and expanding trade conflict with China push the American currency close...


Trump raises stakes in the trade war

Two opposite trends prevail in the global markets. Strong reporting of companies, including Apple indicators supports the demand in world...

USD grows on high GDP expectations

The single currency is traded near weekly lows against the dollar, getting under pressure after maintaining the soft tone of the ECB during the regular meeting...

Facebook failure obscured optimism

Yesterday the markets enjoyed a rare portion of good news on international trade. Trump and Juncker agreed not to introduce new tariffs for the period of negotiations...


Trump tosses dollar from highs

The dollar remained under pressure after the Trump's criticism about the strengthening of the national currency. Despite doubts that the influence of the president...

Oil hits 3-month lows

On Monday, the dynamics of oil was in the spotlight on a combination of negative factors by both the potential demand and the supply part. Asian markets...

Fed Monetary Policy Report to be released

This report is release twice a year and provides an insight into the conduct of monetary policy and economic developments and prospects for the future for the...


In the past 24 hours Bitcoin has gained 1.22% and reached $6472.61866168. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -1.3466% and is now at $1.138. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -5.71% and is now at $304.376274651. 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
1easyMarketseasyMarkets89%
2FXTMFXTM87%
3HYCMHYCM85%
4FxProFxPro80%
5FIBO GroupFIBO Group78%
6FXCMFXCM73%
7AvaTradeAvaTrade68%
8HotForexHotForex67%
9Alfa-ForexAlfa-Forex66%
10XMXM66%
  


Share: