Results for 'BoJ'
47 articles with this tag name
Aktualisiert Apr 30, 2013 1:40:00 PM
The failure of USD/JPY to reach the 100.00 level and doubts that the Bank of Japan policy action is sufficient to reach its 2% inflation target within a 2-year time frame have resulted in a near term correction lower in the pair. Net speculative yen positioning as reported by the CFTC’s Commitment of Traders report showed that net shorts were trimmed by 13,681 to -79,730 with a reduction in gross shorts of 14,187. For now,
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Aktualisiert Apr 26, 2013 1:01:09 AM
In a unanimous decision the BoJ elected to do nothing major at a monetary policy meeting today. In fact, the statement issued by the bank post-meeting was exceedingly short. This may have disappointed some investors looking for further guidance, but it comes after the massive amount of easing measures announced on the back of the bank’s last meeting. Given that the bank already has its hands full implementing prior easing measures and the fact that
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Aktualisiert Apr 24, 2013 12:00:00 AM
The Aussie and the Kiwi were sent in opposite directions following the release of Australian CPI data and the RBNZ’s interest rate decision, respectively. After the events of today, pricing in the interbank market suggests interest rates in Australia may match those in NZ as early as October. In other words, the market is looking for another 50 bps of cuts from the RBA, while the RBNZ holds its cash rate steady at 2.5%. While
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Aktualisiert Apr 22, 2013 3:40:00 PM
USDJPY has been on a torrid advance since the beginning of Q4 2012, as this is when talks began to make the rounds about the favorite to win Japan’s Prime Minister office, Abe, and his rather robust plans to stimulate the economy. Outside of a few brief bumps along the way, USDJPY has not been faced with any major technical headwinds…until now. Key technical levels of resistance: Even though the near-term outlook for USDJPY
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Aktualisiert Apr 12, 2013 1:00:20 AM
In an extremely quiet session USDJPY backed away from 100.00 but the pair may just be lining up for another attempt at this key psychological level. Today’s pullback was largely due to profit taking amidst thin trading conditions, and was matched by price action in JGBs and the Nikkei. Kuroda’s spins the same old tale Kuroda was on the wires again, reiterating his promise to end deflation. The BoJ governor also repeated that the
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Aktualisiert Apr 11, 2013 7:00:00 AM
In a fairly thin week for economic data, the European markets have followed their US counterparts higher today, after the SPX 500 made another record high in trading yesterday. The market is concentrating on one thing: liquidity and lose monetary policy from central banks. Thus, the rise in the Australian unemployment rate to its highest level since 2009 has barely caused the AUD any problems and instead this cross is close to the top of
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Aktualisiert Apr 10, 2013 11:00:00 AM
The Bank of Japan’s JPY 7.5 trillion per month QE programme may be a valiant effort to try and combat deflation in the Japanese economy, but this rapid extension of the monetary base in such an important global economy is having a big effect on capital markets. Below we look at some of the traditional relationships that have broken down recently as the BOJ expands its footprint in the market, and we ask what this
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Aktualisiert Apr 8, 2013 4:05:00 PM
The dollar index1 consolidated higher today as the USD trades mixed against most of the majors. The Japanese yen is the big mover on the day and is currently lower against the USD by -1.73% as the Bank of Japan engages in aggressive easing. IMF head Lagarde voiced support for BoJ action and the USD/JPY rose above the 99.00 figure to trade at its highest level since May 2009. There was no economic data of
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Aktualisiert Apr 4, 2013 7:00:00 PM
“It’s like deja vu all over again” – Yogi Berra It was approximately a month ago, March 7th, when the Bank of Japan & European Central Bank held their meetings within 12-hours of one another. Sure enough, the combination of these two saw EURJPY take flight, which prompted us to update our technical outlook (see update II below). Interestingly, the past 24-hours saw both of these central bank announcements converge again, but this time the
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Aktualisiert Apr 4, 2013 1:00:00 PM
Central banks came to the fore today – the BOJ stunned the market with its aggressive easing, the ECB’s hands remain tied, the BOE stayed on hold and some Fed speakers reinforced the importance of tomorrow’s NFP report. Since central banks are still some of the most powerful forces in the market, it’s worth summing up what their actions mean for the market going forward. ECB: No more tools in the box? The April
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