Results for 'BoJ'
54 articles with this tag name
Updated Jun 11, 2013 12:14:39 AM
The BoJ didn’t announce anything new at its policy meeting, electing not to expand EFT, J-Reit purchases or alter funding terms. The inaction was largely expected, but there was some lingering hope that the bank may take further action, especially regarding extending fixed rate operations in order to ease bond market volatility, which led to a push towards the yen. The option on the table was to increase the maximum length of loans to two
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Updated Jun 10, 2013 6:20:45 PM
The Australian dollar has had a terrible start to the week, after a sell-off that was sparked by disappointing Chinese data sent the commodity currency lower across the board. AUDJPY only just managed to hold above a critical psychological level around 90.00. Chinese data is starting to make a habit of disappointing the market, which isn’t good news for the Aussie. China’s imports unexpectedly fell 0.3% y/y in May, while exports grew by a
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Updated Jun 7, 2013 12:37:25 AM
CADJPY fell victim to a recent spout of risk-off sentiment and, indirectly, a push towards the US dollar. Overnight, commodity currencies were lifted by an unwinding of USD positions and better than expected PMI data (Ivey PMI increased to 63.1 from 52.2, beating a consensus estimate of 56.0). Yet, this was matched against a broad push towards the yen. In the end the drive towards JPY proved to be stronger than a rally in CAD.
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Updated May 28, 2013 12:47:25 AM
A drive towards USD and away from the yen resulted in big moves across the FX board. Investors flocked to the US dollar early in the Asia session, as only key support/resistance areas in the majors prevented possible further gains/losses. AUDUSD tested a support zone around 0.9580/90 (lowest level since October 2011), before pushing higher later in the session. EURUSD and NZDUSD were sent to their own respective support zones, before also retracing later in
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Updated May 26, 2013 6:24:14 PM
The aussie dollar has been suffering heavily on the back of broad USD strength and specific aussie weakness. This combined with JPY strength last week to create the perfect cocktail for AUDJPY weakness. The pair punched through triangle resistance, which also happened to correspond with a break of a psychological support zone around 100 (see chart). Price action has also dipped below the pair’s 100day SMA, but we are still waiting for a confirmed
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Updated May 22, 2013 1:09:38 AM
The Bank of Japan elected not to adjust its current easing plans. Instead, the bank retained its commitment to its plan announced in April to increase the supply of money in the economy by 60-70 trillion a year. At the same time the bank upgraded its economic assessment of Japan. This was all expected and fairly mundane, the market was really looking for guidance on how the BoJ plans to address the threat of rising
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Updated May 21, 2013 3:00:00 PM
The Bank of Japan’s policy meeting will conclude tonight and we do not anticipate any significant changes to current policy as aggressive measures were taken early last month at Kuroda’s inaugural meeting. The BoJ is likely to hold for now as it assesses the impact of recent action as it filters through to markets and the economy. Therefore, the focus will be placed on the tone of the statement which has the potential to be
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Updated 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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Updated 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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Updated 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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