Results for 'JPY'
102 articles with this tag name
Updated May 24, 2013 12:18:55 AM
Up by the stairs, down by the elevator. Yesterday’s equity sell-off in Japan highlights the somewhat shaky foundations that this year’s equity rally has been built upon. Optimism is contagious, but pessimism is arguably more infectious. Shortly after hitting a resistance zone around 16,000 the Nikkei 225 lost the most ground in one day since the tragic earthquake of 2011, plummeting over 7.0% in yesterday’s session. But there wasn’t one overriding cause of the sell-off.
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Updated May 23, 2013 11:00:00 AM
The Japanese yen is the big mover today in the G10 space after reports showing that Japanese investors returned to being net sellers of foreign bonds after 3 weeks as net buyers of overseas debt. Ministry of Finance flow data showed that Japanese investors sold a net ¥804.4B in the week ended May 17 To add to that, the private sector reading of May manufacturing PMI in China surprisingly fell below the 50 threshold with
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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 May 17, 2013 12:12:26 AM
Yesterday’s surprisingly good GDP and better than expected machine orders figures today beg the question, is Abenomics working? Japan’s economy grew at the fastest pace among all G7 countries in Q1. GDP increased 0.9% during the first quarter of this year, compared to an expected 0.7% rise and a revised 0.3% in the prior quarter. Also, machine orders increased 14.2% in March, beating an estimated gain of 3.5%. At face value it certainly looks like
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Updated May 16, 2013 10:20:00 AM
The slew of economic data released this morning out of the US reinforced the need for ongoing Fed stimulus (for now) as reports raised concern regarding both of the Fed’s mandates (price stability and full employment). Consumer prices fell by -0.4% m/m in April which was deeper than the expected -0.3% drop and even lower than the prior month’s decline of -0.2%. This was the first back-to-back decline since 2008 and the April decline was
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Updated May 14, 2013 6:13:48 PM
This pair has been consolidating in a triangle formation since mid-April, after the pair pushed back from its highest level since November 2007. Recently, however, it has been a case of which currency was weaker, resulting in some sideways movement. With AUDUSD below parity and USJPY above 102.00, and both pairs with the ability to push lower and higher respectively, what becomes of AUDJPY? AUDJPY is at key juncture as it approaches a very important
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Updated May 13, 2013 11:40:00 AM
USD/JPY rose above 102 for the first time since 2008. The pair has been in a steep upwards trend channel since September and the recent break above the psychological 100 figure saw a pick up in upside momentum over the past few sessions. Key factors behind the rise in USD/JPY are:
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Updated May 10, 2013 12:39:16 AM
A flood to the USD and away from the yen generated an earthquake in the boarder market. USDJPY punched through 100.00 after better than expected US jobless claims figures caused investors to curb beats on the duration of QE3. From here, we are watching a resistance zone from early-2009 around 101.45 and then another barrier for the pair around 102.85. AUDUSD smashed barriers around 1.0150 and 1.0115, causing investors to cut expectations for further easing
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Updated May 9, 2013 1:30:00 PM
USD/JPY continues to trade within its bullish long term channel and the pair is currently testing above the top of a recent triangle formation. We identified this consolidation pattern earlier this week as a continuation pattern and it appears that USD/JPY may soon approach the significant 100.00 level. 100.00 has been a key technical hurdle to the upside and we maintain our view that a shift of flows from Japanese investors out of the country
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