The Latest in Forex News & Analysis.

BOJ Minutes

By CR | June 20, 2017 8:02 pm | 0 Comments

BOJ Minutes from April Monetary policy meeting is out, here is the bullet point.

  • -Momentum towards price goal not firm enough
  • -One member said stable LT rates show yield curve control is working
  • -Most members: No conflict between JGB buys, market op guidelines
  • -Many members: Pursuing current powerful easing appropriate
  • -One member: BOJ should cut asset purchases incrementally
  • -Risks to Japan economy are skewed to the downside
  • -A few members: CPI won’t reach 2% during projection period
  • -Size of JGB buying varies depending on market conditions

Little reaction in USDYEN currently hovering around 111.30-35

Japan Trade

By CR | June 18, 2017 8:04 pm | 0 Comments

Japan May trade deficit 203.4bio yen vs 43.3b SURPLUS expected.

Exports rose 14.9% yoy while Imports rose 17.8%yoy

 

$JPY up slightly from 110.70 to just shy of 111.

 

RBA Governor Lowe spoke earlier saying Australia’s economy likely to grow faster over the next couple of years.

Monday Open

By CR | 5:28 pm | 0 Comments

Opening levels

$JPY 110.91

EUR$ 1.1208

GBP$ 1.2765

$CHF 0.9732

$CAD 1.3217

AUD$ 0.7619

NZD$ 0.7254

 

Not much change from Friday close in G10 majors

 

Headline over the weekend

 

French parliamentary election update; President elect Macron’s party and his allies winning some 355-365 seats out of 577 in total, big victory for Macron.

 

Iran fired missile strike on Syria.

 

Trump lawyer: Despite Tweet, President is not under inquiry, NYTimes.

AUSTRALIA JOB DATA

By CR | June 14, 2017 9:37 pm | 0 Comments

Strong Australia May unemployment rate 5.5% vs 5.7% expectation, employment change was  also solid +42.0k vs 10k fcst, AUD$ pops up to 0.7625 high, 0.7750 ytd high is in scope now.

NEW ZEALAND Q1 GDP

By CR | 6:51 pm | 0 Comments

NEW ZEALAND Q1 GDP came out weaker than expected +0.5%qoq vs 0.7% expected, 0.4% prior.

GDP Annual average 3.0%, Q1 Expenditure 0.2% vs 0.1% prior.

NZD dropped quick 30 pips to 0.7230s.

AUD in the meantime rallying towards 76 cents pushing AUDNZD cross higher.

NZD 1Q c/a

By CR | June 13, 2017 6:52 pm | 0 Comments

New Zealand Q1 Current account deficit of 8.13b NZD vs -7.28b expected.

NZD slightly lower to 0.7207 given.

Next data Australia Westpac Consumer sentiment at 2030 EDT

Currency market staying quiet ahead of FOMC rate decision tomorrow.

NAB BUSINESS CONFIDENCE

By CR | June 12, 2017 9:49 pm | 0 Comments

Australia May NAB Business confidence number out weaker than expected at  +7  vs +13 prior.

AUD$ made a tiny dip down by 5 pips then recovered as if nothing happened.

Other majors staying quiet with GBP slowly drifting lower.

Await UK Inflation numbers and German ZEW when Europe wakes up.

Monday opening levels

By CR | June 11, 2017 5:28 pm | 0 Comments

Majors staying unchanged from Friday close levels:

USDJPY 110.35

EURUSD 1.1205

GBPUSD 1.2740

USDCAD 1.3460

AUDUSD 0.7532

NZDUSD 0.7205

 

News over the weekend

-Germany Merkel: EU ready to begin BREXIT talks

-France Macron seen winning 415-455 seats at French Assembly

China Inflation numbers

By CR | June 8, 2017 9:49 pm | 0 Comments

CHINA May CPI +1.5%yoy as expected, vs 1.2% prior month, PPI +5.5% vs 6.4% prior but no reaction on these data as the market deeply focusing on UK election.

Cable in the meantime recovering from sub 1.27 to 1.2800 as Conservatives coming back a bit,  $JPY recovering 110 handle as Nikkei trading back above key 20k.

GBP collapses on UK exit poll

By CR | 5:17 pm | 0 Comments

Cable drops 1.3% down to 1.2730 as Exit Poll suggests Conservatives not reaching majority.

Possible Hung Parliament makes BREXIT talk even harder.

EURGBP jumps to 0.88 handle, highest level since March.

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