5 minutes ago | October 31st, 2014 06:46:32 GMT

Kuroda says he doesn’t see the need to act further now


  • today’s decision itself is bold and will be effective

So he will keep the markets guessing then

USDJPY back down to 111.02

  • still room to ease if needed but we feel we’ve taken sufficient steps today
  • no change to 2 year timeframe for inflation target
  • target still to be reached middle FY2014-16


19 minutes ago | October 31st, 2014 06:33:04 GMT

BOJ press conference: Kuroda says easing expanded to ensure price target is reached


Presser underway. More comments to follow

  • easing aimed at ending deflationary mindset
  • BOJ easing is having intended effects
  • impact of sales tax rise have been somewhat prolonged
  • saw risk of delay in conversion of deflationary mindset
  • Japanese economy in critical moment in beating deflation
  • price expectations in Japan are not firmly anchored like they are in other countries
  • cannot allow momentum that is pushing up wages to stop


1 Comment

25 minutes ago | October 31st, 2014 06:26:52 GMT

Option expiries 10am NY cut 31 Oct


  • USDJPY 107.85-95 (USD 650m) 108.00-108.15 (USD 1.4bln) 109.00 (USD 1.7bln) 110.00 (USD 2bln)
  • EURUSD 1.2600 (EUR 500m) 1.2645-50 (EUR 1.8bln) 1.2700 (EUR 1bln)
  • GBPUSD none
  • AUDUSD 0.8750 (AUD 634m) 0.8840-50 (AUD 750m)
  • USDCAD 1.1125 (USD 1bln) 1.1150 (USD 565m) 1.1200 (USD 491m) 1.1300 (USD 1.1bln)
  • NZDUSD 0.7850 (NZD 350m) 0.7875 (NZD 382m)

For further info on how to use these expiries here’s a post to help


36 minutes ago | October 31st, 2014 06:15:18 GMT

Cable posts new session lows as month-end flows noted


As yen pairs finally find a few sellers on profit-taking we’ve seen GBPUSD fall to session lows of 1.5966, ahead of  the strong support at 1.5950 that I’ve been banging on about. Have you been selling those rallies above 1.6000? lol

And don’t forget it’s month-end so we should see some usual EURGBP demand ( just rising to 0.7870 from 0.7864 as I type) and this should also help to cap GBPUSD rallies

1 Comment

48 minutes ago | October 31st, 2014 06:03:21 GMT

GPIF changes confirmed by govt source


A little lost in the BOJ fallout was the news that the expected changes to the GPIF allocation have been confirmed by a govt source with health min Shiozaki expected to give final approval later today

  • panel approves cutting JGB allocation to 35% from 60%
  • domestic stocks to rise to 25% from 12%
  • foreign stocks to rise to 25%

Eamonn had the heads up here earlier and the impact on BOJ


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