Author: Eamonn Sheridan

Comments from Bank of Japan board member Ishida:

  • Must look carefully without any preconception whether risks are building for Japan's financial system as a result of QQE
  • Don't see signs of huge financial imbalances, excessive risk-taking building up for now
  • Don't think it is appropriate to strip away food costs in gauging Japan price trend as food makes up a quarter of households' total spending
  • Expects overseas economies to recover gradually
  • Must be vigilant to heightening disinflationary trend, build-up of excessive slack in China
  • Emerging economies somewhat weakening with China's slowdown weighing on other Asian economies
  • Inflation seen accelerating towards BOJ's 2% target as underlying price trend steadily improves
  • Risks to Japan's economic outlook are mostly from overseas developments such as emerging economies, Europe's debt woes and pace of US recovery

I don't know where Ishida is speaking ... I didn't see him on any schedule

Headlines via Reuters 

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Author: Eamonn Sheridan

Australia Building approvals for June: -8.2% m/m (vs. -1.0% expected)

Building approvals for June -8.2 % m/m -  expected -1.0%, prior was +2.3%, revised from +2.4% +8.6 % y/y - expected 19.5%, prior was +18.3%, revised from 17.6% Both in under expectations ... this is avolatile data series, but nevertheless .... not as good as was expected

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Author: Eamonn Sheridan
4

EUR/USD orders

Some US dollar strength washing through FX markets as Asia gets more fully online EUR, GBP, yen, CHF, AUD and NZD all losing a few points in the past quarter hour or so

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Author: Eamonn Sheridan
4

The Federal Reserve is 'data dependent'. OK then, here's a GDP report preview!

In the US on Thursday morning we get the first estimate for economic growth in the second quarter ... the Q2 GDP report - (annualized q/q) .... that's the Bloomberg survey. The Wall Street Journal survey expected is +2.7% Higher than the 2.5% will be a USD bullish input, while lower will be a negative input

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Author: Eamonn Sheridan
9

The Foreign Exchange Interbank Market

I was asked earlier today (in the ) about the interbank FX market, and what books to read to find out about it. Attacking Currency Trends course Hmmmm. This is a good piece, from the excellent Kathy Lien:

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Author: Eamonn Sheridan
12

The overlooked omission in the Fed statement

"The FOMC statement was not as hawkish as many anticipated" ... Thats from Adam, who was having a break while Ryan took the ForexLive reins over the FOMC

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Author: Eamonn Sheridan
5

AUD/USD & NZD/USD orders

AUD/USD Currently  0.7302 -  NZD/USD ... a little diminished after the fall a couple of hours ago Currently  0.6657

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Author: Eamonn Sheridan

New Zealand: June Building Permits: -4.1% m/m (prior was flat at 0.0%)

New Zealand: June Building Permits - More homes were consented in the first six months of 2015 than a year previously - In the month of June 2015, 2,042 new dwellings were consented nationally, up 2.0 percent on June 2014. However, New dwellings consented in June 2015, compared with June 2014:

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Author: Eamonn Sheridan

Economic data due from Japan

Industrial production for June (preliminary reading) is the big one out of Japan today. Due at 2350GMT: - Industrial Production for June m/m, expected is +0.3%, prior was -2.1%

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Author: Eamonn Sheridan
14

Trade ideas thread for Thursday 30 July 2015

Good morning/evening/afternoon.Any trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:

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Author: Eamonn Sheridan

Economic data due from New Zealand today

Coming up from New Zealand today 2245GMT ... June Building Consents (also known as Building Permits) m/m, -  prior was flat at 0.0% change m/m And that's it from NZ for today.

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Author: Greg Michalowski
1

Forex technical analysis; EURUSD falls to support target....stalls

Market shifts below 100 day MA. Can it stay below? The EURUSD had an up and down time of it for the first 45 minutes of trading after the FOMC statement.   The correction off that move (up to 1.10776 and down to 1.10034)  held the 50% at 1.1040 (see chart below). The next fall below the 1.1011 (100 day MA) turned the bias back lower (see price action on the 5 minute chart below)

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