- FTSE -0.2%
- DAX -0.3%
- CAC40 -0.9%
- FTMIB -0.3%
Of course it is.. Don’t know why anyone would be stupid enough to ask the question
- may reach 2% target earlier or later due to oil prices
Repetition time again from my best mate
How long has he got left in the job btw?
- CPI likely to reach 2% in or around FY 2015
- BOJ still halfway to meet price target
- exit strategy depends on economy. market ansd prices
Anything else you want to throw in there my ol’ mucker?
USDJPY 117.67 EURJPY 132.87
It’s been a dismal Asian session for the Aussie $ but the slide from above 0.7900 seems to have found some support at 0.7850 again
Low so far 0.7854 near lows seen on 26 Jan and currently 0.7870
Expect resistance/offers now nearby around 0.7885 and more into 0.7900-10 from whence it came
A break of 0.7850 will bring some stop loss selling with it and we should then expect an attack on new lows into 0.7800-25
AUDUSD monthly 29 Jan
G’day one and all
Is it Friday yet ?
A long month and even longer week so far brings us little from the Fed but hey, no one is too surprised by that surely?
Datawise today we have German unemployment and flash CPI as our main focus this morning with US initial jobless claims and pending home sales later
As always I wish you a great session
of course you do.. Bless
Ya da ya da ya da
- BOJ paying attention to output gap, inflation expectations
- CPI likely to reach 2% in or around FY 2015
- underlying trend in CPI is continuing
- falling oil prices a big plus for Japan’s economy
- BOJ easing is having intended effect
That last comment will be referring to sleeping through alarms then. One day I’m going to get a Kuroda clock that wakes me up with something of interest.. Will be a long time coming though
boring speaking in parliament just now
USDJPY still 117.70
Forex news for Asia trading Thursday 29 January 2015
- Australian iron ore miners benefitting at expense of higher cost suppliers
- RBNZ sold net NZ$16 million in December
- “Momentum trading to offer best foreign exchange returns in 2015″
- Reuters poll: 11 of 15 economists see no RBNZ rate move before Q1 2016
- Fonterra: Reduced its milk volume forecast for the 2014-15 season
- Australia – export and import price indices for Q4
- 5 takeaways from the FOMC meeting
- Japan Buying Foreign Bonds, Y 45.6B (plus, the rest of this data)
- Japan Retail sales for December: -0.3% m/m (expected +0.3%)
- “Rate cut bets soar as RBA shifts expectations”
- RBA rate cut on Tuesday? It might ignite the property market again
- New Zealand Trade balance for December: -159m (vs. expected 75m)
- Australian press: RBA ” will almost certainly” cut rates next week
- RBNZ: Expects to keep rates on hold for some time, jawbones on NZD
The early part of the session saw a lower NZD and AUD, with the policy meeting from the RBNZ resulting in a move away from their hawkish bias and more response to an overnight article in the Australian press saying an RBA rate hike next week is almost certain (even though it isn’t).
AUD and NZD barely recovered throughout the course of the rest of the session, and the AUD/USD is right on session lows as I complete the wrap. markets are now pricing in a circa 60% probability of an RBA rate cut on Tuesday.
USD/CHF traded higher during the day, up just more than 70 points from earlier lows. EUR/USD and GBP/USD both ticked a little higher, but not by much at all and both are at session lows (below earlier lows) (as of writing).
USD/JPY (and the Nikeei) are both higher, USD/JPY testing above 118.00 before stabilising just below. EUR/JPY net benefited on the day from the USD/JPY dragging it up.
Oil ticked a little higher, while gold lost just a few dollars.
- The head of the Federal Reserve holds a press briefing after four of the central bank’s eight meetings each year
- Despite assurances from both Mr. Bernanke and his successor, Janet Yellen, that policy makers could snap into action at any time, many analysts and investors have come to believe the Fed will wait for a meeting with a news conference to make a major move.
- This expectation appears built into many economists’ forecasts for a first Fed interest-rate increase. In their notes to clients, they generally stick to either June, September or December—all meetings with press conferences.
- Andrew Levin, a senior research fellow at the International Monetary Fund says the Federal Open Market Committee should really think about holding a news conference after every meeting
- “Thus, it would seem sensible to start holding a press conference in conjunction with every FOMC meeting. After all, such press conferences are invaluable for explaining the Committee’s outlook and policy judgments”
One thing that jumps out at me from the article is this …
- “Despite assurances from both Mr. Bernanke and his successor, Janet Yellen, that policy makers could snap into action at any time” … “many analysts and investors have come to believe the Fed will wait for a meeting with a news conference to make a major move”.
I think maybe the case isn’t so much for a press conference after each meeting (though I have no objections to this) as for employing analysts and investors who aren’t so naive.
Singapore didn’t even wait for a meeting, let alone a press conference
Neither did India
Oh, yeah. Any of these analysts even heard of the Swiss National Bank?
I need a cup of tea.
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