News / Page 230

Bank of Japan minutes and PM advisor’s comments send yen higher

Posted on April 14, 2015 at 1:06 pm GMT

The Japanese Yen came into focus at the start of the week as the Bank of Japan published the minutes of its March 16-17 Monetary Policy Meeting on Monday April 13. At its March meeting, the Bank had maintained its policy of increasing the monetary base at an annual pace of about 80 trillion yen through money market operations. Disclosed in the minutes were many Policy Board members’ view that the underlying trend in inflation would continue to improve despite [..]

Asian Session – Euro / yen falls to 22-month low as Japanese PM’s advisor says the currency too weak

Posted on April 14, 2015 at 7:24 am GMT

The yen rallied on the absence of important news today, after an advisor to the Japanese Prime Minister said that the currency was too weak and that it had room to strengthen. The comments were surprising in that the prevailing view in the market was that the Japanese government saw a weaker yen as a key method of boosting its economy. Although this is unlikely to be a change of policy, it does introduce some uncertainty as to how much [..]

Technical Analysis – GBPUSD downside bias strong after reaching 5-year low

Posted on April 14, 2015 at 5:04 am GMT

GBPUSD fell to the lowest level since 2010 on Monday, touching 1.4564. The pair failed to break above resistance of 1.5008 and now the bias remains to the downside. The bearish market structure is highlighted by the falling tenkan-sen and kijun-sen lines, as well as the market being below the Ichimoku cloud. Also the RSI is below 50 in bearish territory. The outlook will remain bearish unless there is a rebound back above 1.5551 (the high of February 26). Otherwise, [..]

European Session – Dollar Surges on Lowest US Jobless Claims Numbers in 15 Years

Posted on April 9, 2015 at 2:39 pm GMT

In European trade the dollar continued its rally against the euro and was on course to record its third day of gains. Having opened at 1.0779 dollars, the euro briefly touched a high of 1.0787 but later dipped to session lows of around 1.071 following the release of weekly US Jobless claims which showed that unemployment claims fell to their lowest level in almost 15 years. The figure came in at 281k against expectations of 283k. The euro also fell [..]

Week ahead – ECB Meeting and US, UK inflation data to dominate the week

Posted on April 9, 2015 at 12:17 pm GMT

A number of important economic data are due next week as the latest inflation and unemployment figures are published for several countries, as well as the European Central Bank interest rate decision on Wednesday, which is likely to be the main focus of the week. The week will start relatively quiet as no major data is expected on Monday and most Eastern European markets will be closed for the Orthodox Easter. The main data coming out of the US will be the Consumer [..]

Fed minutes – Uncertainty over Fed policy helps dollar rebound

Posted on April 9, 2015 at 9:25 am GMT

The minutes from the Fed’s March policy meeting were closely examined by the market for signals on when interest rates in the United States will likely go up – a question that is one of the main focuses of financial markets currently. The Federal Open Market Committee (FOMC) met on March 17-18 and removed reference to “patience” from its statement in tightening monetary policy. The minutes showed a Fed that was divided, as on the one hand “several” FOMC participants [..]

Asian Session – Dollar pushes euro back on uncertainty over Fed actions

Posted on April 9, 2015 at 7:02 am GMT

The US dollar managed to gain against the euro during today’s Asian session, as it extended gains from the previous day. The euro was pushed under the 1.08 mark to trade as low as 1.0749 as traders tried to interpret statements from two Fed officials the previous day as well as the minutes from the March Federal Open Market Committee meeting that were released late in the US session. The speeches of Fed Governors Dudley and Powell suggested that there [..]

Technical Analysis – EURGBP falls back to lower end of range

Posted on April 9, 2015 at 6:42 am GMT

EURGBP is in a range and the near-term bias remains neutral. Resistance lies at the top of the range at 0.7384 and to the downside immediate support is at 0.7221. A break below this would bring the bias back to the downside and see a retest of the multi-year low of 0.7013 reached in March. If this support level fails to hold, a move lower would strengthen the downtrend that occurred from 0.8005 to 0.7013. The market has found resistance [..]

European Session – Dollar under 120.00 yen ahead of FOMC minutes

Posted on April 8, 2015 at 2:07 pm GMT

The market’s main focus is on the FOMC minutes later tonight, leading to dollar weakness and a reversal of Tuesday’s gains during the European session. Despite broad dollar weakness, the euro was unable to resurface above 1.0900 even though Eurozone retail sales data were in line with expectations. The figures showed a lower reading in February, dropping 0.2% on a month-on-month basis, versus January’s 1.1% rise. On a year-over-year basis, retail sales rose 3.0% also in line with forecasts. Other [..]

Yen Rises Against Dollar Following BoJ Decision to Keep Monetary Policy Unchanged

Posted on April 8, 2015 at 12:21 pm GMT

The Bank of Japan kept its monetary policy unchanged on Wednesday at its April 8 meeting. At the end of the two-day meeting, policymakers voted 8-1 to continue to increase the monetary base by 80 trillion yen a year through purchases of government bonds, a quantitative easing (QE) program that was launched two years ago in April 2013 and was upwardly revised in October of 2014. The no-change decision was widely expected, although an increase in asset purchases by the [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

News

XM Live Chat