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Asian Session – Yen weakens after BoJ policy announcement

Posted on September 21, 2016 at 5:40 am GMT

Today’s highly-anticipated policy announcement from the Bank of Japan was delayed and trading was cautious ahead of this big risk event. The reaction from the market was overall positive once the BoJ decision was released and digested by investors and the yen consequently weakened. Initially there was some confusion and disappointment on news that the BoJ did not deliver a further rate cut and maintained the negative interest rate policy. It kept the minus 0.1% rate that it applies to [..]

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European Session – Pound underperforms in muted trading weighed by ‘hard’ Brexit fears

Posted on September 20, 2016 at 2:53 pm GMT

The British pound underperformed other major currencies in Tuesday’s European session, while uncertainty ahead of the US Federal Reserve and Bank of Japan policy decisions tomorrow kept trading muted. Central bank policy was once again the dominant market theme as the absence of any other headlines meant investors’ focus was on the Fed and the BoJ, which both start their two-day policy meetings today and will announce their decisions tomorrow. The dollar was stuck in a tight range against the [..]

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Asian Session – Nervousness ahead of BoJ and Fed keeping markets subdued

Posted on September 20, 2016 at 5:36 am GMT

Markets were subdued as caution set in ahead of the highly-anticipated policy decisions from the Federal Reserve and the Bank of Japan following a two-day meeting that concludes on Wednesday. The yen was weaker today as the Tokyo equity markets were up while investors count down to the BoJ decision and there is optimism that the Bank will take some action at this meeting. Unlike the Fed, a move on rates by the BoJ is expected and the odds for [..]

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European Session – Dollar drifts lower but aussie and kiwi shine as oil rallies

Posted on September 19, 2016 at 3:04 pm GMT

Currency markets remained subdued in today’s European session as traders took a cautious line ahead of this week’s Fed and Bank of Japan meetings and in the absence of major data releases. The dollar continued to slip against the yen, breaking below the key 102 level, while a rebound in oil prices boosted equities and commodity-linked currencies. The dollar index was down 0.4% in late European session at 95.70 as traders bet that the Fed will keep rates on hold [..]

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Asian Session – Oil rises on output freeze hopes; aussie outperforms after China data

Posted on September 19, 2016 at 5:23 am GMT

It was a fairly quiet Asian session as Tokyo was on holiday today and the economic calendar was light. The yen saw some strength as it was supported by the demand for safe haven assets. Investors are being cautious ahead of key risk events this week, with the Federal Reserve and Bank of Japan holding policy meetings. The dollar/yen pair edged lower to 101.98 yen, trimming its gains made on Friday after US inflation data. CPI beat expectations to rise 0.2% [..]

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European Session – Dollar rallies on strong inflation numbers

Posted on September 16, 2016 at 2:25 pm GMT

The US dollar posted some strong gains today, following the release of data showing price pressures building up in the US economy.  The yen also posted some gains versus the pound and the euro, as it traded below the 134 and 114 levels respectively. Euro / dollar fell to its lowest since September 6, falling below the 1.12 level to 1.1166.  Dollar / yen did not rise as much, with the dollar retaking the 102 handle to trade around 102.15.  [..]

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Week Ahead – All eyes on Fed and BoJ rate decisions, PMI data

Posted on September 16, 2016 at 2:02 pm GMT

The big focus next week will be on two critical central bank meetings in the US and Japan. Both the Federal Reserve and the Bank of Japan hold policy meetings and their decisions are due on Wednesday. The first announcement will come from the BoJ late in the Asian session while the FOMC decision comes out late in the US session. All eyes will be on Fed Chair Janet Yellen during the news conference that will take place after the [..]

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European Session – weak data fails to dent US dollar; Bank of England holds as expected

Posted on September 15, 2016 at 2:23 pm GMT

The US dollar proved resilient in the face of some worse-than-expected economic news whereas the Bank of England’s rate-setting meeting confirmed expectations that the Bank would hold off from extra stimulus for now. Retail sales in the United States were broadly weaker in August, as the headline measure contracted by 0.3% whereas the previous month’s rate was revised slightly higher to 0.1%.  The retail sales control measure, which excludes certain volatile spending categories and which is closely related to the [..]

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