17 Apr 2014 09:12GMT
Japan gov't official says 'BoJ Kuroda told meeting that BoJ will continue with monetary easing to support private demand-led econ recovery.'
In stark contrast to y'day's firmness in Europe due to the rally in Nikkei, dlr trades with a soft undertone in European morning as early broad-based cross unwinding in yen knocked the pair lower to 101.86 in Asia n present weakness in the Nikkei futures suggests dlr wud remain under pressure until NY open.
Offers are noted at 102.00/10 with 1st layer of stops abv 102.20, however, more selling interest is tipped at 102.30/40. On the downside, a mixture of buying interest n stops is reported at 101.85/80, so selling dlr on recovery is favoured.
Japan Vice EconMin Nishimura says 'economy remains on firm footing after sales tax hike; impact of sales tax within expectation, seen as temporary; expecting Japan economy to steadily recovery toward beating deflation.'
17 Apr 2014 09:11GMT
EUR/USD - 1.3849.. Euro rises again in Europe following initial cable-led strg rebound in Asia. Despite trading narrowly at European open, traders cited buying interest abv 1.3835 n stops abv y'day's 1.3851 high are now in focus. However, there is talk of fairly large offers at 1.3860/70 area, so unless euro can absorb these offers, do not get overly bullish as price may well do a u-turn after a test on the upside fails.
Since today is the last trading day of the week in Europe, position adjustments may have a strg influence on near term price swings in European morning session. Market awaits release of U.S. weekly jobless claims later in the day at 12:30GMT.
Recommended Content
Editors’ Picks
EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.