Intra-Day Market Moving News and Views
07 Jul 2014 02:21GMT
USD/JPY - ... Although the greenback rose briefly to 102.20 in part due to the firmness in Japanese equities, selling interest below 102.35 resistance capped dlr's upside somewhat. On the downside, bids are located at 102.05-00 n more at 101.85-85.
U.S. dollar is likely to maintain a firm undertone this week as the Federal Reserve will release the minutes of June policy meeting on Wednesday at 18:00GMT amid speculation it will bring forward the timing of interest-rate increases.
In other news, economists expected Japanese Prime Minister Shinzo Abe may use an address to Australia's parliament this week to outline plans for expanding his nation's military role to collective self-defense. Abe will appoint a minister to shepherd laws enabling Japan? Self-Defense Forces to support allies, he said in an interview with the Yomiuri newspaper published earlier. The cabinet on July 1 approved a reinterpretation of Japan? pacifist constitution to allow military action in concert with other nations when Japan? security is at risk.
Earlier comments fm BoJ Governor Haruhiko Kuroda who was speaking at the quarterly meeting of BoJ branch managers, quote:
"Japan's economy continues to recover moderately as a trend."
"Japan's CPI likely to move around 1-1.5% for some time."
"Japan's financial system maintaining stability as a whole."
"Japan's QE has been exerting intended effects."
"Japan will continue with QE for as long as needed to achieve its 2% inflation target in stable manner."
"BoJ will examine upside, downside risks to economy, prices, n adjust policy as necessary."
07 Jul 2014 02:21GMT
USD/JPY - ... Although the greenback rose briefly to 102.20 in part due to the firmness in Japanese equities, selling interest below 102.35 resistance capped dlr's upside somewhat. On the downside, bids are located at 102.05-00 n more at 101.85-85.
U.S. dollar is likely to maintain a firm undertone this week as the Federal Reserve will release the minutes of June policy meeting on Wednesday at 18:00GMT amid speculation it will bring forward the timing of interest-rate increases.
In other news, economists expected Japanese Prime Minister Shinzo Abe may use an address to Australia's parliament this week to outline plans for expanding his nation's military role to collective self-defense. Abe will appoint a minister to shepherd laws enabling Japan? Self-Defense Forces to support allies, he said in an interview with the Yomiuri newspaper published earlier. The cabinet on July 1 approved a reinterpretation of Japan? pacifist constitution to allow military action in concert with other nations when Japan? security is at risk.
Earlier comments fm BoJ Governor Haruhiko Kuroda who was speaking at the quarterly meeting of BoJ branch managers, quote:
"Japan's economy continues to recover moderately as a trend."
"Japan's CPI likely to move around 1-1.5% for some time."
"Japan's financial system maintaining stability as a whole."
"Japan's QE has been exerting intended effects."
"Japan will continue with QE for as long as needed to achieve its 2% inflation target in stable manner."
"BoJ will examine upside, downside risks to economy, prices, n adjust policy as necessary."
Recommended Content
Editors’ Picks
EUR/USD holds gains above 1.0700, as key US data loom
EUR/USD holds gains above 1.0700 in the European session on Thursday. Renewed US Dollar weakness offsets the risk-off market environment, supporting the pair ahead of the key US GDP and PCE inflation data.
GBP/USD extends recovery above 1.2500, awaits US GDP data
GBP/USD is catching a fresh bid wave, rising above 1.2500 in European trading on Thursday. The US Dollar resumes its corrective downside, as traders resort to repositioning ahead of the high-impact US advance GDP data for the first quarter.
Gold price edges higher amid weaker USD and softer risk tone, focus remains on US GDP
Gold price (XAU/USD) attracts some dip-buying in the vicinity of the $2,300 mark on Thursday and for now, seems to have snapped a three-day losing streak, though the upside potential seems limited.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
US Q1 GDP Preview: Economic growth set to remain firm in, albeit easing from Q4
The United States Gross Domestic Product (GDP) is seen expanding at an annualized rate of 2.5% in Q1. The current resilience of the US economy bolsters the case for a soft landing.