Intra-Day Market Moving News and Views (USD/JPY)
16 Mar 2016 02:06GMT

USD/JPY - ...... Dlr pared yesterday's sharp losses and jumped in Asian morning on BoJ Kuroda's dovish remarks. Speaking in parliament, Bank of Japan Governor Haruhiko Kuroda said that it was theoretically possible for the central bank to cut interest rates to around minus 0.5 percent. But he could not say at this moment which policy tools the BOJ would use in case it decided to expand monetary stimulus again, saying that it would depend on economic conditions at the time.

The BOJ added a negative interest rate policy to its massive asset-buying programme in January and began charging a 0.1 percent interest on a portion of excess reserves financial institutions park with the central bank.

Japan's PM Shinzo Abe is meeting with foreign economists to help him prepare for hosting a Group of Seven summit that will be hosted by Japan in May, and U.S. Nobel laureate and economist Joseph Stiglitz said that he had Shinzo Abe to delay a sales tax increase scheduled for next year and focus more on fiscal spending to boost a recovery from recession.
Stiglitz told Abe that G7 need to coordinate policy as weak aggregate demand was harming the global economy and contributing to income disparity.

The G7 talks, according to some economists, could give Abe a convenient reason to postpone tax hikes, relax fiscal austerity and and introduce more stimulus to avoid relying too much on monetary policy.
"A consumption tax increase now would be going in the wrong direction," said Stiglitz, a professor at Columbia University. "This is a time to have stimulating fiscal policy."


Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD extends losses on dovish remarks from ECB members, trades near 1.0780

EUR/USD extends losses on dovish remarks from ECB members, trades near 1.0780

EUR/USD continues its downward trend for the fourth consecutive day, driven by a stronger US Dollar influenced by the hawkish market sentiment surrounding the Federal Reserve and expectations of prolonged higher interest rates. 

EUR/USD News

GBP/USD trades sideways above 1.2600 amid quiet session

GBP/USD trades sideways above 1.2600 amid quiet session

The GBP/USD pair trades sideways around 1.2622 during the early Friday. The market is likely to be mute in light trading on Good Friday. Later in the day, the US Core Personal Consumption Expenditures Price Index will be released.

GBP/USD News

Gold ends Q1 2024 at record highs, what’s next?

Gold ends Q1 2024 at record highs, what’s next?

Gold is sitting at an all-time high of $2,236, lacking a trading impetus amid holiday-thinned conditions on Good Friday. Most major world markets, including the United States are closed in observance of Holy Friday, leaving volatility around Gold price highly subdued.

Gold News

Ripple's move above this key level could trigger nearly 50% rally for XRP

Ripple's move above this key level could trigger nearly 50% rally for XRP

Ripple price has overcome a critical resistance level and flipped into a support floor on the weekly time frame. This development happened while XRP tightly consolidated for roughly 250 days. As this coiling up comes undone, investors can expect XRP to kickstart a massive rally. 

Read more

Will they won’t they cut rates is the question of Q2?

Will they won’t they cut rates is the question of Q2?

There has been some significant push back from Fed and Bank of England members around the timing of rate cuts, and the Bank of Japan still haven’t physically intervened in the FX market to stem yen weakness although they are threatening to do so.

Read more

Majors

Cryptocurrencies

Signatures