Intra-Day Market Moving News and Views
23 Jul 2014 05:20GMT
USD/JPY - .... Statement from BoJ's Deputy Governor Nakaso quote:
'Japan's economy recovering moderately as a trend, impact of sales tax hike easing; sales tax hike reduces real household income, so must watch its impact on consumption;
global financial regulation must be created in a way that does not excessively hamper private-sector banking activity;
too early to debate specific exit strategy for BoJ's QEE programme;
BoJ has experience exiting previous QE in 2006 and already has various means to withdraw liquidity;
how to use such means to withdraw liquidity and in what order, would depend on economic, price conditions at the time;
BoJ won't be able to use same exit strategy as when it ended previous QE, as its balance sheet is larger and debt duration is longer;
monetary policy has a role to lay in addressing financial imbalances ;
in general, prolonged ultra-loose policy may spur excessive risk taking, but no such behavior seen in Japan.'
23 Jul 2014 02:17GMT
USD/JPY - .... Although dlr edged higher in Tokyo morning n climbed to 101.54, renewed broad-based buying in yen quickly emerged after comments BoJ's Deputy Governor Nakaso (see our prev. MMN) n pressured price to 101.39.
Today, the greenback shud remain supportive as the release of solid U.S. inflation and existing home sales numbers y'day determines that the U.S. economy continues to improve n is in need of less support fm the Federal Reserve. Therefore, buying dlr on dips in anticipation of next intra-day upmove is recommended, however, as broad outlook is consolidative n in an absence of U.S. economic events in U.S. today, reckon renewed selling may emerge below last Wed's high of 101.79 n yield retreat later.
At the moment, bids are noted at 101.25/20 n around 101.10 with stops emerging just below 101.00. On the upside, offers are placed at 101.55/60 n then 101.70 with mixture of offers n stops located at 101.95/00.
Earlier quoting source fm the Nikkie which said Abe advisers urge an initial 2% corporate tax cut.
23 Jul 2014 05:20GMT
USD/JPY - .... Statement from BoJ's Deputy Governor Nakaso quote:
'Japan's economy recovering moderately as a trend, impact of sales tax hike easing; sales tax hike reduces real household income, so must watch its impact on consumption;
global financial regulation must be created in a way that does not excessively hamper private-sector banking activity;
too early to debate specific exit strategy for BoJ's QEE programme;
BoJ has experience exiting previous QE in 2006 and already has various means to withdraw liquidity;
how to use such means to withdraw liquidity and in what order, would depend on economic, price conditions at the time;
BoJ won't be able to use same exit strategy as when it ended previous QE, as its balance sheet is larger and debt duration is longer;
monetary policy has a role to lay in addressing financial imbalances ;
in general, prolonged ultra-loose policy may spur excessive risk taking, but no such behavior seen in Japan.'
23 Jul 2014 02:17GMT
USD/JPY - .... Although dlr edged higher in Tokyo morning n climbed to 101.54, renewed broad-based buying in yen quickly emerged after comments BoJ's Deputy Governor Nakaso (see our prev. MMN) n pressured price to 101.39.
Today, the greenback shud remain supportive as the release of solid U.S. inflation and existing home sales numbers y'day determines that the U.S. economy continues to improve n is in need of less support fm the Federal Reserve. Therefore, buying dlr on dips in anticipation of next intra-day upmove is recommended, however, as broad outlook is consolidative n in an absence of U.S. economic events in U.S. today, reckon renewed selling may emerge below last Wed's high of 101.79 n yield retreat later.
At the moment, bids are noted at 101.25/20 n around 101.10 with stops emerging just below 101.00. On the upside, offers are placed at 101.55/60 n then 101.70 with mixture of offers n stops located at 101.95/00.
Earlier quoting source fm the Nikkie which said Abe advisers urge an initial 2% corporate tax cut.
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