Intra-Day Market Moving News and Views
04 Mar 2016 02:30GMT
USD/JPY - ..... Dollar met renewed selling at 113.76 in Australia and briefly fell to intra-day low of 113.25 after BoJ Kuroda's interest rate remarks.
In the parliament speech, Bank of Japan Governor Haruhiko Kuroda remarks on not going to pushing interest rates further into negative territory now. The BOJ stunned markets by adopting a negative interest rate policy in January to reflate the economy out of stagnation and achieve its ambitious 2 percent inflation target. He further comments that the forecast has a high chance of meeting 2 pct price target in first half of fy 2017, with the falling lending and mortgage rates that will benefit households, corp sector. BOJ will take appropriate monetary policy steps in future if needed as well as adjusting the monetary policy without hesitation if needed.
While Japanese Economy Minister Nobuteru Ishihara said after a regular cabinet meeting that an advisory panel on new spending would hold its first meeting in the middle of this month and would discuss the world economy, energy and the financial sector, and that the advisory panel was not for preparation of a delay in a planned sales-tax hike.
Comments today by Japan FinMin Aso, they have no change in pm Abe's plan to implement sales tax hike next year
and that PM Abe will implement sales tax hike unless there is financial crisis or natural disaster.
Data to be released on Friday:
Australia retail sales, Italy GDP, U.K. inflation expectations, U.S. unemployment rate, non-farm payrolls, private payrolls, manufacturing payrolls, average earning, participation rate, international trade, Canada trade balance, exports, imports, labour productivity and Ivey PMI
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