Intra-Day Market Moving News and Views
29 Jun 2016 01:10GMT
USD/JPY - Today, Japanese Prime Minister Shinzo Abe at the start of a meeting between the government and the Bank of Japan to discuss market developments in the wake of the Brexit vote had urged the central bank to provide ample funds to the market to ensure liquidity and the market's intermediary functioning.
Abe also wanted Finance Minister Taro Aso to pay utmost attention to currency and financial market moves. The government was ready to take all available policy steps to support Japan's economy and small firms in the wake of Britain's shock vote to leave the European Union.
Abe commented that it is important for G7 to continue to deliver messages on market stability, with uncertainty, risks remain in financial markets but Japan is ready to mobilise all available policy measures to support Japan economy.
While today data showed Japan's retail sales fell more than expected in May in a third straight month of annual declines, keeping policymakers under pressure for more stimulus to support a fragile economic recovery.
Retail sales also fell 1.9 percent in May from a year earlier, more than a median market forecast for a 1.6 percent declines, data from the Ministry of Economy, Trade and Industry showed.
The weak reading underscores the relative fragility in Japan's economy, with slow wage growth and gloomy prospects of recovery weighing on household spending.
The market turmoil in the wake of Britain's vote to leave the European Union adds to headaches for Japanese policymakers worried about the drag the yen's recent rises could have on exports.
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
Editors’ Picks
EUR/USD holds gains above 1.0700 as USD struggles ahead of data
EUR/USD is posting small gains above 1.0700 in the European session on Thursday. The pair remains underpinned by a sustained US Dollar weakness, in the aftermath of the Fed policy announcements and ahead of more US employment data.
GBP/USD stays firm above 1.2500 amid US Dollar weakness
GBP/USD is consolidating the rebound above 1.2500 in European trading on Thursday. The pair's uptick is supported by a broadly weakness US Dollar on dovish Fed signals. A mixed market mood could cap the GBP/USD upside ahead of mid-tier US data.
Gold price trades with modest losses amid positive risk tone, downside seems limited
Gold price edges lower amid an uptick in the US bond yields, though the downside seems cushioned. A positive risk tone is seen as another factor undermining demand for the safe-haven precious metal.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple coils up for a move north as XRP bulls defend $0.5000.
Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.