Dukascopy Bank Team
Dukascopy Bank SA
USD/JPY: Japanese Monetary Policy Statement
The US Dollar depreciated against the Japanese Yen, following the Japanese Monetary Policy Statement data release on Tuesday at 02:55 GMT. The USD/JPY exchange currency rate lost 11 pips or 0.11% right after the release. The Greenback continued trading at the 108.70 level against the Japanese Yen.
The Bank of Japan released the Japanese Monetary Policy Statement data, where the Japanese policymakers provide in-depth insights into the economic and financial conditions that influenced their vote on where to set interest rate. Note, that the BOJ Outlook Report was published at the same time.
According to the official release: "Japan's economy is likely to continue on an expanding trend throughout the projection period -- that is, through fiscal 2021 -- despite being affected by the slowdown in overseas economies for the time being."
AUD/USD: Australian CPI
The Australian Dollar appreciated against the US Dollar, following the Australian CPI data release on Wednesday at 01:30 GMT. The AUD/USD exchange currency rate gained 14 pips or 0.21% right after the release. The Aussie continued trading at the 0.6885 level against the Greenback.
The Australian Bureau of Statistics released the Australian CPI data, which came out in line with the expectations of 0.6%.
ABS Chief Economist, Bruce Hockman said: "Automotive fuel prices rose 10.2 per cent in the June quarter 2019. This rise had a significant impact on the CPI, contributing half of the 0.6 per cent rise this quarter. Automotive fuel prices returned to levels recorded in late 2018 after falling 8.7 per cent in the March quarter 2019."
EUR/USD: US ADP Non-Farm Employment Change
The European Common Currency traded sideways against the US Dollar, following the US ADP Non-Farm Employment Change data release on Wednesday at 12:15 GMT. The EUR/USD exchange currency rate lost 2 pips or 0.02% right after the release. The Euro continued trading at the 1.1149 level against the US Dollar.
Automatic Data Processing, Inc. released the US ADP Non-Farm Employment Change data, which came out in line with the expectations of 156K.
"While we still see strength in the labor market, it has shown signs of weakening," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. "A moderation in growth is expected as the labor market tightens further."
USD/CAD: Canadian GDP
The US Dollar depreciated against the Canadian Dollar, following the Canadian GDP data release on Wednesday at 12:30 GMT. The USD/CAD exchange currency rate lost 20 pips or 0.15% right after the release. The Greenback continued trading at the 1.3135 level against the Canadian Dollar.
Statistics Canada released the Canadian GDP data, which came out better-than-expected of 0.2% compared with the forecast of 0.1%.
According to the official release: "Real gross domestic product was up for a third consecutive month in May, rising 0.2%. The increase was led by a rebound in manufacturing with 13 out of 20 industrial sectors expanding. On a three-month rolling average basis, real gross domestic product increased 0.7%. Real gross domestic product was up for a third consecutive month in May, rising 0.2%. The increase was led by a rebound in manufacturing with 13 out of 20 industrial sectors expanding. On a three-month rolling average basis, real gross domestic product increased 0.7%."
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
Recommended Content
Editors’ Picks
EUR/USD regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
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.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.