News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Mixed
More View more
Real Time News
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here: https://t.co/aVAzFypAg1 https://t.co/o7vhN7kh5c
  • #Bitcoin breaking towards the August high as RSI surges into overbought territory for the first time since August A push to test the 2019 high (13764) could be on the cards if price can breach the 12,500 mark #BTC https://t.co/ANMEn7O5kg https://t.co/g1hTFENvW4
  • EU's Barnier says it is possible to find a compromise on level playing field, adds that an agreement is within reach $GBP
  • EU's Barnier says it takes two to reach a deal $GBP
  • EU's Barnier says a deal is within reach if both sides are willing to compromise $GBP
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.76%, while traders in EUR/USD are at opposite extremes with 70.87%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/5ceG7kdQ3s
  • The AB=CD pattern is simple once you know how to spot it and draw the proper Fibonacci retracements. Make your trading strategy as simple as ABCD here: https://t.co/AKmlmaAZBS https://t.co/AyM4cSDXtC
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 1.46% Gold: 0.64% Oil - US Crude: -0.93% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/HdkcnCBndK
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.58% 🇬🇧GBP: 0.52% 🇦🇺AUD: 0.44% 🇪🇺EUR: 0.32% 🇨🇭CHF: 0.29% 🇨🇦CAD: 0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Lh2TJjviR7
  • Heads Up:💶 ECB President Lagarde Speech due at 07:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-10-21
Yen Gains on BOJ Policy Hold, Dollar May Rise on Greek Vote Jitters

Yen Gains on BOJ Policy Hold, Dollar May Rise on Greek Vote Jitters

2012-06-15 08:05:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points

  • Risk Appetite Finds Support on Hopes for Coordinated Central Bank Stimulus
  • Soft US Economic Data May Spark Risky Asset Liquidation into the Week-End
  • Yen Outperforms as BOJ Keeps Policy on Hold, Upgrades Growth Outlook

The Japanese Yen outperformed in overnight trade, rising against all of its leading counterparts after the Bank of Japan opted to keep monetary policy unchanged from its current setting. The bank held the benchmark interest rate at 0.1 percent and kept the size of its asset-purchase fund, the credit-loan program, and monthly JGB purchases at ¥40, ¥30 and ¥1.8 trillion respectively. Policymakers also upgraded their outlook for economic growth, attributing signs of pick-up to rebuilding efforts following last year’s Tohoku earthquake and tsunami. The news boosted the Yen amid receding worries that the BOJ would further dilute the currency in an attempt to reach its 1 percent inflation target.

Risk appetite appears well-supported in late Asian trade following reports thatcentral banks are preparing to step in to stabilize financial marketsif the weekend’s much-feared Greek election outcome generates widespread dislocation. Reuters cited a G20 cited official saying the world’s top monetary authorities would provide liquidity if credit conditions seize up while Bank of England Governor Mervyn King unveiled a credit-easing program meant to feed funding to UK banks set to launch next week.

S&P 500 stock index futures are pointing higher ahead of the opening bell on Wall Street, but the risk of liquidation remains high as traders turn defensive into the close of the trading week. The US economic data docket may prove to be the catalyst for a turn-around in sentiment. The University of Michigan gauge of consumer confidence is expected to tick lower and New York State manufacturing activity slows in June. Industrial Production is likewise forecast to decelerate. Such an outcome promises to reboot demand for haven assets, pushing the US Dollar higher.

Asia Session: What Happened

GMT

CCY

EVENT

ACT

EXP

PREV

22:30

NZD

Business NZ PMI (MAY)

55.7

-

48.2 (R+)

1:00

NZD

ANZ Consumer Confidence Index (JUN)

105.8

-

113.9

1:00

NZD

ANZ Consumer Confidence (MoM) (JUN)

-7.1%

-

-0.1%

2:52

JPY

Bank of Japan Rate Decision (JUN 15)

0.10%

-

0.10%

3:00

NZD

Non Resident Bond Holdings (MAY)

61.7%

-

62.1%

Euro Session: What to Expect

GMT

CCY

EVENT

EXP

PREV

IMPACT

6:00

EUR

EU 25 New Car Registrations (MAY)

-

-6.9%

Low

8:00

EUR

Italian Trade Balance - Total (€) (APR)

-

2065M

Low

8:00

EUR

Italian Trade Balance Eu (€) (APR)

-

1555M

Low

8:30

GBP

Total Trade Balance (£) (APR)

-2700

-2739

Low

8:30

GBP

Trade Balance Non EU (£) (APR)

-4175

-4109

Low

8:30

GBP

Visible Trade Balance (£) (APR)

-8500

-8564

Medium

9:00

EUR

Euro-Zone Employment (QoQ) (1Q)

-

-0.2%

Low

9:00

EUR

Euro-Zone Employment (YoY) (1Q)

-

-0.2%

Low

9:00

EUR

Euro-Zone Trade Balance (€) (APR)

4.0B

8.6B

Low

9:00

EUR

Euro-Zone Trade Balance s.a. (€) (APR)

4.2B

4.3B

Low

Critical Levels

CCY

SUPPORT

RESISTANCE

EURUSD

1.2571

1.2699

GBPUSD

1.5442

1.5593

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES