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. See our updated Privacy Policy here.

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
Subscribe
Please try again
More View more
Real Time News
  • Heads Up:🇦🇺 Retail Sales MoM Final (JUN) due at 01:30 GMT (15min) Expected: -1.8% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2021-08-04
  • The US Dollar could lose some ground against ASEAN currencies such as the Singapore Dollar and Thai Baht amid slowing Emerging Asia Covid case growth. Softer US NFPs may also bode well.Get your market update from @ddubrovskyFX here:https://t.co/jnJ80hQR4P https://t.co/n8UXm0mUeb
  • This week's non-farm payrolls (NFP) will likely be key to gauge the direction of gold as markets look ahead to the Jackson Hole Economic Symposium. Get your market update from @FxWestwater here:https://t.co/WmTrqe0xJN https://t.co/BO2uwXMAko
  • Will be discussing the Japanese #Yen and what you can expect throughout this week in about 15min! Signup for the webinar in the link below! https://t.co/Jbtd2hc5nU
  • Please join @ddubrovskyFX at 20:00 EST/00:00 GMT for a webinar on what other traders' buy/sell bets say about price trends. Register here: https://t.co/AzOQioRZER https://t.co/uy1tAhiwGY
  • RT @FxWestwater: $NZDUSD Wedge Breakout Back in Play on Stellar Q2 Jobs Report Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/08/03/NZDUSD-Wedge-Breakout-Back-in-Play-on-Stellar-Q2-Jobs-Report.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/YAIqqu5RDB
  • 🇦🇺 Markit Services PMI Final (JUL) Actual: 44.2 Previous: 56.8 https://www.dailyfx.com/economic-calendar#2021-08-03
  • $AUDNZD likely to attempt closing at a new 2021 low over the remaining 24 hours following the stellar New Zealand jobs report The December 2020 low has been further exposed at 1.0418 since July's #RBNZ rate decision New Zealand bond yields on the rise https://t.co/ipjwkSNt9n https://t.co/ncQX4hL8G3
  • Strong jobs report lifts $NZD - Money markets pricing in a 93% probability of a 25bps hike at the August meeting (previously 77%) - Over the forecast horizon, the RBNZ had projected (in the May MPS) the unemployment rate to gradually fall to 4.3% https://t.co/G5Ejzl2H6L
  • #NZDUSD cautiously higher after solid New Zealand jobs report Unemployment rate declined to 4.0% in Q2 from 4.7% prior (vs 4.4% anticipated) Job gains were at 1.7% y/y vs 1.2% expected Data seems to be supporting the case for a less-dovish #RBNZ given the cease to QE recently https://t.co/XmzhuLXh1H
Forex News: BoJ Moderately Expands Monetary Policy, USD/JPY Unchanged

Forex News: BoJ Moderately Expands Monetary Policy, USD/JPY Unchanged

Gary Kerdus,

THE TAKEAWAY: Bank of Japan increased Asset Purchase Fund by 10 trillion yen > BoJ to discuss inflation target next meeting > USD/JPY little changed

The Japanese yen was little changed as the Bank of Japan increased their Asset Purchase Fund to 76 trillion yen, up from 66 trillion previously, while the Credit Loan program was left unchanged at 25 trillion yen bumping the total asset and credit facility program to 101 trillion yen. The key benchmark rate was left unchanged at 0.10%. Policy officials said they would increase Japanese government bond (JGB’s) purchases by 5 trillion yen and also increase purchases of treasury securities by 5 trillion.

The central bank said they would ‘examine’ the inflation target next meeting possibly implying that newly elected Prime Minister Abe may meet with BoJ officials to discuss his plans to get the Japanese economy to produce two percent inflation. Abe also said that he would like to bring down the value of the currency, boost export growth and put an end to deflation.

Forex traders likely responded with little selling effort on the yen as the Japanese currency has been aggressively sold leading up to Abe’s election victory. This round of asset purchase expansion offered little surprise to markets, but next month’s meeting may produce a substantial boost to FX volatility as Abe has a chance to influence the central bank to get more aggressive on their dovish monetary policy efforts.

USD/JPY, 1 Minute Chart

Forex_News_BoJ_Moderately_Expands_Monetary_Policy_USDPY_Unchanged_body_Picture_1.png, Forex News: BoJ Moderately Expands Monetary Policy, USD/JPY Unchanged

USD/JPY, Daily Chart

Forex_News_BoJ_Moderately_Expands_Monetary_Policy_USDPY_Unchanged_body_Picture_4.png, Forex News: BoJ Moderately Expands Monetary Policy, USD/JPY Unchanged

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

DISCLOSURES