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
  • one hour from now - deep dive on the $USD ahead of #NFP https://www.dailyfx.com/webinars/140187219 https://t.co/4L6hDLyOyV
  • 🇨🇦 Building Permits MoM (JUN) Actual: 6.9% Expected: 5.5% Previous: -12.9% https://www.dailyfx.com/economic-calendar#2021-08-04
  • Join @JStanleyFX at 9:30 EST/13:30 GMT for your mid-week market update webinar. Register here: https://t.co/daghpCQ68Y https://t.co/AWnSbVT85m
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/lYpSmD9IbM
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.12%, while traders in France 40 are at opposite extremes with 79.03%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/6T0zA4e3sd
  • 🇺🇸 ADP Employment Change (JUL) Actual: 330K Expected: 695K Previous: 692K https://www.dailyfx.com/economic-calendar#2021-08-04
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.69% 🇦🇺AUD: 0.23% 🇬🇧GBP: 0.11% 🇪🇺EUR: -0.04% 🇨🇦CAD: -0.07% 🇨🇭CHF: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/AQCue68vUF
  • Heads Up:🇨🇦 Building Permits MoM (JUN) due at 12:30 GMT (15min) Expected: 5.5% Previous: -14.8% https://www.dailyfx.com/economic-calendar#2021-08-04
  • Heads Up:🇺🇸 ADP Employment Change (JUL) due at 12:15 GMT (15min) Expected: 695K Previous: 692K https://www.dailyfx.com/economic-calendar#2021-08-04
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/d0wJWewZ6q
Yen Slightly Weaker vs. US Dollar After BOJ Policy Announcement

Yen Slightly Weaker vs. US Dollar After BOJ Policy Announcement

Cheng Li,

Talking Point:

  • Bank of Japan Kept Monetary Policy Unchanged at November’s Monthly Meeting
  • Central Bank Will Aim for ¥60-70 Trillion Annual Increase in the Monetary Base
  • The Japanese Yen Narrowly Weakened vs. the US Dollar After the Announcement

USD/JPYrose slightly after the Bank of Japan monetary policy announcement. The central bank announced it will retain its plan for a ¥60-70 trillion annual increase in the monetary base. The Yen was slightly weaker against US Dollar, with USDJPY rising from 100.35 to 100.49. Similar price action was observed elsewhere, with EURJPY advancing from 134.71 to 134.90 and AUDJPY inching higher from 93.36 to 93.49.

The policy statement accompanying the announcement said the Bank expects Japan’s economy to continue a moderate recovery and repeated its intent to help Japan reach a sustained inflation rate of 2 percent in 2015. Policymakers added that CPI is likely to rise gradually. However, the outlook for Japan’s economy remains uncertain amid risks from European debt problems, developments in the emerging and commodity-extorting economies, and the pace of recovery in the US.

From here, the market will shift focus to a press conference fromBOJ Governor Haruhiko Kuroda, beginning at 6:30 GMT.US PPI data, as well as the weekly report on Initial Jobless Claims and the Philly Fed Manufacturing Activity gauge are likewise of note.

BoJ Rate Decision at a Glance

- Bank of Japan Policy Announcement: Unchanged - retain plan for ¥60-70 trillion annual rise in the monetary base.

Want to trade with proprietary strategies developed by FXCM? Find out how here.

USD/JPY 5-minute Chart: November 21, 2013

Yen_Slightly_Weaker_vs._US_Dollar_After_BOJ_Policy_Announcement_body_BoJ_Rate_Decision.png, Yen Slightly Weaker vs. US Dollar After BOJ Policy Announcement

New to Forex?Watch this video

-- Written by Cheng Li, DailyFX Research. Feedback can be sent to cli@fxcm.com

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

DISCLOSURES