Eurostoxx flatGermany DAX +0.1%France CAC 40 +0.1%UK FTSE flatSpain IBEX -0.5%Italy FTSE MIB +0.1%This comes as European stocks have to balance out the solid gains from Wall Street yesterday, alongside the negative mood in US futures today. S&P 500 futures are now...
France October preliminary CPI +4.0% vs +4.0% y/y expected
Prior +4.9%HICP +4.5% vs +4.5% y/y expectedPrior +5.7%Services inflation continues to hold up but the declines elsewhere in food, energy, and prices of manufactured products is helping to contribute to lower consumer prices at least in France. This is a welcome...
FX option expiries for 31 October 10am New York cut
There are a couple on the day to take note of, as highlighted in bold.The first being for EUR/USD at the 1.0600 mark, which could just keep price action more sticky in and around the figure level before rolling off later in the day. The euro will be a focus point amid...
USD/JPY stays underpinned on Ueda’s press conference
USD/JPY daily chartI think where USD/JPY ends up trading today will be one to be mindful about for markets and dollar sentiment in particular. The BOJ disappointment is keeping hopes alive for a push above the 150.00 level but so far, buyers are still remaining rather...
Japan’s Matsuno: Monetary policy falls under the jurisdiction of the BOJ
BOJ decision meant to enhance flexibility in forming long-term interest rates smoothlyThey don't want to be seen overstepping but as is tradition in Japan, the government and BOJ are more or less one entity. Yes, there is a segregation in responsibilities but in terms...
GBPUSD Technical Analysis – The bearish bias is still intact
GBPUSD Fundamental Analysis USThe Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher, and the Dot Plot showed that the FOMC still expects another rate hike by the end of the year with less rate cuts...
BOJ’s Ueda: Next spring’s wage negotiations will be an important factor
Believes that can anticipate a certain level of wage hike next yearBut difficult to say if can achieve continuous cycle of wage hikes and price increasesUntil achievement of inflation target is in sight, both YCC and NIRP will be in placeThe order of end of either...
Germany September retail sales -0.8% vs +0.5% m/m expected
Prior -1.2%It seems like you can always count on German retail sales to disappoint estimates these days. It is once again another monthly decline and exemplifies the negative traction among consumption activity and domestic demand. But this is all part of Q3 data,...
Germany September import price index +1.6% vs +0.7% m/m expected
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Ueda: Don’t think long-term rates will come under pressure to exceed 1%
Today's steps came partly as a result of rising US long-term ratesStrength of inflation, wages still not sufficientInflation outlook is slightly improved but can't say with full confidence that it can be sustainedBut we are getting gradually closer to achieving the...
BOJ governor Ueda: Will patiently continue monetary easing with decided new measures
Will closely scrutinise economy, price situation by examining wages and pricesMain reasons for inflation outlook overshoot compared to July are longer-than-expected effects of price pass-through and rising oil pricesBut we are not in a situation to foresee sustainable...
France Q3 preliminary GDP +0.1% vs +0.1% q/q expected
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Heads up: BOJ governor Ueda press conference coming up later
There will definitely be a lot to say, now especially as the Japanese yen has fallen in the aftermath of their policy decision today. But I reckon Ueda will continue to maintain that they do acknowledge firmer inflation developments but they're not at a point yet to...
Eurozone inflation in focus in the session ahead
Japanese yen bulls were left disappointed by the BOJ once again as the central bank continues to kick the can down the road. Each and every time they could have made a statement to markets, they decide to back down and play it safe instead. It has been the case ever...
Dollar looks to recoup losses in trading today
The dollar lost some ground to start the new week as a better risk mood and a fall in USD/JPY overnight did not help with trading sentiment yesterday. The latter owed to growing market expectations of a shift higher in the 10-year JGB yields ceiling by the BOJ....
The BOJ underdelivers once again
Heading into the policy decision, market expectations were brought up in anticipating a change to the 10-year JGB yields ceiling i.e. from 1% to perhaps 1.25% or 1.50%. However, the BOJ instead chose to keep the focus on the 1% mark by making it a sort of point of...
ForexLive Asia-Pacific FX news wrap: BOJ formalises 1% 10year JGB yieldcap, USD/JPY to 150
USD/JPY retraced much, but not all, of its overnight move lower in the lead-up to the Bank of Japan statement. The USD traded a touch higher against other major FX also. The yield on the 10 year JGB approached 1.0% ahead of the statement, following the Nikkei report...
Bank of Japan October 31 Statement – full text
Central Banks <!--> --> <!--> --> <!--> Full text:Also, this added to it:As I said earlier:The last time the Bank of Japan allowed an expanded range for the 10 year JGB yield tolerance band the Bank explained this was to make ultra-easy policy...
USD/JPY jumped back to 150 on the Bank of Japan statement
The last time the Bank of Japan allowed an expanded range for the 10 year JGB yield tolerance band the Bank explained this was to make ultra-easy policy more sustainable. Today the BOJ set the 1% cap more firmly in place, cementing that reasoning, it looks like loose...
Bank of Japan Monetary Policy Statement: Changes language around 1% 10year JGB cap
BOJ October 30 / 31 Monetary Policy Board meeting decision - no extension of the cap to 1.5% but instead formalised the 1% cap. Keeps short-term interest rate target at -0.1% Keeps 10-year JGB yield target around 0% Widens reference range to 1.0% point up and down...