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Bank of Japan State of Play: Easing To Fight Risks With Govt
Intraday stops driving USD/JPY lower
Update: BOJ Shirakawa: Easing To Preempt Downside Risks
Norway’s July retail sales: +1.4%, much higher than expected
BOJ Shirakawa: Today’s Easing To Preempt Downside Risks
China’s main stock index rises 1.6% on the day
Minezaki: FX moves are severe; Govt and BoJ will work together to respond
Traders expect intervention if USD/JPY falls back towards lows
Quick look at the order books
Limited European service due to UK holiday
ForexLive Asian Session Wrap – We waited in earnest for the BOJ to only disappoint..
US NABE Survey: Deflation Greater Risk To US S-Term,Infln L-T
Not really sure what they thought that would achieve..
BOJ minutes not meeting market hopes
BOJ keeps overnight call target unchanged at 0.10%
NZ Business Confidence 16.4% in August
Just a reminder – Eur/Gbp month-end buying tomorrow
Nikkei up 3.18%
Australia: HIA New Home Sales -7.00% MoM
Australia Q2 Company Gross Operating Profit +18.9% QoQ

Bank of Japan State of Play: Easing To Fight Risks With Govt

Posted:

TOKYO (MNI) - The Bank of Japan's decision on Monday to inject cash into the banking system at a super-low overnight rate for six-month funding follows an unusually specific call from Prime Minister Naoto Kan to conduct "flexible" monetary policy. ...

Intraday stops driving USD/JPY lower

Posted:

Traders who bought earlier today in expectation of something significant happening in USD/JPY are being stopped out, driving USD/JPY to a low of 84.73 so far. Just to reiterate what we were hearing earlier in the day, big bids are expected from hedge funds between 84.30/50 and dealers expect the BoJ ...

Update: BOJ Shirakawa: Easing To Preempt Downside Risks

Posted:

...

Norway’s July retail sales: +1.4%, much higher than expected

Posted:

Although a relatively minor European economy, this is a very strong number and is much higher than the +0.3% forecast. On a day where regional Asian stockmarkets rose by almost 2%, I would have expected the risk-on trades to have appreciated much faster as it seems like a good-news day. If ...

BOJ Shirakawa: Today’s Easing To Preempt Downside Risks

Posted:

TOKYO (MNI) - Bank of Japan Governor Masaaki Shirakawa said on Monday that the BOJ board's decision to ease credit further was a preemptive strike against a U.S. downturn and other emerging downside risks that could hurting Japan's modest economic recovery. ...

China’s main stock index rises 1.6% on the day

Posted:

Minezaki: FX moves are severe; Govt and BoJ will work together to respond

Posted:

Japan's deputy FinMin is now on the newswires. He will be aware I presume that all talk and no action will be severely treated by the financial markets.

Traders expect intervention if USD/JPY falls back towards lows

Posted:

It is unlikely that the BoJ will leave matters as they stand after today's rather insipid developments. If the market insists now on testing their resolve, traders expect the BoJ to enter the market and buy USD/JPY at 84.00, at the latest. That's why the bigger hedge funds have placed their ...

Quick look at the order books

Posted:

EUR/USD: We expect a 1.2700/1.2800 range based on the orders reported earlier this morning USD/JPY: Large bids reported 84.50 through 84.30 AUD/USD: Stop-loss buy orders above .9080 EUR/GBP: Stops reported above .8250 (Central Bank demand expected today/tomorrow) USD/CHF: Large optionality 1.0200

Limited European service due to UK holiday

Posted:

Gerry has the day off with the UK markets closed for a public holiday. If anything dramatic happens and the newswires suddenly light up, then I'll keep you abreast until Jamie comes in.

ForexLive Asian Session Wrap – We waited in earnest for the BOJ to only disappoint..

Posted:

NZ Trade Deficit NZ$ 186m in July NZ Business Confidence 16.4% in August vs July 27.90% BOE's Bean: More easing may be necessary; Regulation, not monetary policy to ward off boom/bust Deficit Cost Declines Give Obama Stimulus Clinton Couldn't Get, from Bloomberg Australia Q2 Company Gross Operating Profit +18.9% QoQ Australia: HIA July New Home Sales ...

US NABE Survey: Deflation Greater Risk To US S-Term,Infln L-T

Posted:

--Just Under 50% Believe Fed To Begin Tightening Too Late --Most Expect Debt Restructuring By 'Club Med' Or Outside funding Aid By Brai Odion-Esene WASHINGTON (MNI) - The majority of top U.S. economic forecasters believe that the greater risks facing the nation's economy are deflation in the ...

Not really sure what they thought that would achieve..

Posted:

Well yet another buy the rumour, sell the fact USD/JPY 85.43 EUR/JPY 108.90 Nikkei up 2.35% Either they are dafter than I thought or they are going to try and catch a short market at the wrong level...but that might be a bit too conspiratorial

BOJ minutes not meeting market hopes

Posted:

and there's more says forex, stockmarket have recently been unstable says uncertainty about future, esp for US economy , has heightened more than before important to pull Japan out of deflation

BOJ keeps overnight call target unchanged at 0.10%

Posted:

says policy board decision on call rate was unanimous will expand volume of funds to be offered under fixed rate market operation vol of funds will be raised to Yen 30 trn from Yen 20 trn as expected to offer fixed rate loans to banks with maturity of 6 mths keeps economy asessment unchanged says ...

NZ Business Confidence 16.4% in August

Posted:

vs July 27.90%

Just a reminder – Eur/Gbp month-end buying tomorrow

Posted:

Gerry mentioned last week that we may have seen a bit of the usual month-end buying on friday but there was minimal sign of it and Gerry had forgotten that tomorrow (tuesday) is the last day when it usually goes through...think he took the wrong pills...;-)