IronFX Daily Commentary by Charalambos Pissouros | 08/04/2016
April 8, 2016 9:15 am
Is the scenario of a BoJ currency intervention likely? • JPY has appreciated significantly vs its major counterparts recently. • PM Abe said that nations should refrain from interventions in FX markets. • But other officials said the gov. will take steps if needed to counter one-sided currency moves. • Market chatter is that it is not a matter of whether the BoJ will intervene or not, but rather at what level, if these moves continue. • Important levels to watch out for in USD/JPY may be 105 and 100. Today: • Germany: Trade balance for Feb. Usually not a major market mover. • UK: Industrial output for Feb. is exp. to slow down. This could prove GBP-negative. Also, the trade balance for Feb. • Canada: Unemployment rate for Mar. is exp. to remain unchanged, while net change in employment to turn positive. This may support CAD at the release. • Speakers: New York Fed President William Dudley. • Join us for more technical and fundamental analysis: http://www.ironfx.com To get the latest Forex trading news you should: • Download the IronFX Research app: http://goo.gl/jhQIxO • Like us on Facebook: https://www.facebook.com/IronFX • Follow us on Instagram: https://www.instagram.com/ironfx • Follow us on LinkedIn: https://goo.gl/wSEbPN • Follow us on Twitter: https://twitter.com/IronFXGlobal • Circle us on Google+: https://www.google.com/+Ironfxglobal • Subscribe to our Channel: http://bit.ly/1foFmCU
Is the scenario of a BoJ currency intervention likely?
• JPY has appreciated significantly vs its major counterparts recently.
• PM Abe said that nations should refrain from interventions in FX markets.
• But other officials said the gov. will take steps if needed to counter one-sided currency moves.
• Market chatter is that it is not a matter of whether the BoJ will intervene or not, but rather at what level, if these moves continue.
• Important levels to watch out for in USD/JPY may be 105 and 100.
Today:
• Germany: Trade balance for Feb. Usually not a major market mover.
• UK: Industrial output for Feb. is exp. to slow down. This could prove GBP-negative. Also, the trade balance for Feb.
• Canada: Unemployment rate for Mar. is exp. to remain unchanged, while net change in employment to turn positive. This may support CAD at the release.
• Speakers: New York Fed President William Dudley.
•
Join us for more technical and fundamental analysis: http://www.ironfx.com
To get the latest Forex trading news you should:
• Download the IronFX Research app: http://goo.gl/jhQIxO
• Like us on Facebook: https://www.facebook.com/IronFX
• Follow us on Instagram: https://www.instagram.com/ironfx
• Follow us on LinkedIn: https://goo.gl/wSEbPN
• Follow us on Twitter: https://twitter.com/IronFXGlobal
• Circle us on Google+: https://www.google.com/+Ironfxglobal
• Subscribe to our Channel: http://bit.ly/1foFmCU
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