IronFX Daily Commentary by Charalambos Pissouros | 10/05/2016
May 10, 2016 9:02 am
Yen weakens as Tokyo fires another verbal shot • JPY weakened after Japan’s Finance Minister Aso reiterated that Tokyo is ready to intervene in the FX market if needed. Nikkei is up 2.1%. • With the May G7 meeting in Japan around the corner, we consider this as highly unlikely for now. • We believe that further verbal intervention is unlikely to have a major impact on JPY. • Until speculation for more easing by the BoJ reappears, JPY may remain sensitive to changes in risk sentiment and movements in equity markets.
Today: • Germany: Industrial production and trade balance, both for Mar. • Norway: CPI for Apr. is exp. to remain unchanged, above the Norges Bank target. This could prove NOK-positive. • UK: Trade deficit for Mar. is exp. to narrow. Usually not a major market mover. • US: NFIB small business optimism for Apr. JOLTS job openings and wholesale inventories, both for Mar.
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Yen weakens as Tokyo fires another verbal shot
• JPY weakened after Japan’s Finance Minister Aso reiterated that Tokyo is ready to intervene in the FX market if needed. Nikkei is up 2.1%.
• With the May G7 meeting in Japan around the corner, we consider this as highly unlikely for now.
• We believe that further verbal intervention is unlikely to have a major impact on JPY.
• Until speculation for more easing by the BoJ reappears, JPY may remain sensitive to changes in risk sentiment and movements in equity markets.
Today:
• Germany: Industrial production and trade balance, both for Mar.
• Norway: CPI for Apr. is exp. to remain unchanged, above the Norges Bank target. This could prove NOK-positive.
• UK: Trade deficit for Mar. is exp. to narrow. Usually not a major market mover.
• US: NFIB small business optimism for Apr. JOLTS job openings and wholesale inventories, both for Mar.
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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