IronFX Daily Commentary by Charalambos Pissouros | 24/05/2016
May 24, 2016 8:00 am
Japan’s Aso defines intervention criteria • USD/JPY moves of 5 JPY in either direction over 2 days is “disorderly”. • He also added that it could be good for the pair to stabilize at around 109. • After G7, the likelihood for intervention is lower, but if we see excessive moves it may be tolerated. • Given that Japan’s FinMin mentioned a specific level for USD/JPY, the pair may gyrate around that area in the short-term. • As for the medium term, speculation for further BoJ easing could bring JPY under selling interest.
Today: • Germany: ZEW survey for May. Both indices are exp. to rise, which could support EUR. Also, the final GDP for Q1 is coming out. • Sweden: Unemployment rate for Apr. is exp. to stay unchanged. • US: New home sales for Apr. are forecast to rise. • Speakers: ECB Executive Board member Peter Praet and BoE Gov. Carney, who testifies on the May Inflation Report.
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Japan’s Aso defines intervention criteria
• USD/JPY moves of 5 JPY in either direction over 2 days is “disorderly”.
• He also added that it could be good for the pair to stabilize at around 109.
• After G7, the likelihood for intervention is lower, but if we see excessive moves it may be tolerated.
• Given that Japan’s FinMin mentioned a specific level for USD/JPY, the pair may gyrate around that area in the short-term.
• As for the medium term, speculation for further BoJ easing could bring JPY under selling interest.
Today:
• Germany: ZEW survey for May. Both indices are exp. to rise, which could support EUR. Also, the final GDP for Q1 is coming out.
• Sweden: Unemployment rate for Apr. is exp. to stay unchanged.
• US: New home sales for Apr. are forecast to rise.
• Speakers: ECB Executive Board member Peter Praet and BoE Gov. Carney, who testifies on the May Inflation Report.
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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