OctaFX | OctaFX Forex Broker
Open trading account
Back

Flash: No change at BoJ as Abenomic stutters - Societe Generale

FXstreet.com (Barcelona) - Societe Generale strategist Alvin Tan notes that this morning, the BOJ pledged to maintain its commitment to double the monetary base between 2012 and 2014, so no change in policy.

He adds that the BOJ cited the encouraging upturn in economic activity and financial markets to support the current policy, but remained silent on the recent sharp rise in Japanese bond yields. Keep a strategic short JPY position. However, he writes, “Abenomics has not been entirely a runaway success looking at the Japanese trade data this morning. April exports grew significantly less than expected while imports surged on more pricey energy imports caused by yen depreciation, thus widening the trade deficit.”

US: Existing home sales rise less than expected in April

Existing home sales rose 0.6% in April to a seasonally adjusted annual rate of 4.97 million, the highest rate since November 2009, according to the National Association of Realtors.
Read more Previous

Flash: The Swiss franc has continued to weaken - BBH

Brown Brothers Harriman analysts note that the euro is at 2-year highs against the Swiss franc and although the euro has been appreciating since mid-April, the trend has accelerated.
Read more Next
Start livechat