OctaFX | OctaFX Forex Broker
Open trading account

Forex Flash: BOJ client survey points Mr. Kuroda as the most popular candidate - Nomura

As markets continue to be focused on the next head of the BOJ, Nomura conducted a client survey to understand market expectations. Nomura conclusions can be read below:

"Our survey showed that there is no clear consensus among investors on the most likely candidate, with Mr Kuroda being the most popular (41%), followed by Mr Muto (29%) and then Mr Iwata (24%)."

"We were surprised by the results, as some media sources including Reuters had suggested Mr Muto was a front-runner around the time we conducted our survey, although the situation remains very fluid with respect to media reports. Mr Muto is regarded as less dovish than Kuroda and Iwata. Hence, the nomination of Mr Muto would likely be bearish USD/JPY at least in the short term."

"In terms of foreign bond buying, only 27% expect it, a far lower figure than the 57% in our early-January poll. Our survey suggests that investors expect USD/JPY to trade higher. 55% expect USDJPY to trade above 95 as of mid-2013 while 72% expect it to trade above 95 as of end-2013. Target ranges for mid- and end-2013 were upgraded by 5pts from the previous survey."

Forex: EUR/JPY find bids ahead of 122.00

EUR/JPY is last trading at 122.88, off recent fresh Feb lows at 122.23 printed in late London session, as Japanese PM Abe lands in Washington and debate over who's going to be next BoJ gov starts heating up. The cross has lost -1.21% from previous Asia-Pacific open, mostly on Euro weakness, as EUR/USD dips to fresh 1-month lows at 1.3184 and breaks below ascending trend line coming from July's 1.20s lows.
Read more Previous

RBA Stevens: Easing more likely than tightening

RBA's Stevens has caused a bit of a sell-off in the Australian Dollar, after saying that while rates remain low, there is scope to cut further if needed, adding that it is fair to say easing more likely than tightening.
Read more Next
Start livechat