OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: BoJ incumbents suggest more JGB investment - Nomura

Nomura Strategist Yujiro Goto notes that BOJ deputy governor candidates, Mr. Iwata and Mr. Nakaso, have given speeches in parliament today.

Mr. Iwata‟s stance was clearly more dovish than the current BOJ leader as expected, while Mr. Nakaso was less dovish than Mr. Iwata. In this regard, Goto feels that there were little surprises from their speeches. However, he notes that Mr. Iwata clearly mentioned that the BOJ law needs to be revised, while Mr. Kuroda yesterday refused to provide his view on the BOJ law change because it should be decided by lawmakers. He writes, “Mr. Iwata also said he should take responsibility if the Bank is unable to meet its inflation target in two years and the best way to take responsibility is to resign, suggesting he may step down if the Bank fails to achieve its target.” He feels that this is a stronger commitment than Mr. Kuroda and Mr. Nakaso and it has become clearer that Mr. Iwata will be the most dovish board member if he is nominated.

Commodities Brief – Silver breaches 29.00 level, WTI crude falls as Friday payroll data eyed

Gold has jumped at the onset of American trading Tuesday, as the USD index continued to wane amidst the speculation of a slowdown in the US Economy – ISM Manufacturing is slated for release at 15:00 GMT. The yellow metal was ultimately capped at 1586.05 however (intraday maximum), held in check by its 20-day SMA. Despite the recent pullback however, the MACD indicators look positive ahead of the US open, and the price is being protected by the 200-day SMA. At the time of writing, gold has settled at USD $1582.40 per oz. As the end of the week draws closer, the investors will look to the Nonfarm Payrolls in the United States as the paramount barometer for the near-term state of the US economy.
Read more Previous

Forex: EUR/USD gets ready for US ISM non-manufacturing

Although not quite the biggest event on the weekly calendar, the US ISM non-manufacturing index is the last significant piece of data today. So, the EUR/USD is acting accordingly, already at 1.3050 and eyeing a possible return to the daily high of 1.3076.
Read more Next
Start livechat