OctaFX | OctaFX Forex Broker
Open trading account

Forex Flash: USD/JPY looks neutral ahead - BTMU

FXstreet.com (Barcelona) - Bank of Tokyo Mitsubishi UFJ analysts are neutral USD/JPY for the week ahead and see spot moving within a range between 94.50 and 97.50.

The begin by noting that the market expectation for the next Governor of the BoJ and recovery of the U.S.
economy supported the recent dollar buying. However, they note that the first monetary policy meeting is scheduled on April 3-4 and feel that they should wait for his first reaction for two weeks before reading any further. This week they note that USD/JPY did not respond to the improvement of the retail sales figures and next month the upcoming non-farm payroll figure may encourage further dollar buying. They write, “The FOMC and the chairperson's press conference may be no surprise and no policy change. If the next Governor calling for members of the board to make his first decision at the BoJ, the market expectation may be growing further and the USD/JPY may be hiking close to the upper-ceiling.”

Commodities Brief – Precious metals pullback despite USDIX in retreat

Gold prices had edged slightly higher overnight as the USD index retreated off a 7.5 month maximum Friday. As the yellow metal loses its appeal as a safe haven with the steady trickle of positive data recently, such a move certainly has to lend confidence to gold bulls. However, in recent minutes a move up to he 1594 region (session high) was stonewalled, dragging the price back to USD $1591.38 per oz. in these moments. Later today the United States is set to release some key Consumer Price Index data along with Industrial Production that will certainly shape market sentiment towards the precious metal Friday.
Read more Previous

Forex Flash: US Q1 growth but drag expected in Q2 & 3 - Nomura

Nomura economists note that Recent data point to stronger growth in Q1, but slower government spending adds to fiscal drag in Q2 and Q3.
Read more Next
Start livechat