OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: BOJ swings for the fence - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that with the BOJ radically outperforming prior market expectations of the scale and magnitude of its additional monetary accommodation, JPY slumped almost -3.5% against the USD on Thursday with the damage wrought on the JPY from the crosses considerably higher.

Notably, he adds that a renewed bout of JPY selling on the crossed also underpinned the majors against the dollar. On other fronts, the ECB and BoE stood firm as expected with the ECB’s Draghi further underpinning the common currency by noting that the central bank stood ready to act on growth and added that Cyprus did not serve as a “template” for future bailouts. Looking ahead he writes, “Market attention will turn to the US nonfarm numbers with the markets looking at a consensus+200k increase but this may have been shaded lower to around the +170k area following the disappointing initial claims and ADP numbers in the last two sessions.”

Forex: AUD/USD trimming losses, around 1.0435/40

The Aussie dollar is trading in the upper end of today’s range around 1.0435/40, despite the risk-off mode prevailing in the markets....
Read more Previous

Forex Flash: Adding long USD/JPY to our Asia FX portfolio - Nomura

Nomura strategists Craig Chan and Wee Choon Teo have decided to add a long USD/JPY position to their Asia FX portfolio.
Read more Next
Start livechat