|
|
|
|
2013-03-04 01:18 GMT
BoJ Kuroda will do whatever it takes to end deflation
The confirmation hearing for Mr. Kuroda as the new chief of the BOJ is taking place in the parliament, and the first comments are crossing the wires. Among the standout headlines, he said that monetary policy will be deployed to conquer deflation, adding that BOJ has not bought enough assets to end deflation, also saying that the BOJ independence is secured by law. Lastly, there was some notorious comments on his assertiveness to implement policies, although with little effects to the Yen so far, as he also said - 'a la Draghi Japanese version' - that he will do whatever it takes to end deflation.
He also noted: "The BOJ must clearly send out the message, through communication with markets, that it will do whatever it can to beat deflation." On the different options to ease policy further, BoJ Kuroda said the most natural way is to increase JBG purchases, buying longer-dated JGBs, although additional market behaviour inspection on potential repercussions should first be examined. He continued saying that the BOJ must expand economic stimulus both through assets volume increases and the type of assets it buys. Also that he might consider a new era of open-ended asset buying soon. To sum up, his comments sound very much as a recipe for disappointment - expectations being set very high - unless the bank starts executing an aggressive balance sheet expansion through domestic long term bond purchases and other risky assets in the coming months. If next April 4 BoJ meeting sees no much changes in policies, there might be more risk of Yen appreciation.-FXstreet.com
|
|
N/A
E.M.U. Eurogroup meeting
2013-03-04 09:30 GMT
United Kingdom. PMI Construction (Feb)
2013-03-04 10:00 GMT
E.M.U. Producer Price Index (YoY) (Jan)
2013-03-04 13:00 GMT
United States. FOMC Member Yellen Speech
|
2013-03-04 05:31 GMT
GBP/USD below 1.5050 ahead of UK Construction PMI
2013-03-04 05:20 GMT
EUR/USD wrestling around 1.30
2013-03-04 04:54 GMT
AUD/USD breaks down to 8-month lows
2013-03-04 04:22 GMT
Kiwi prints fresh 2013 lows
|
|
|
|
|
|
EURUSD
|
HIGH
1.30309
|
LOW
1.30017
|
BID
1.30109
|
ASK
1.30117
|
CHANGE
-0.04%
|
TIME
08:18:34
|
|
|
|
|
OUTLOOK SUMMARY
Down
|
TREND CONDITION
Upward
penetration
|
TRADERS SENTIMENT
Bullish
|
IMPLIED VOLATILITY
Medium
|
|
|
|
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: We expect next barrier on the upside at 1.3046 (R1). Surpassing of this level might enable our initial target at 1.3080 (R2) and any further gains would then be limited to last resistive structure at 1.3114 (R3).
Downwards scenario: Next support level locates at 1.2965 (S1), breaching of this level would provide a signal of possible price regress towards to next target at 1.2933 (S2). If the price manages to overcome it, our final support for today could be found at 1.2900 (S3).
Resistance Levels: 1.3046, 1.3080, 1.3114
Support Levels: 1.2965, 1.2933, 1.2900
|
|
GBPUSD
|
HIGH
1.50437
|
LOW
1.50222
|
BID
1.50325
|
ASK
1.50338
|
CHANGE
-0.01%
|
TIME
08:18:35
|
|
|
|
|
OUTLOOK SUMMARY
Down
|
TREND CONDITION
Upward
penetration
|
TRADERS SENTIMENT
Bullish
|
IMPLIED VOLATILITY
Medium
|
|
|
|
Upwards scenario: Our technical outlook for the medium-term perspective remains bearish oriented however a break through next resistance level at 1.5049 (R1) would enable corrective action and might expose our next targets at 1.5087 (R2) and 1.5125 (R3) in potential.
Downwards scenario: While instrument trades below the next resistance level, our medium-term bias forecast would be negative. Penetration below the support level at 1.4984 (S1) might open the way towards to lower targets at 1.4946 (S2) and 1.4909 (S3).
Resistance Levels: 1.5049, 1.5087, 1.5125
Support Levels: 1.4984, 1.4946, 1.4909
|
|
USDJPY
|
HIGH
93.723
|
LOW
93.284
|
BID
93.416
|
ASK
93.421
|
CHANGE
-0.13%
|
TIME
08:18:36
|
|
|
|
|
OUTLOOK SUMMARY
Up
|
TREND CONDITION
Up
trend
|
TRADERS SENTIMENT
Bearish
|
IMPLIED VOLATILITY
Medium
|
|
|
|
Upwards scenario: Hourly chart consensus remains in play. Buyers might face next challenge at 93.72 (R1). Break here is required to establish bullish pressure, targeting 93.92 (R2) en route towards to last resistance for today at 94.12 (R3).
Downwards scenario: The downside trend evolvement is limited now to the next support level at 93.27 (S1), break here would put near-term bulls on hold. Marks at 93.07 (S2) and 92.86 (S3) is the next supportive bastion on the way.
Resistance Levels: 93.72, 93.92, 94.12
Support Levels: 93.27, 93.07, 92.86
|
|
|
MARKETING COMMUNICATION DISCLAIMER: The content of this material is a marketing communication, and not independent investment research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material and it is not subject to any prohibition on dealing ahead of its dissemination.
The material is for general information purposes only (whether or not it states any opinions). It does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) legal, financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by FX Central Clearing Ltd. (“FXCC”) or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
Although the information set out in this marketing communication is obtained from sources believed to be reliable, FXCC makes no guarantee as to its accuracy or completeness. All information is indicative and subject to change without notice and may be out of date at any given time. Neither FXCC, nor the author of this material shall be responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.
This material may include charts displaying financial instruments' past performance as well as estimates and forecasts. Any information relating to past performance of an investment does not necessarily guarantee future performance.
Unless otherwise stated, the prices used in the examples are FXCC’s own prices, and not those of third parties.
RISK WARNING: Trading in Forex and Contracts for Difference (CFDs) is highly speculative
and involves substantial risk of loss. It is possible to lose all your capital.
Forex and CFDs may not be suitable for all investors. Only invest with money you
can afford to lose. Please ensure you fully understand the risks involved before
investing. Seek independent advice if necessary.
|
|
