JAPANESE YEN (JPY/USD) Strategy : 11.08.2016
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Japanese Yen appreciated by 0.61 percent yesterday owing to US Dollar weakness. Moreover, markets discounted the robust release of current account data from the nation. Current account
surplus jumped to JPY 1.65 trillion, up from JPY 1.45 trillion a month earlier. This figure beat the forecast of JPY 1.60 trillion and marked a 3-month high.
BoJ monetary meeting outcome has played with the investors mind. The government approved 13.5 trillion yen ($132.04 billion) in fiscal measures, with 7.5 trillion yen in spending by the national
and local governments as part of Prime Minister Shinzo Abe's 28 trillion yen fiscal stimulus package, announced last week in a bid to boost the country's flagging economy.
OUTLOOK
Japanese yen is expected to trade slightly positive owing to DX weakness. Risk appetite continues to be low as investors feared the BoJ was out of easing ammunition and might leave it to fiscal
policy to stimulate the economy.
BoJ Outlook
Inflation outlook for fiscal 2017 and 2018 are roughly unchanged from initial estimates.
Central bank to ease more to hit 2 percent inflation target if necessary.
BoJ to up dollar lending facility to y24 bln from y12 bln
BoJ to support firms, banks in securing dollar funds
Kuroda orders staff to examine negative rate impact
Strong uncertainty on timing for hitting 2 pct target mainly due to overseas risks.
Economic indicators to be released on 11-Aug-16
Indicator Country Time (IST) Actual Forecast Previous Impact
Unemployment Claims US 6:00pm - 272K 269K High
Import Prices m/m US 6:0pm - -0.2% 0.2% Medium
Mortgage Delinquencies US 7:30pm - - 4.77% Medium
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Free Currency Tips : Join Our Whatsapp No : 9841986753
Japanese Yen appreciated by 0.61 percent yesterday owing to US Dollar weakness. Moreover, markets discounted the robust release of current account data from the nation. Current account
surplus jumped to JPY 1.65 trillion, up from JPY 1.45 trillion a month earlier. This figure beat the forecast of JPY 1.60 trillion and marked a 3-month high.
BoJ monetary meeting outcome has played with the investors mind. The government approved 13.5 trillion yen ($132.04 billion) in fiscal measures, with 7.5 trillion yen in spending by the national
and local governments as part of Prime Minister Shinzo Abe's 28 trillion yen fiscal stimulus package, announced last week in a bid to boost the country's flagging economy.
OUTLOOK
Japanese yen is expected to trade slightly positive owing to DX weakness. Risk appetite continues to be low as investors feared the BoJ was out of easing ammunition and might leave it to fiscal
policy to stimulate the economy.
BoJ Outlook
Inflation outlook for fiscal 2017 and 2018 are roughly unchanged from initial estimates.
Central bank to ease more to hit 2 percent inflation target if necessary.
BoJ to up dollar lending facility to y24 bln from y12 bln
BoJ to support firms, banks in securing dollar funds
Kuroda orders staff to examine negative rate impact
Strong uncertainty on timing for hitting 2 pct target mainly due to overseas risks.
Economic indicators to be released on 11-Aug-16
Indicator Country Time (IST) Actual Forecast Previous Impact
Unemployment Claims US 6:00pm - 272K 269K High
Import Prices m/m US 6:0pm - -0.2% 0.2% Medium
Mortgage Delinquencies US 7:30pm - - 4.77% Medium