Analysis and Recommendation: The USD/JPY gained 34 points as traders sent the yen spiraling down after the Bank of Japan said that it would continue its
The USD/JPY gained 34 points as traders sent the yen spiraling down after the Bank of Japan said that it would continue its stimulus program indefinitely. In a speech early today Governor Kudora said that the BOJ will maintain QQE for as long as needed to achieve 2% inflation in stable manner and will adjust policy as needed, looking at upside, downside risks to economy, prices. He said some weakness seen in output and that Core inflation likely around 1.25% for some time.
Shinzo Abe has hinted that he may delay increasing Japan’s consumption tax, saying the move would be “meaningless” if it inflicted too much damage on the country’s economy.
Prime Minister Shinzo Abe looks set lose a prime supporter, and cabinet ministers on Monday in the biggest setback since he took office in 2012, with media reports the trade and industry minister had resigned and Abe was considering replacing his justice minister.
Trade and industry Minister Yuko Obuchi, 40, the daughter of a prime minister and tipped as a future contender to become Japan’s first female premier, tendered her resignation over allegations her support groups misused political fund
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.
Today’s economic releases actual vs. forecast:
Cur. |
Event |
Actual |
Forecast |
Previous |
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Holiday |
Kenya – Mashujaa Day |
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JPY |
BoJ Governor Kuroda |
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Upcoming Economic Events that you should be monitoring:
Cur. |
Imp. |
Event |
Actual |
Forecast |
Previous |
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CNY |
Fixed Asset Investment |
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16.3% |
16.5% |
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CNY |
GDP (QoQ) (Q3) |
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1.8% |
2.0% |
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CNY |
GDP (YoY) (Q3) |
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7.2% |
7.5% |
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CNY |
Industrial Production |
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7.5% |
6.9% |
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USD |
Existing Home Sales |
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5.10M |
5.05M |
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USD |
Existing Home Sales |
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1.0% |
-1.8% |
Government Bond Auction
Date Time Country Auction
Oct 21 10:30 Spain 3 & 9M T-bill auction
Oct 21 11:00 Norway Bond auction
Oct 21 11:00 UK Auctions 2.75% 2024 Gilt
Oct 22 11:30 Germany Eur 2.0bn Aug 2046 Bund auction
Oct 23 11:03 Sweden I/L bond auction
Oct 23 17:00 US Announces 2/5/7Y Note & 2Y FRN auctions on Oct 28/29/30 & 29
Oct 23 17:30 Italy Announces details of BTPei/CTZ auctions on Oct 28
Oct 23 19:00 US 30Y TIPS auction
Oct 24 17:30 Italy Announces details of BOT auction on Oct 29