888: It’s all about Japan

The Asian session yesterday was relatively quiet as the USD traded heavily across the board. Europe took over where Asia left off, initially selling USDs driving DXY down to sub 96.30 before sense prevailed and the rest of the session was spent grinding back towards the...

888: WTF (What The Fed): BoJ on the radar

It’s been a volatile and somewhat perplexing 24 hours in foreign exchange. Asia began with all eyes focused on the Australian CPI release – with the market using this as a proxy for whether the RBA will cut rates at their next meeting. The numbers were...

888: Short JPY unwinds, AU CPI up next

The focus in yesterday’s Asian session was on the USDJPY and XXXJPY pairs, as the market digested reports that the proposed fiscal stimulus plan may be circa 6 trillion yen – well short of the 20-30 trillion that was bandied about last week driving the USDJPY...

888: Dire UK data, Market too short JPY into BoJ

Last week ended on a sour note for GBP with the release of the PMI figures. These numbers are the beginning of the post Brexit sample data period rollout – and they don’t paint a pretty picture. Services PMI — 47.4, down from 52.3 in June...

888: Kuroda ‘comments’ overshadow ECB

USDJPY was the focus in the Asian session following reports that Abe’s fiscal stimulus package may be as much as 20t yen. The initial spike met exporter demand for yen in the mid 107s before drifting back to 107.00 area. Another attempt at 107.50 met solid...