Morning Report: Yen Rebuilds As BOJ Keep Steady





Wed, 21 Jan 2015

  • This morning, the Japanese yen is the big mover after the Bank of Japan kept their policy unchanged, but did downgrade inflation expectations. The upshot is a near complete reversal of yesterday’s gains, with the USD/ JPY down 0.88%. Other yen pairs are following suit, but the AUD/ JPY is holding up better, down just 0.58%.

21-01-2015 08-01-22


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  • The Aussie is holding up well, helped by its isolation form the European jitters over the ECB’s QE plans. The NZD/ USD is following suit.

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  • Elsewhere, the dollar pairs are mixed to weak, with the USD/ CAD pulling back following big gains yesterday. The dollar index is pulling back from yesterday’s highs.

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  • Gold continues to travel well ahead of the ECB meeting.

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  • Stock markets are mixed with the S&P 500 largely unchanged this morning.

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Coming up today:
  • Coming up today we have the release of the minutes from the last MPC meeting, alongside claimant count change and average earnings data.
  • From 13.30 we switch to North America with Canadian wholesale sales and US building permits.
  • At 15.00, we have the Canadian rate policy announcement with the press conference at 16.15.
Trade Idea:
  • We can only guess what the ECB will actually announce tomorrow. Many analysts have put forward their expectations, but the actual release will come down to Draghi and co. Therefore, the short term direction is highly uncertain. Further out, there may be some value in betting on a continuation of the downside we’ve seen over recent months, especially against the British pound.

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This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.


21-01-2015 08-07-46


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