Back

Session Recap: Japan's Diet approves Boj new leadership; Yen unmoved

The Asian session of Friday failed to inspire traders, despite there had been growing expectations over possible Yen volatility on the outcome of the new BoJ governorship parliamentary voting.

The reality was that the last 8 hours of trading, other than confirming that indeed the trio of BoJ nominees will enjoy new duties at the helm of the central bank, the session will go down without guts or glory.

No currency has shown any significant move to report, with tight consolidations the name of the game. EUR/USD is marginally higher at 1.3020 after strong short-covering noted, USD/JPY trades unchanged at 96.15, GBP/USD is capped by the 20-day EMA ahead of 1.51, while AUD/USD holds above 1.0360 area.

In the equity market, Asian main indexes were higher. Shangha is up +1.39% as we near the close, Nikkei 225 trades at +1.30% after the lunch break, while the Hang Seng Index tracks gains in China by rising over 0.70%.

Main Headlines in Asia

- US stress tests: Warning signal to JP Morgan and Goldman Sachs

- New Zealand Business NZ PMI improves to 56.3 in Feb from 55.2

- FT: Merv King says sterling’s fall has gone far enough

- Hollande pushes for more growth-oriented policies

- Dovish comments on NZ dollar

- EUR/USD, watch for selling clues at 1.3100-1.3150 for retest of 1.2900 - 2ndSkies

- Juncker: Sees Cyprus problem resolved this weekend

- New BoJ leadership approved by Japan upper house

- Early BOJ meeting?

- USD/JPY hanging around 96 round post-BoJ nominees voting

- All market themes point to US Dollar strength - Societe Generale

- Still expecting USD/JPY at 80.00 year end - HSBC

- USD/JPY: Still looking to options market for leads

- EUR/USD: Large buying interest reported towards 1.2900

- GBP could decline further – HSBC

Forex Flash: USD/JPY unlikely to go lower on Japanese foreign investment - Nomura

Nomura FX strategists do not expect acceleration in foreign investment out of Japanese equities to lead to any significant JPY appreciation, adding that "higher Japanese equity prices encourage domestic investors to take more FX risks, which will likely offset the JPY-buying impact associated with foreign buying of Japanese equities."
আরও পড়ুন Previous

Forex Flash: AUD/CAD may reach 1.07, momentum to be short-lived - Westpac

AUD/CAD momentum could extend to near 1.07 although is likely to be short-lived, says Sean Callow, currency strategist at Westpac. The rise, as Sean explains, comes after "the Bank of Canada’s lack of urgency to tighten policy contrasted with a sharp reduction in market pricing for RBA easing to help produce one year highs above 1.06." However, Sean notes that "CAD short positioning extreme and RBA pricing more likely to move towards -25bp than zero should see AUD/CAD slip back to 1.0400 multi-week" the analyst adds.
আরও পড়ুন Next