AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

AceTraderFx Mar 3: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views
03 Mar 201602:30GMT

USD/JPY - ..... Despite yesterday's cross-inspired selloff from New York's 2-week high of 114.56 to as low as 113.22, dlr ratcheted higher to 113.89 partly on yen-selling as intra-day minor gain in the Nikkie boosted risk sentiment, suggesting range trading is in store until European open.

Offers are tipped at 113.85/95 and more above with stops above 114.00, however, more selling interest is reported at 114.45/55.
On the downside, initial bids are noted at 113.50-10 with some stops below 113.20.

Pay attention to release of U.S. initial weekly jobless claims, ISM services PMI and the important January durable goods order ahead of Friday's key jobs data.

Data to be released on Thursday:

Australia imports, exports, trade balance, China service PMI, France service PMI, unemployment rate, Italy service PMI, Germany service PMI, U.K. service PMI, Eurozone service PMI, retail sales, U.S. initial jobless claims, unit labour costs, nonfarm productivity, service PMI, non-manufacturing PMI, durable goods, non-defense capital and factory orders.

 

[AceTRaderForex]

AceTraderFx Mar 4: Intra-Day Market Moving News and Views (USD/JPY)

Intra-Day Market Moving News and Views (USD/JPY)
04 Mar 2016 02:10GMT

USD/JPY - ..... Dollar met renewed selling at 113.76 in Australia and briefly fell to intra-day low of 113.25 after BoJ Kuroda's interest rate remarks.

In the parliament speech, Bank of Japan Governor Haruhiko Kuroda remarks on not going to pushing interest rates further into negative territory now. The BOJ stunned markets by adopting a negative interest rate policy in January to reflate the economy out of stagnation and achieve its ambitious 2 percent inflation target.

Japanese Economy Minister Nobuteru Ishihara said an advisory panel on new spending would hold its first meeting in the middle of this month and would discuss the world economy, energy and the financial sector, and that the advisory panel was not for preparation of a delay in a planned sales-tax hike.

More updates news on their speeches to come later.

 

[AceTRaderForex]

AceTraderFx Mar 7: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views
07 Mar 201602:00GMT

USD/JPY - ...... Despite staging an intra-day rally in post-NFP New York low of 113.12 to as high as 114.26 in New York afternoon on active cross-selling in yen, dlr pared Friday's gain and fell to 113.50 after tripping stops below 113.70 as the Nikkei opened lower on Monday, damping market's risk appetite.

Looks like said Friday's 114.26 peak would hold from here as intra-day broad-based cross unwinding in yen suggests selling dlr on recovery is favoured.
Offers are noted at 113.85/95 n more at 114.00 with stops above 114.30.
Some bids are reported at 113.50-40 with stops touted below 113.10.

BoJ Gov Kuroda will be speaking at at a forum hosted by Japan's Yomiuri newspaper at 03:40GMT.

Data to be released:

Japan leading economic index, coincident index, Germany factory orders, Italy producer prices, Eurozone investor confidence and U.S. employment trend on Monday.

New Zealand manufacturing sales, Japan GDP, trade balance, current account, economy watcher poll, consumer confidence index, Australia business confidence, business conditions, China imports, exports, trade balance, Swiss unemployment rate, CPI, U.K. retail sales, Germany industrial production, France imports, exports, trade balance, current account, Eurozone GDP, Canada building permits, housing starts, U.S. Redbook and economic optimism on Tuesday.

Australia consumer sentiment, Japan machine tool orders, France nonfarm payroll, U.K. manufacturing output, GDP estimate, industrial output, U.S. mortgage application, wholesale inventories, wholesale sale, Canada rate decision, New Zealand rate decision on Wednesday.

Japan domestic corporate goods price index, Australia inflation expectation, China producer price index, consumer price index, Germany export, import, trade balance, current account, France industrial output, U.K. housing survey, Eurozone interest rate decision, U.S. initial jobless claims, Canada new housing price index and capacity utilization on Thursday.

New Zealand manufacturing PMI, Germany consumer price index, Harmonised index of consumer prices,
Italy industrial output, U.K. construction output, good trade balance, Canada unemployment rate, employment change, participation rate, U.S. import prices, export prices and Reuters/University of Michigan consumer sentiment index on Friday.

China retail sales and industrial production on Saturday.

 

[AceTRaderForex]

AceTraderFx Mar 7: Intra-Day Market Moving News and Views (EUR/USD)

Intra-Day Market Moving News and Views
07 Mar 2016 03:04GMT

EUR/USD - ...... Euro trades narrowly with a soft bias in subdued Asian morning after Fri's intra-day rally from post-NFP New York morning at 1.0904 to as high as 1.1044.
Price has edged lower in NZ and Australia on Monday due to lack of follow-through buying, suggesting sideways trading below said Friday's 1.1044 temp. top would continue.
Some bids are noted at 1.0970-60 with stops touted below 1.0950, however, more stops are reported below 1.0900.

On the upside, some offers are tipped at 1.1000/10 and more above with stops above 1.1045.
Pay attention to release of a slew of European data with Germany kicking off with Jan factory orders at 07:00GMT, then Italy's PPI and later EU Sentix Mar investor confidence index.

 

[AceTRaderForex]

AceTraderFx Mar 8: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views
08 Mar 201603:04GMT

USD/JPY - ...... Dlr tumbles in hectic Tokyo session as broad-based weakness in Asian stocks triggered active buying of yen on risk aversion.
The pair met renewed selling at Asian open at 113.52 n decline accelerated once stops at 113.10 were tripped, price later weakened to 112.75.

The lack of a short-covering bounce suggests market is eager to test dlr's downside, so selling the pair on recovery is the way to go.
Offers have been lowered 113.00/10 and more above with stops touted above 113.55.
Some bids are noted at 112.70-66 with more stops below there.

Data to be released on Tuesday included:

New Zealand manufacturing sales, Japan GDP, trade balance, current account, economy watcher poll, consumer confidence index, Australia business confidence, business conditions, China imports, exports, trade balance, Swiss unemployment rate, CPI, U.K. retail sales, Germany industrial production, France imports, exports, trade balance, current account, Eurozone GDP, Canada building permits, housing starts, U.S. Redbook and economic optimism

 

[AceTRaderForex]

AceTraderFx Mar 9: Intra-Day Market Moving News and Views (GBP/USD)

Intra-Day Market Moving News and Views
09 Mar 2016 02:28GMT

GBP/USD - ...... The Bank of England(BoE) is still more likely to raise interest rates than to cut them over the next two years, but it has plenty of scope to stimulate the economy if needed, said Martin Weale who is BoE policy maker, he challenged the view among some investors that central banks had run out of ammunition to boost their economies at a time when the world's recovery from the financial crisis has slowed.
He continued to say that If needed, the BoE could cut rates below their current record low of 0.5 percent or launch a new round of quantitative easing, possibly purchasing private-sector assets.
Banks in London have also backed staying in and last week the City of London, the municipal authority for the financial district, also formally supported staying.

On news about Brexit, sources have said that U.S. banks Morgan Stanley and Citi have said there could be a backlash against Britain as a financial centre if it left the EU. Goldman Sachs and JPMorgan have made donations to the campaign to keep Britain in.
London mayor Boris Johnson, who is campaigning to pull Britain out of the EU, has said leaving would be a "golden opportunity" and has dismissed "threats" from banks to relocate from London.
While Bank of England Governor Mark Carney said less favourable exit terms under a Brexit would see some banking operations move to Ireland or continental Europe.

TheCityUK said if Britain left, it could not be assumed that EU regulators would be able to live with big EU financial services businesses maintaining their current level of assets in London if markets there were subject to different rules.
heCityUK also represents related services like accounting and law firms, which, together with the banks, employ some 2.2 million people.
The finance industry accounts for nearly 12 percent of the British economy and pays 66 billion pounds ($93.75 billion) a year in tax, making it the biggest contributor to government coffers of any business sector.

TheCityUK, which has already stated that Britain is better off staying in the EU, listed the drawbacks of any potential alternatives to membership, such as still having to contribute money to the EU for access to the single market while having no say over its financial rules.

 

[AceTRaderForex]

ECB is expected to cut its deposit rate deeper into negative territory

Intra-Day Market Moving News and Views
10 Mar 2016 01:40GMT

EUR/USD - ..... Euro pares yesterday's rally from 1.0946 to 1.1035 in Asia SS market remains nervous ahead of today's ECB meeting. ECB is set to unveil its second stimulus cocktail in three months on Thursday, spurred by fears that low energy costs are feeding into wages and prices, potentially perpetuating ultra-low inflation.
The euro zone's central bank is widely expected to cut its deposit rate deeper into negative territory and adjust its 1.5 trillion euro asset-buying scheme, hoping to boost prices after inflation dipped back into negative territory last month.

The ECB has little to show for the 700 billion euros it has spent buying government bonds and other assets in the past year, as tumbling raw materials prices blunt the impact of its quantitative easing. That raises the risk that people will lose faith in the bank's commitment to its mandate, dragging down long-term price expectations.
Inflation has been below the ECB's nearly 2 percent target for three years and is likely to remain so for many more.
Draghi has already said that acting too soon is better than acting too late, and that the rate meeting needs to recognise that the outlook for growth and inflation have deteriorated. But with policy already deep in unconventional territory, the ECB has few big guns left and most remaining options risk either negative side effects or potential legal challenges, suggesting the Governing Council will opt for a package of modest measures.

Analysts polled expect the ECB to cut its deposit rate to -0.4 percent from -0.3 percent, charging banks more for keeping their cash with the bank overnight. They also see a 60 percent chance the ECB will raise its monthly asset purchases, probably by 10 billion euros to 70 billion euros a month.
It could also firm up its forward guidance, drop a self-imposed limit not to buy assets yielding less than its deposit rate and launch a new targeted longer-term refinancing operation, possibly at a negative rate, to help boost lending, growth and eventually inflation.

But more radical ideas, like an even deeper rate cut, a multi-tier deposit rate, or buying non-performing bank loans, are unlikely to gain traction within the diverse 25-member Governing Council that has shunned radical steps in several earlier tweaks of its asset-buying programme.

 

[AceTRaderForex]

AceTraderFx Mar 11: Intra-Day Market Moving News and Views (USD/JPY)

Intra-Day Market Moving News and Views (USD/JPY)
11 Mar 201602:00GMT

USD/JPY ..... A government survey showed that the Japanese business sentiment worsened sharply in the first quarter, suggesting that financial market turbulence and sluggish global demand were taken a toll on a fragile economic recovery.
The data keeps pressure on policymakers to deploy additional fiscal and monetary stimulus measures to reflate an economy that is skirting another recession.

The business survey index (BSI) of sentiment at large manufacturers stood at minus 7.9 in January-March, swinging from plus 3.8 in October-December, according to a joint survey by the Ministry of Finance and the Economic and Social Research Institute, an arm of the Cabinet Office.
The index measuring big manufacturers' sentiment three months ahead stood at minus 3.5, a sign the gloomy outlook may discourage companies from boosting wages or capital expenditure, given sluggish demand in China and other emerging Asian markets.
Companies expect capital expenditure to have risen 8.8 percent in the current fiscal year ending in March, but shrink 6.6 percent in the coming business year, the survey showed.

The world's third-largest economy shrank in the final quarter of 2015 as slow wage growth and sluggish global demand hurt consumption and exports.
While many analysts expect growth to have rebounded modestly in the current quarter, the bleak outlook for global demand has led some to predict another contraction that will push Japan back into technical recession - defined as two straight quarters of economic contraction.

The BSI measures the percentage of firms that expect the business environment to improve from the previous quarter minus the percentage that expect it to worsen.
Japanese Finance Minister Taro Aso said on Friday that he hoped the BOJ would continue its efforts to achieve its 2 percent price target, while suggesting that specific monetary policy steps were up to the central bank to decide.
The adoption of negative interest rates by the BOJ is already having an impact such as bringing down housing loan rates.
The BOJ is set to hold off cutting interest rates at next week's rate review, as it scrambles to soothe market jitters which was caused by January's surprise decision to adopt.

 

[AceTRaderForex]

AceTraderFx Mar 11: Intra-Day Market Moving News and Views (USD/JPY)

Intra-Day Market Moving News and Views
11 Mar 2016 08:01GMT

USD/JPY - ..... Reuters reported machinery orders to be released on Monday, Japan's leading indicator of capital spending, are expected to have risen modestly in January for a second straight month, but deepening concerns over economic prospects have cast doubt on a sustained recovery.

Exports were expected to fall for a fifth straight month in February as emerging economies such as China remained weak, while imports likely dropped for a 14 consecutive month on slack domestic demand and low oil prices holding down energy costs.
The poll of 19 economists found that core machinery orders, a volatile data series regarded as a useful leading indicator of capital spending in the coming six to nine months, were expected to rise 3.0 percent in January from December.

The Bank of Japan is set to hold off cutting interest rates at next week's rate review, sources told Reuters, as it works to soothe market jitters caused by January's surprise decision to adopt negative interest rates.

Japan chief govt spokesman Yoshihide Suga comment thaT given ECB's easing, THIS will continue to monitor its effect on world economy, market and he hopes ECB's easing will impact Japan and world economy favourably.

 

[AceTRaderForex]

AceTraderFx Mar 14: Intra-Day Market Moving News and Views (NZD/USD) (USD/JPY)

Intra-Day Market Moving News and Views (NZD/USD) (USD/JPY)
14 Mar 201601:22GMT

NZD/USD - 0.6738.. Kiwi briefly fell to 0.6717/18 earlier today after statements by New Zealand cenbank. New Zealand's central bank reported on Monday that the inflation expectations are a key issue for monetary policy.
RBNZ Assistant Governor John McDermott noted Monday that the inflation expectations have fallen significantly recently across a range of measures, and this is a concern for the Bank, and this will contribute to the need for low interest rate settings.

Late last week the central bank surprised markets with a 25 basis point rate cut to 2.25 percent and signaled more to come.
McDermott said there has been a "material decline" in inflation expectations and they risk becoming embedded in future wage and price decisions. He said that if the recent material decline in a broad range of inflation expectations measures continues, the Bank would need to reconsider the outlook for interest rates.

Elsewhere in Japan Reuters reported this morning that Japan's core machinery orders rose a more-than-expected 15.0 percent in January from the previous month, Cabinet Office data showed on Monday, in a sign that rising business investment could support economic growth.
This rise in core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, was much stronger than economists' median estimate for a 3.0 percent increase.
And compared with a year earlier, core orders, which exclude those of ships and electricity, rose 8.4 percent in January, versus a 3.6 percent decline seen by analysts.

 

[AceTRaderForex]

AceTraderFx Mar 14: Intra-Day Market Moving News and Views (USD/EUR)

Intra-Day Market Moving News and Views (USD/EUR)
14 Mar 2016 04:03GMT

EUR/USD - ..... Euro opened lower on news of defeats in election results by the ruling CDU party on Sunday. Reuters reported Chancellor Angela Merkel's conservatives lost in two out of three state elections on Sunday as Germans punished her accommodative refugee policy with a big vote for the anti-immigration Alternative for Germany (AfD), exit polls showed.

The pair fell to 1.1135 before renewed buying emerged n later lifted price to 1.1176 ahead of Asian open, however, euro moved sideways in Asian trading as traders await reaction from European players when they come in, therefore, sideways swings are expected to continue.
Offers are tipped at 1.1180/90 with stops above 1.1200, more stops are reported above last week's high at 1.1218.
Initial bids are noted at 1.1235-25 with some stops below 1.1220, more stops are touted below Friday's 1.1080 low.

The only economic data due out today is EZ industrial production, January's M/M is expected to come in at -0.1% vs previous reading of -1.3%.

 

[AceTRaderForex]

AceTraderFx Mar 15: Intra-Day Market Moving News and Views (AUD/USD)

Intra-Day Market Moving News and Views (AUD/USD)
15 Mar 2016 01:30GMT

AUD/USD - ...... The latest report from Australia's central bank RBA: The minutes suggested that there were "reasonable prospects" for continued economic growth and it was still too early to assess whether a bout of global market volatility early in the year foreshadowed something more sinister.
With low inflation, that would give it room to ease policy but only if it was "appropriate to lend support to demand", the Reserve Bank of Australia said in minutes of its March 1 policy review, where it kept the cash rate steady at a record low 2.0 percent for a 10th month running.

It continued that there had been further indications of a rebalancing of activity towards the non-mining sectors of the economy, more recent data had suggested that the economy had continued to grow at a moderate pace in early 2016.
Their Members judged that there were reasonable prospects for continued growth in the economy and that it was appropriate to leave the cash rate unchanged at an accommodative setting.

The RBA cited low interest rates, above-average employment growth and a depreciation of the exchange rate over the past couple of years as factors underpinning the economy. It made no mention of a recent rebound in the local dollar.
Over the period ahead, new informational should allow the Board to assess whether the improvement in labour market conditions was continuing and whether the recent financial turbulence presaged weaker global and domestic demand."

Members spent part of the meeting discussing China, Australia's single biggest export market.
They have observed that demographic changes and strong productivity growth had been key drivers of economic growth in China for some time, but these forces were now reversing and were likely to weigh on further growth as a result.
However, the process of urbanisation still had some way to run in China and that would tend to support growth in the working age population.
The RBA also noted that Chinese household incomes are likely to rise over time, creating long-run potential for Australia to increase exports of rural produce and services, including tourism, to China.

 

[AceTRaderForex]

AceTraderFx Mar 15: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views
15 Mar 201603:09GMT

USD/JPY - ..... Market is on the edge awaiting BoJ's announcement on its rate n monetary policy decision. At its Jan's 29 meeting, the central bank surprise the market with its aggressive easing measures, causing dlr to jump from 118.52 to 121.70.

The pair briefly spiked to 114.02 from 113.71 but has pared intra-day gain. So expect choppy price swings until official announcement comes through the newswire.
Offers are tipped at 114.00/10 and more above with stops touted above 114.45, more stops are reported above 115.00. Initial bids are reported at 113.55-50 with stops building below 113.30.

Data be released on Tuesday:

Japan BoJ rate decision, industrial output, capacity utilization, France CPI, Italy CPI, Eurozone employment, U.S. NY Empire State manufacturing index, producer price index, retail sales, retail control, Redbook, business inventories, Net TIC flows, overall net capital flows and foreign T-bonds buying

 

[AceTRaderForex]

AceTraderFx Mar 16: Intra-Day Market Moving News and Views (USD/JPY)

Intra-Day Market Moving News and Views (USD/JPY)
16 Mar 2016 02:06GMT

USD/JPY - ...... Dlr pared yesterday's sharp losses and jumped in Asian morning on BoJ Kuroda's dovish remarks. Speaking in parliament, Bank of Japan Governor Haruhiko Kuroda said that it was theoretically possible for the central bank to cut interest rates to around minus 0.5 percent. But he could not say at this moment which policy tools the BOJ would use in case it decided to expand monetary stimulus again, saying that it would depend on economic conditions at the time.

The BOJ added a negative interest rate policy to its massive asset-buying programme in January and began charging a 0.1 percent interest on a portion of excess reserves financial institutions park with the central bank.

Japan's PM Shinzo Abe is meeting with foreign economists to help him prepare for hosting a Group of Seven summit that will be hosted by Japan in May, and U.S. Nobel laureate and economist Joseph Stiglitz said that he had Shinzo Abe to delay a sales tax increase scheduled for next year and focus more on fiscal spending to boost a recovery from recession.
Stiglitz told Abe that G7 need to coordinate policy as weak aggregate demand was harming the global economy and contributing to income disparity.

The G7 talks, according to some economists, could give Abe a convenient reason to postpone tax hikes, relax fiscal austerity and and introduce more stimulus to avoid relying too much on monetary policy.
"A consumption tax increase now would be going in the wrong direction," said Stiglitz, a professor at Columbia University. "This is a time to have stimulating fiscal policy."

 

[AceTRaderForex]

AceTraderFx Mar 16: Intra-Day Market Moving News and Views (USD/EUR) & data to be released today

Intra-Day Market Moving News and Views (USD/EUR)
16 Mar 2016 04:05GMT

EUR/USD - ..... Euro trades narrowly in subdued Asian morning as market's focus is on dlr/yen and yen crosses. Price is in holding pattern after yesterday's intra-day gyrations ended with a modest rebound from European 1.1072 low to 1.1125 following release of weak U.S. retail sales data, however, euro's gain proved to be short-lived and price quickly retreated to 1.1087 but renewed buying emerged and lifted the pair.

Although range trading is expected ahead of European open, buying euro on dips is still favoured ahead of FOMC announcement later at 18:00GMT as there has been market chatter of good buying interest at 1.1080-60 area.

Bids are noted at 1.1090-80 with light stops below 1.1060, offers are tipped at 1.1125/35 with stops touted above there.

Data to be released on Wednesday:

New Zealand current account, Australia Westpac leading index, Japan industrial production, tertiary industry index, capacity utilization, Germany wholesale price index, Italy trade balance, U.K. unemployment, average earning, claimant count change, U.S. mortgage application, building permits, housing starts, CPI, manufacturing output, industrial output, capacity utilization, Fed interest rate decision and Canada manufacturing sales.

 

[AceTRaderForex]

The greenback remains under pressure in Asia after yesterday's unchanged Fed rate decision

AceTraderFx Mar 17:Intra-Day Market Moving News and Views
17 Mar 2016 02:03GMT

USD/MAJORS - The greenback remains under pressure in Asia after yesterday's unchanged Fed rate decision. The Fedheld interest rates steady on Wednesday and indicated that moderate U.S. economic growth and "strong job gains" would allow it to tighten policy this year, with fresh projections showing policymakers expected two quarter-point hikes by the year's end, half the number seen in December.
The U.S. central bank, however, noted that the United States continues to face risks from an uncertain global economy.

In a press conference, Fed Chair Janet Yellen said it remained to be seen whether a recent firming in U.S. core inflation, which excludes volatile energy and food components, would be sustained.
Fed policymakers projected weaker economic growth and lower inflation this year and lowered their estimate of where the targeted lending rate would be in the long run to 3.30 percent from 3.50 percent - a signal that the economic recovery would remain tepid.

The interest rate outlook is a shift from the four hikes expected when the Fed raised rates in December for the first time in nearly a decade. The majority of policymakers now said they expected it would be appropriate to raise rates by about a half a percentage point by the end of this year.
The new rate outlook came as the Fed attempts to steer through recent global market volatility and keep its rate hike plans somewhat intact.

The Fed had adopted a cautious approach at its last policy meeting in January, amid a selloff on financial markets, weaker oil prices and falling inflation expectations. As in its January policy statement, the Fed did not say directly how it regards the balance of risks to the U.S. economy.

Fed policymakers also see continued improvement in the job market, with the unemployment rate expected to decline to 4.7 percent by the end of the year and fall further in 2017 and 2018.
Fed policymakers marked down their forecast for inflation this year to 1.2 percent from 1.6 percent, but see it recovering to close to the central bank's 2 percent medium-term target next year.
Kansas City Fed President Esther George was the only policymaker to dissent on Wednesday.

 

[AceTRaderForex]

AceTraderFx Mar 17: Intra-Day Market Moving News and Views (USD/CHF)

Intra-Day Market Moving News and Views (USD/CHF)
17 Mar 2016 08:06GMT

USD/CHF - ...... The Swiss government on Thursday trimmed its growth forecasts for this year and next year due to a weaker global economic outlook.
Swiss economic growth for 2016 is now seen at 1.4 percent in 2016 compared to a forecast in December of 1.5 percent, the State Secretariat for Economic Affairs (SECO) said. It sees 2017 growth at 1.8 percent compared to 1.9 percent previously.

SECO said in a statement the the negative exchange rate effects are expected to gradually diminish in the course of 2016 and 2017, and in contrast, the international economic context has lost momentum in recent quarters and there is no clear sign of a marked acceleration of global growth.
SECO cut its inflation forecast for this year to -0.6 percent from -0.1 percent. It still expects consumer prices to start rising again in 2017, forecasting inflation of 0.2 percent, unchanged from December.

The forecasts come ahead of the Swiss National Bank giving its quarterly policy assessment at 0830 GMT.

 

[AceTRaderForex]

AceTraderFx Mar 18: Intra-Day Market Moving News and Views (USD/JPY)

Intra-Day Market Moving News and Views (USD/JPY)
18 Mar 2016 01:10GMT

USD/JPY - ...... Bank of Japan- BOJ made two proposals, one to expand the bank's massive asset-buying programme and another to add negative interest rates to asset purchases, at the January rate review, minutes of the meeting showed on Friday.
The BOJ eventually decided to adopt the negative interest rate policy after several members argued the move would help forestall the risk of external factors delaying the eradication of Japan's "deflationary mindset," the minutes showed.

The BOJ unexpectedly deployed the negative interest rate policy in January to stimulate the economy, although four of the nine board members dissented the decision, which drew criticism from lawmakers for failing to boost stock prices or arrest an unwelcome rise in the yen.
The central bank kept policy settings unchanged at a subsequent meeting in March but offered a bleaker view on the economy, signalling its readiness to roll out further stimulus if needed to hit its ambitious 2 percent inflation target.

Japan chief govt spokesman, Chief Cabinet Secretary Yoshihide Suga told a news conference that it is not true that the government had started in considering a sales tax hike delay, and that that there was no change in plans for Japan to increase the sales tax next year, unless any major financial crisis or natural disaster happened.
The Yomiuri newspaper reported on Friday that Prime Minister Shinzo Abe was considering delaying for a second time a planned increase in the nation's sales tax if the economy continued to stagnate.

 

[AceTRaderForex]

AceTraderFx Mar 18: Intra-Day Market Moving News and Views (USD/EUR) & data to be released today

Intra-Day Market Moving News and Views (USD/EUR)
18 Mar 2016 08:40GMT

EUR/USD - ....... Although the single currency briefly edged up to 1.1337 in Asian morning, price dropped sharply to 1.1275 at European open as ECB's Praet hinted that ECB cud cut its rates further and continues to remain under pressure.

Germany's producer price index fell more-than-expected last month.
In a report, Destatis said that German Producer Price Inflation fell to a seasonally adjusted annual rate of -0.5%, from -0.7% in the preceding month.

Offers are now seen at 1.1290/00 and more above at 1.1310/20 with stops building up above there whilst initial bids are noted at 1.1220/30, suggesting selling on pullback is favored.

 

[AceTRaderForex]

AceTraderFx Mar 21: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views
21 Mar 2016 3:03GMT

USD/JPY - ..... Dlr trades with a soft bias in subdued Asian morning as final markets in Japan are closed for Vernal Equinox Day holiday.
Despite intra-day gain in the Nikkei futures following Friday's modest rise in the Dow, renewed wave of yen-buying on risk aversion has pressured the pair, however, Friday's erratic rise from 110.82 to 111.75 (New York) suggests choppy price swings above last week's 16-month bottom at 110.67 (Thursday) would continue.

Offers are tipped at 111.55/65 and more above with stops reported above 112.00, some bids are noted at 111.15-25 and more below with fairly large stops building below 110.60.

Data to be released:

EU current account, U.K. CBI industrial trends survey, U.S. Chicago Fed national activity index, existing home sales and consumer confidence on Monday.

Australia house price index, Japan Nikkei manufacturing PMI, all industry activity index, Swiss exports, imports, trade balance, Germany business climate, current assessment, expectations, ZEW economic sentiment, current situation, U.K. CPI, retail price index, producer price index, DCLG house price index, public sector net borrowing, Eurozone ZEW current situation, U.S. Redbook, housing price index and Richmond Fed manufacturing index on Tuesday.

Italy wage inflation, Swiss ZEW investor sentiment, U.S. mortgage applications and new home sales on Wednesday.

New Zealand exports, imports, trade balance, Germany GfK consumer sentiment, Markit manufacturing flash PMI, Markit service flash PMI, France business climate, Markit manufacturing flash PMI, Markit service flash PMI, Italy industrial orders, industrial sales, retail sales, Eurozone Markit manufacturing flash PMI, Markit service flash PMI, U.K. retail sales, CBI distributive trades survey, U.S. building permits, durable goods, initial jobless claims and Markit manufacturing flash PMI on Thursday.

Japan CPI, leading economic index, coincident index, France GDP, consumer confidence, U.S. GDP and personal consumption expenditures prices on Friday.