The Japanese yen continues to upload gains on Thursday, as USD/JPY trades below the 102 line in the North American session. The yen has actually enjoyed an exceptional week, getting over 200 points versus the United States dollar. On the release front, United States Unemployment Claims dropped well, uploading its cheapest degrees in practically 7 years. In Japan, Preliminary Device Device Orders jumped in March. Later on in the day, the Bank of Japan launches the minutes from its financial policy meeting.
Unemployment Claims rebounded greatly, as the essential sign dropped to 300 thousand recently. This beat the estimate or 314 thousand and marked the most affordable reading considering that May 2007. With the Federal Reserve aiming to trim its QE program and speculation rising about a possible rate of interest boost, every work release is under the market microscope.
Wednesday's release of the Federal Reserve minutes was eagerly prepared for, but the minutes did not shed light on the question of when the Fed may raise interest rates. Policymakers revealed concern about speculation over this problem, but didn't say when the central bank could change its current monetary policy. The minutes were more dovish than expected, and the US dollar responded with losses.
The BOJ ended its policy conference on Tuesday, and as anticipated, the main bank specified it was keeping its monetary base at an annual degree of 60-70 trillion yen each year. The government raised the sales tax last week, which will help minimize the country's huge financial obligation but is most likely to decrease the economy. Nevertheless, BOJ Guv Haruhiko Kuroda stated that there is no need to add stimulus at present, and the yen reacted by continuing its rally. There is a strong possibility that the Bank could introduce additional easing in July, when the government is expected to present measures to stimulate the economy.
USD/JPY April 10 at 14:30 GMT
USD/JPY 101.66 H: 102.14 L: 101.42
USD/JPY Technicals
USD/JPY Fundamentals
6:00 Japanese Preliminary Machine Tool Orders. Actual 41.8%.
12:30 US Unemployment Claims. Estimate 314K. Actual 314K.
12:30 US Import Prices. Estimate 0.2%. Actual 0.6%.
14:30 US Natural Gas Storage. Estimate 15B.
17:01 US 30-year Bond Auction.
18:00 US Federal Budget Balance. Estimate -76.5B.
23:50 Japanese Monetary Policy Meeting Minutes.
23:50 Japanese Corporate Goods Price Index. Estimate 1.8%.
23:50 Japanese M2 Money Stock. Estimate 3.9%.
Unemployment Claims rebounded greatly, as the essential sign dropped to 300 thousand recently. This beat the estimate or 314 thousand and marked the most affordable reading considering that May 2007. With the Federal Reserve aiming to trim its QE program and speculation rising about a possible rate of interest boost, every work release is under the market microscope.
Wednesday's release of the Federal Reserve minutes was eagerly prepared for, but the minutes did not shed light on the question of when the Fed may raise interest rates. Policymakers revealed concern about speculation over this problem, but didn't say when the central bank could change its current monetary policy. The minutes were more dovish than expected, and the US dollar responded with losses.
The BOJ ended its policy conference on Tuesday, and as anticipated, the main bank specified it was keeping its monetary base at an annual degree of 60-70 trillion yen each year. The government raised the sales tax last week, which will help minimize the country's huge financial obligation but is most likely to decrease the economy. Nevertheless, BOJ Guv Haruhiko Kuroda stated that there is no need to add stimulus at present, and the yen reacted by continuing its rally. There is a strong possibility that the Bank could introduce additional easing in July, when the government is expected to present measures to stimulate the economy.
USD/JPY April 10 at 14:30 GMT
USD/JPY 101.66 H: 102.14 L: 101.42
USD/JPY Technicals
USD/JPY Fundamentals
6:00 Japanese Preliminary Machine Tool Orders. Actual 41.8%.
12:30 US Unemployment Claims. Estimate 314K. Actual 314K.
12:30 US Import Prices. Estimate 0.2%. Actual 0.6%.
14:30 US Natural Gas Storage. Estimate 15B.
17:01 US 30-year Bond Auction.
18:00 US Federal Budget Balance. Estimate -76.5B.
23:50 Japanese Monetary Policy Meeting Minutes.
23:50 Japanese Corporate Goods Price Index. Estimate 1.8%.
23:50 Japanese M2 Money Stock. Estimate 3.9%.
