Forex news and economic headlines 28 April 2016
News:
- BOJ's Kuroda says Japan economy continues to recover moderately
- More from Kuroda: Doesn't see any limit to BOJ monetary policy
- Kuroda says BOJ did not discuss negative rates for loan programmes
- Kuroda: BOJ will not take incremental steps in easing policy
- Japan's Suga says government expects BOJ to make efforts to achieve price target
- BOJ core CPI March yy +1.1% vs +1.0% exp
- Germany's BGA slams ECB policy then says German exports will break record levels
- Nowotny: Most important effect of ECB policy has been to prevent deflation - Livesquawk
- We take the concerns of savers seriously says Nowotny
- Important progress has been made in Greek review talks
- SNB reports a Q1 profit of CHF 5.7bln
- What do we do with USDJPY now?
- Stand down all you Osborne stalkers.
- ForexLive community doing good deeds for a great cause
- Option expiries 10am NY cut today 28 April
- Nikkei 225 closes down -3.61% at 16,666.05
Data:
- Germany unemployment change April -16k vs 0k exp
- April 2016 Eurozone economic sentiment 103.9 vs 103.4 exp
- Spain CPI April mm flash +0.7% vs +1.1% exp
- Saxony CPI April mm -0.2% vs +0.8% prev
- Brandenburg CPI April mm -0.3% vs +0.9% prev
- Baden-Wuerttemberg CPI April mm -0.2% vs +0.9% prev
- April 2016 North Rhine CPI 0.2% vs 0.4% prior y/y
- UK Nationwide house price index March mm +0.2% vs +0.4% exp
- Japan housing starts March yy +8.4% vs -0.6% exp
A busy session following on from the Asian fallout in the wake of the Fed and BOJ announcements.
Yes folks it's been all about the yen which has posted the biggest one-day gains since Aug 2015 and second-biggest in 5 years. USDJPY really only wiped its feet around 108.70 after capping in late Asia around 109.30 and once Kuroda opened his mouth at the presser and offered little hope to yen-shorts we had one way traffic quickly to 108.30 then ultimately 107.92.
Subsequent rally was gratefully sold into and we're back around 108.00 as I type. Yen pairs have enjoyed/suffered similar paths and that has played out on core pairs as usual.
EURUSD has been weighed down by EURJPY supply yet enjoying the USD-neg sentiment and been up to 1.1368 before retreating while GBPUSD similalrly was on the back-foot before looking at 1.4620 again, only to fail, again, and beat a retreat to 1.4555.
NZDUSD has enjoyed some post RBNZ love but ran into sellers at 0.7000 to beat its own path lower as NZDJPY selling weighed heavy. AUDUSD has tried to hold its own but AUDJPY has kept it capped while USDCAD has remained underpinned by firm oil price and CADJPY supply. CHF pairs also yen driven.
While the fallout continues we have month-end flows to navigate with tomorrow the final day to get the books balanced.
