No surprise from BoJ Asian shares performed well overnight to hit a six week high mostly boosted by prospective of stimulus from the BCE this Thursday. BoJ decision to maintain its current stimulus program unchanged lifted the JPY. As a result, USD/JPY lost some ground and is now trading at 117.50, 130 pips away from yesterday’s high at 118.85. Aussie and Kiwi are strong as these commodity currencies seem to benefit from the strong rally in Gold which is currently trading at a five month high. At the time of writing the precious metal is fighting to break above 1300$ key level. Today we see a series of key risk events on the economic calendar however we do not expect much volatility as the market awaits mostly on ECB decision regarding its next stimulus program to be announced. Euro is kept under pressure however the expectations are high.
Posted on: Wed, 21 Jan 2015 08:25:32 +0000
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