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Forex Trading

Japan Fin. Min Azumi speaks in Parliament

  • Japan is always ready to take bold action on currency.
  • Won’t comment on currency levels.
  • Can’t saw what is the “correct” JPY level for the economy.
  • Won’t place restrictions on intervention.
  • Well aware that some companies are hurt by strong JPY levels.

 

usd/cnh rallying after breaking out of sideways channel.

usd/cnh rallying after breaking out of this tight sideways channel making new highs for the day.

usd/sgd looking to test the top of this channel.

usd/sgd looking to test the top of this channel for a third time.

oil/usd trading in a sideways channel.

oil/usd trading in a sideways channel.

ECB’s Coeure on the wires…

  • Core inflation more benign than headline figure.
  • Good reason to think 2nd round oil effects will be limited.
  • Inflation forecast duet o commodities, indirect taxes.
  • The need for bond purchases has decreased.
  • Bond program to remain in place for ‘some time”.
  • doesn’t want LRTO to lead to fragmentation of the bond market.
  • Too soon to talk about an exit from emergency ops.

 

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