Forex Asian Session Recap January 29th
Friday, January 29, 2010 GMT
Deflation pressures remains a concern for Japan based on decline in consumer prices and the yen’s 8 percent climb in the past nine months which are forcing policy makers to remain open to further stimulus. Despite Japans massive debt load of 973 Trillion yen (a ratio of 200% to GDP compared to the US 90%) traders are still driving Yen crosses lower on risk aversion fears.
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Forex Asian Session Recap January 27th
Wednesday, January 27, 2010 GMT
Reports of central bank buying interest lined up at 1.4040 down to 1.4000. Stops below 1.4030 with option protection at 1.4000 and more stops below. Good bids again at 1.3970 and stops below 1.3950 on the EUR/USD. The higher CPI data from Australia helped propel the AUD/USD to a high of .9045, majority of retail traders are already long on this pair.
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Japanese Yen gains broadly on Investor Risk Aversion
Wednesday, January 27, 2010 GMT
The trend of risk aversion continues in Asian trading today, with investors opting instead for the safe-haven Japanese Yen, which saw broad gains. As reported at 1:24 p.m. (JST) in Tokyo, the Japanese Yen rose .5% versus the U.S. Dollar, to trade at 89.15 Yen, the highest level in nearly 6 weeks.
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News of Chinese Monetary Policy Tightening Boosts Yen
Tuesday, January 26, 2010 GMT
The Japanese Yen surged broadly in Asian trading today following the news that Chinese authorities ordered the implementation of recently established capital reserve requirements for some Chinese banks, an indication that China is making some effort to control its booming economy and stave off inflation. Not all Chinese banks were required to raise their reserve; the specifically chosen banks all bore the same characteristic excessive lending policies.
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The Forex Market: The Week Ahead January 24th
Sunday, January 24, 2010 GMT
Next week trader's attention will be focused on Ben Bernanke's confirmation, US GDP, and the FOMC. If Ben is unable to get confirmed for another term as Chairman of the Federal Reserve Board, I expect the news to be dollar bearish. Primarily because of the uncertainty that would ensue from such a result. Coupled with Obama's new bank regulation proposals, and a floundering economic recovery, the US dollar will give back some of the gains. The US GDP is expected to have grown by 4.5% last quarter, this may seem a bit optimistic but retail sales did increase in the last three months, and the trade deficit declined.
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Japanese Yen reaches Multi-currency Peaks on Risk Aversion
Friday, January 22, 2010 GMT
The Japanese Yen rose to a new 9-month peak against the Euro, which continues to struggle on investor concerns over the fiscal health of many of the Euro-zone nations. As reported at 12:04 p.m. (JST) in Tokyo, the Euro traded at 127.26 Yen, a decline of .1%, though at one point it had traded at 126.55 Yen, the lowest price since April 2009. The Japanese Yen also moved up versus the U.S. Dollar, trading at a 5-week high of 89.85 Yen.
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