USD / JPY: Market lacks dynamics. trading recommendations
Technical analysis and trading recommendations – HERE!
NFP data
in the US in October were much better than expected, it increases the likelihood of
raising interest rates in the US in December. However, after the growth of US dollar
During the year, other currencies and against the background of the monetary policy in other countries
the world’s largest economies to mitigate the monetary
policy within their own countries, as well as lingering concerns about the global
economic growth, the Fed can not go on raising interest rates. Although
Fed officials and her head Janet Yellen repeatedly hinted earlier
a possible increase in interest rates in December, much will depend on
the incoming data on the US economy and its labor market. such a clause
can not but cause concern of market participants. Despite a strong indicator of NFP
in October in the US, the rate of inflation in the country remains far below
target level of 2.0% inflation.
Attention
Market participants will now be directed to the US economic data and
indicators on employment and inflation in November and early December (before the Fed meeting
15-16 December).
at
receipt of the negative economic news from the United States prior to the meeting
The Fed in December does not exclude profit-taking and the partial closure of long
positions on the US dollar, which could give the dollar a short-term declining
dynamics.
Phrase
Fed chief Janet Yellen that the rate hike in December, “really
possible, “she said a week ago, does not mean that it
It will happen.
according to
According to the Consumer Price Index published today in China in October
It increased by 1.3% after rising by 1.6% compared with the same period last year
September. On the eve of Sunday came as negative data on
As China’s foreign trade balance. Together with the reduction in exports
October (-6.9%) greatly reduced imports (-18.8%).
incoming
economic data from China indicate the continuation of the slowdown
China’s economy, and weakening domestic demand and inflation.
That
Still, the Japanese stock index Nikkei Stock Average rose trading results
0.2%, and the pair USD / JPY increased slightly at the end of Asian trading
session. While the pair maintains positive momentum resulting from the strong NFPR in
US and comments Bank of Japan at the end of last month, indicating the
the bank’s intention to stick to a soft monetary policy. The head of the Bank of Japan Kuroda
He said the central bank “will not hesitate to further easing
policy, if it is needed, “and” restrictions on available
available monetary instruments “does not.
Wherein
The Bank of Japan for the third time in a row has lowered the forecast of inflation for next year
– up to 1.4% of the previous value of 1.9%. It is also expected that this fiscal
GDP will increase by 1.2% rather than 1.7% according to the preceding prediction. AT
Next year GDP growth forecast of 1.4% instead of 1.5%.
That
However, for the further growth of the pair USD / JPY lacks the dynamics and it seems no
Landmarks further movement, which will continue until Friday,
when in 13:30 (GMT) published data on the level of retail sales in the US
October.
See also review and trading recommendations for the pair USD / CAD!
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