Economic Events: (GMT)
Close of the Asian Markets
JPY Interest Rate Decision 0.10% 0.10%
JPY BoJ Press Conference
Bank of Japan (BOJ) policy board members come to a consensus on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation. The Bank of Japan (BOJ) press conference looks at the factors that affected the most recent interest rate decision, the overall economic outlook, inflation and offers insights into future monetary policy decisions.
A higher than expected rate is positive/bullish for the JPY, while a lower than expected rate is negative/bearish for the JPY.
23:50 JPY Trade Balance 0.36T 0.54T
The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.
A higher than expected reading should be taken as positive/bullish for the JPY, while a lower than expected reading should be taken as negative/bearish for the JPY.
Analysis and Recommendation:
The Japanese yen lifted from 77.29 yen per US dollar to JPY76.91, and closed US trade near JPY76.94. on Friday.
The pair continue to trade in a close range, with the USD showing some strenght continuing from US trading on Friday.
There are several financial and economic reports due out in the US which should give the greenback a push upwards but for today and tomorrow expect the duo to trade between last weeks 76.91 and today's high of 77.08.
Upcoming Govt Bond Sales Dates
Jan 23 12:00 Norway Details bond auction on Jan 30
Jan 24 09:30 Netherlands Eur 1.5-2.5bn Jan 2013 & Jan 2042 DSL
09:30 Spain Auctions 3 & 6M T-bills
16:30 Italy Details CTZ/BTPei on Jan 26 & BOT on Jan 27 &
18:00 US Auctions 2Y Notes
Jan 25 10:10 Sweden Nominal bond auction
10:30 Germany Eur 3.0bn 3.25% Jul 2042 Bund
16:30 Italy Details BTP/CCTeu on Jan 30
18:00 US Auctions 5Y Notes
Jan 26 10:10 Italy Auctions CTZ/BTPei
18:00 US Auctions 7Y Notes
Jan 27 10:10 Italy BOT auction
USD/JPY Pivot Points (Time Frame: 1 Day)
Name S1 S2 S3 Pivot R1 R2 R3