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12 Jun 2013
Flash: BOJ, EZ and EEMEA’s – BofA and Merrill Lynch
FXstreet.com (London) - Tomos Rhys Edwards at Global Research for BofA Merrill Lynch gives us an overview around whats hot today in the FX space.
USD/JPY at mercy of BOJ
He said that this time, the Bank of Japan disappointed investors by leaving a lending program unchanged; the yen strengthened by almost 3% while US equities retreated 1%. He went onto to say that the treasuries continue to display high volatility, with the 10y bond yield falling from an intraday high of 2.30% to 2.18%.
EUR/USD looks to data and fundamentals
He was adding, interest rates and currencies in emerging markets had big swings as well. He explains that the focus today will have been on Euro area industrial production; inflation in Germany, France and Spain; and rates decisions in New Zealand and Korea, both of which are expected to remain on hold. Focus in EEMEA will be on April retail sales in S Africa and Hungary central bank minutes.
USD/JPY at mercy of BOJ
He said that this time, the Bank of Japan disappointed investors by leaving a lending program unchanged; the yen strengthened by almost 3% while US equities retreated 1%. He went onto to say that the treasuries continue to display high volatility, with the 10y bond yield falling from an intraday high of 2.30% to 2.18%.
EUR/USD looks to data and fundamentals
He was adding, interest rates and currencies in emerging markets had big swings as well. He explains that the focus today will have been on Euro area industrial production; inflation in Germany, France and Spain; and rates decisions in New Zealand and Korea, both of which are expected to remain on hold. Focus in EEMEA will be on April retail sales in S Africa and Hungary central bank minutes.