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Yen and Aussie have their own Battle

Finance Minister Azumi says Japan is closely watching the EUR’s decline versus the Yen. Currently, the market is seeing more Yen intervention dangers if the declines accelerate much further. Today’s move is putting pressure on the BoJ/MoF to try and curb their currency strength. The market should not expect the recent US criticism of Japanese intervention policy to influence any of Japan’s decisions. A stone throw away and we have the AUD starting to look like “more” than just a commodity currency. Its strong performance against the EUR indicates that Aussie can be seen as a key alternative as more investors shy away from EUR looking for yield and growth alternatives.

Below are some other highlights of the week:


Asia

 

AMERICAS Week in FX [1]

EUROPE Week in FX [2]

 

WEEK AHEAD

  • Retail Sales comes to us from the USD, CHF and AUD
  • Trade data is delivered from CNY, CAD and USD
  • Central Banks monetary stance is announced by the ECB and BoE
  • Building data us reviewed in AUD, NZD and CAD
  • Jobs data is released in USD and AUD
  • Inflation situation is announced in CNY
  • The week ends with USD preliminary UoM sentiment index

 

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Dean Popplewell

Dean Popplewell [7]

Vice-President of Market Analysis at MarketPulse [8]
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell
Dean Popplewell

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