19 Jan 2015
BoJ the focus for USD/JPY this week - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted the forthcoming BoJ this week for USD/JPY.
Key Quotes:
"Fundamental data included final industrial production, down –0.5%m/m, stronger than expected consumer confidence and soft nation wide department store sales, falling –1.7%y/y."
"The focus this week will the BoJ meeting, where updated forecasts will be released. It is widely expected that the 2% inflation target will be pushed out into the future, opening the door to a dovish BoJ. However, USDJPY is still being heavily influenced by risk aversion and potential volatility spikes."
Key Quotes:
"Fundamental data included final industrial production, down –0.5%m/m, stronger than expected consumer confidence and soft nation wide department store sales, falling –1.7%y/y."
"The focus this week will the BoJ meeting, where updated forecasts will be released. It is widely expected that the 2% inflation target will be pushed out into the future, opening the door to a dovish BoJ. However, USDJPY is still being heavily influenced by risk aversion and potential volatility spikes."