Good week traders!
Today is an usual Monday with light economic datas. Overnight during weekend, we had Prelim GDP q/q from Japan which was better than expected and previous. However, BOJ Kuroda still came out and cautious the market with possible further fiscal easing.
The thing abut the GDP is that most are from export but domestic consumption and private investment were all still low. Domestic consumption is 60% of the GDP.
Because BOJ has now targeted the 10 years bond rate to zero, this will almost certain to give Japanese government enough bullets to start the fiscal easing.
The current risk on sentiment and strong USD after Post Election definitely helped Japan.
We also had Chinese industrial production y/y which was slightly negative but overall nothing to major.
Then London session the PPI m/m from CHF was lower than previous and expected, this could extend the already negative interest rate of CHF further.
Finally we finished the day with ECB Draghi speech and later on we will have AUD monetary policy meeting minutes.
Good week traders!
Today is an usual Monday with light economic datas. Overnight during weekend, we had Prelim GDP q/q from Japan which was better than expected and previous. However, BOJ Kuroda still came out and cautious the market with possible further fiscal easing.
The thing abut the GDP is that most are from export but domestic consumption and private investment were all still low. Domestic consumption is 60% of the GDP.
Because BOJ has now targeted the 10 years bond rate to zero, this will almost certain to give Japanese government enough bullets to start the fiscal easing.
The current risk on sentiment and strong USD after Post Election definitely helped Japan.
We also had Chinese industrial production y/y which was slightly negative but overall nothing to major.
Then London session the PPI m/m from CHF was lower than previous and expected, this could extend the already negative interest rate of CHF further.
Finally we finished the day with ECB Draghi speech and later on we will have AUD monetary policy meeting minutes.