Today we had comments from BOJ stating further easing in negative rate is possible, and we saw JPY being sold at the early European session.
The equity markets were in red in European session as well and the global risk sentiment is off.
So we had reversal signal in pretty much all YEN pairs, signalled once again the struggles for BOJ to devaluate its currency when times are tough and money flows into safe heaven.
There is no other major news from Japan this week but the only countries that are doing worse than Japan economically and had lower interest rate are Europe and CHF, both are also safe heaven currencies which will hedge out our risk.
We also had UK datas today with mix results, better than expected average earnings but worse than expected claimant count change, and unemployment rate was in line. However, both average earnings and claimant count change were all worse than previous, and we saw GBP dropped against other currencies initially but then picked up the strength again.
Although GBP is still in a negative economic future, but the fundamental datas as mentioned, were not that bad and the current sentiment also supports it. Tomorrow we have rate decision and summary which might give us more clear direction.
We also had a Crude Oil inventories report today with lower built up (good for oil) but still higher than previously (bad for oil), and market reacted with another dip down in WTI as now at around $43 per barrel.
This of course dragged down CAD against all other currencies.
We have AUD employment data and NZD GDP data coming up later in the Asia session, basically the market is still in a general risk off tone.
Today we had comments from BOJ stating further easing in negative rate is possible, and we saw JPY being sold at the early European session.
The equity markets were in red in European session as well and the global risk sentiment is off.
So we had reversal signal in pretty much all YEN pairs, signalled once again the struggles for BOJ to devaluate its currency when times are tough and money flows into safe heaven.
There is no other major news from Japan this week but the only countries that are doing worse than Japan economically and had lower interest rate are Europe and CHF, both are also safe heaven currencies which will hedge out our risk.
We also had UK datas today with mix results, better than expected average earnings but worse than expected claimant count change, and unemployment rate was in line. However, both average earnings and claimant count change were all worse than previous, and we saw GBP dropped against other currencies initially but then picked up the strength again.
Although GBP is still in a negative economic future, but the fundamental datas as mentioned, were not that bad and the current sentiment also supports it. Tomorrow we have rate decision and summary which might give us more clear direction.
We also had a Crude Oil inventories report today with lower built up (good for oil) but still higher than previously (bad for oil), and market reacted with another dip down in WTI as now at around $43 per barrel.
This of course dragged down CAD against all other currencies.
We have AUD employment data and NZD GDP data coming up later in the Asia session, basically the market is still in a general risk off tone.