Markets in Consolidation, Japan GDP Beat Expectation The forex markets are steadily in range as the week starts since most Asian markets are on Chinese new year holiday. Japanese Preliminary Q4 GDP released today saw stronger than expected growth in Q4, by 1.1% qoq, 4.6% annualized versus expectation of 0.9% qoq, 3.5% annualized. However the broad measure of prices, GDP deflator, fell at a record 3% yoy, showing that deflationary pressures persist in the economy and there is increasing need for a policy response from BoJ, which will meet later this week. Japanese stocks are down today as the positive GDP growth data was somewhat outweighed by last week's surprise hike in bank reserve requirement from China. Full Report Here... |
EUR/JPY Daily Outlook Daily Pivots: (S1) 121.64; (P) 122.36; (R1) 123.36; More. At this point, intraday bias in EUR/JPY remains cautiously on the downside for 120.69 support first. Break will confirm that recent fall from 134.46 has resumed and should target 100% projection of 134.36 to 124.73 from 126.96 at 117.33 next. On the upside, however, above 123.10 minor resistance will delay the bearish case and argues that more sideway consolidations would be seen first. Nevertheless, even in case of another rise, upside should be limited by 124.73/126.96 resistance zone and bring another fall. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
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(%) | | GBPUSD | 1.5638 | 1.5699 | -61 | -0.39% | | USDCHF | 1.0791 | 1.0754 | +37 | +0.34% | | GBPAUD | 1.7633 | 1.7683 | -50 | -0.28% | | EURUSD | 1.3594 | 1.3631 | -37 | -0.27% | | NZDUSD | 0.6965 | 0.6981 | -16 | -0.23% | Last Updated: Feb 15, 07:00 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Feb 15, 07:00 GMT |
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