Forex Analysis for Friday 28th July 2017
JPY Tokyo Core CPI beat expectations at 0.2% vs 0.1%.
BoJ Summary of Opinions from July 19th-20th stated year on year change in CPI is likely to increase gradually towards 2% with the inflation target likely to be reached by around fiscal 2019. Furthermore, there was an opinion that the range of the target level of 10yr JGB yields should not be interpreted too strictly, while there was an opinion that it is appropriate to set the new target of JGB purchases at a yearly pace of roughly JPY 45tln and then reduce the pace of purchases in an orderly and incremental manner. (Newswires)
The market goes risk-off. Global equities are mixed but mostly down. Oil rises. The JPY strengthens. The EUR hits resistance and moves through it today. This morning, the GBP produces its fifth bullish candle.
Later today we have CAD GDP.
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