Daily Update
Yesterday morning, Bank of Japan (BOJ) decided to keep the interest rate unchanged. It was followed by the press conference by BOJ Governor Kuroda. In brief Kuroda mentioned that Japanese Yen had weakened excessively at this stage and BOJ had revised its outlook on exports and output and mentioned that the economy is likely to turn to moderate expansion. During the US market session, the EUR/USD pair trades at fresh 14 year lows yesterday, having extended its decline down to 1.0352 mainly due to the USD getting a helping hand from Federal Reserve Chair Janet Yellen comments on the US labor market , overall US Dollar Index reported a fresh 14-year high. And there was some risk aversion after Turkey, Germany, and Switzerland were hit by terrorist strikes yesterday. The day will start will Consumer Confidence from Europe. The Consumer Confidence released by the European Commission is a leading index that measures the level of consumer confidence in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. Later in the day, US will release their Existing Home Sales figures. The Existing Home Sales, released by the National Association of Realtors provide an estimated value of housing market conditions. As the housing market is considered as a sensitive factor to the US economy, it generates some volatility for the USD.Yesterday's Market
Yesterday Explained
Today's Market
Today’s Focus
By Mid-day, UK will release their Public Sector Net Borrowing data. The Net Borrowing released by the National Statistics captures an amount of new debt held by the U.K. governments (the financial deficit in the UK national accounts).
