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Forexlive Asia-pacific FX news wrap 14 Jun: BoJ leaves rates & bond purchases unchanged

Apart from the volatility in the JPY, the Asia-Pacific session has seen mostly muted flows across major asset classes.

Equities: Mostly mixed with North American equity futures mixed with the Russel and Dow lower while the ES and NQ is marginally higher). EMEA equity futures have seen a bit of a bounce but nothing too exciting right now. While Asia-Pac equity futures trades mixed as will (Chinese futures mostly lower while the Nikkei higher following the BoJ).

Commodities: Mixed as well with energy lower, base metals higher and precious metals mixed.

Bonds: Mostly higher this morning but moves have been marginal and yields remain close to yesterday’s lows for the most part.

FX: The JPY is the weakest after the BoJ didn’t follow through with reducing bond purchases, while the USD is the strongest on the session so far (continuation of yesterday’s strength for the most part).

BoJ’s decision today is a good lesson on source reportsUSDJPY approaching 157.90 after BoJ decisionJPY falls after BoJ decides not to reduce bond purchasesBoJ maintains overnight rates at 0.1%ANZ expects RBNZ to cut sooner than previously signaledKey levels to watch for JPY pairs ahead of the BoJImplied rate expectations for the BoJ ahead of today’s decisionS. Korea & US hold emergency call over possible Putin visit to North KoreaPBoC injects 2 billion Yuan via 7-day reverse repos43 of 43 economists surveyed agree that RBA will leave rates on hold in JunePBOC sets USD/ CNY reference rate for today at 7.1151 (vs. estimate at 7.2620)Japan’s Suzuki saying will monitor impact of China’s excess productionING expect first Fed rate cut in Sep after this week’s dataWhat are markets expecting from the BoJ today?PBOC is expected to set the USD/CNY reference rate at 7.2620What time is the BoJ today?EUR pairs remain close to weekly lows after recent political shenanigansCentral bank speakers on the wires todayToday’s economic calendar highlightsNZ food price index -0.2 vs 0.6 priorNZ Manufacturing PMI 47.2 vs 48.9 priorUS State department concerned about Iran’s expansion of nuclear programEUR the weakest while CHF the strongest as we head into the Asia-Pac sessionSouth Korea export price growth YY 7.5% versus 6.2% priorWhy the lack of reaction to PPI?

This article was written by Arno V Venter at www.forexlive.com.

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