BOJ announced it would set a 2% inflation target
Trading Floor News January 22, 2013 2:50 PM
<p>- Japanese stocks retreated over night as the Bank of Japan announced it would set a 2% inflation target and has put off Fed Reserve […]</p>
The video cannot be shown at the moment. Please try again later.
- Japanese stocks retreated over night as the Bank of Japan announced it would set a 2% inflation target and has put off Fed Reserve styles open ended asset purchases until Jan 2014. This saw the Nikkei 225 stock average decline by 0.4 percent after jumping as much as 1 percent due to speculative buying on headlines without looking to the content of the Banks announcement.
- Back in Europe after the first hour of trading the German Dax is seen trading 10 down at 7740 with Continental AG a automotive industry supplier among the top losers down 1.57%.
- The FTSE 100 is little changed just 1 point up this morning trading at 6182 with Tate and Lyle leading the way of the gainers and Fresnillo topping the losers.
- All in all a fairly quiet start to the morning trading continued from yesterday’s US Martin Luther King bank holiday.
- Be sure to keep an eye out on todays economic data, we have the German Economic Sentiment released at 10am along with existing home sales figures from the US forecasted at 5.09m better than 5.04m of last month.
- Above all President of the ECB Mario Draghi will be making a speech this evening at 6pm which generally increases volatility as traders attempt to decipher interest rate clues.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.