Early BOJ governor change inspires Nikkei and weakens JPY
City Index February 6, 2013 1:30 PM
<p>The JPY softened across the board taking out the 94.00 level with 2010 highs of 95.00 and 128 in EUR/JPY now the next hurdles as […]</p>
The JPY softened across the board taking out the 94.00 level with 2010 highs of 95.00 and 128 in EUR/JPY now the next hurdles as the Nikkei outperforms on speculation, BOJ governor Shirakawa will step down early, increasing the chances of an earlier stimulus package from the BOJ.
The AUD suffered in G10 currency space overnight after poor retail sales were released coming in at -0.2% versus and expected rise 0.3% with the market now focusing on the Australian labour report to be released tonight with all signs that the RBA will cut rates next month after holding their easing bias earlier in the week. EUR/AUD is trading above last year’s high of 1.3031 technically point to a move to 1.4100 as the AUD/USD looks at the November lows of 1.0150.
A relatively data void session in prospect with only German factory orders this morning and US mortgage applications this afternoon.
Supports 1.3450-1.3380-1.3250 | Resistance 1.3615-1.3655-1.3720
Supports 93.45-93.20-92.60 | Resistance 94.05-94.20-95.00
Supports 1.5630-1.5605-1.5550 | Resistance 1.5675-1.5710-1.5785
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