JPY slips lower in Asian trading; traders eye UK GDP estimate
City Index November 27, 2013 2:28 PM
<p>A quiet Asian session in FX. The main move is still some USD weakness, except against JPY, which has had a drop against most of […]</p>
A quiet Asian session in FX. The main move is still some USD weakness, except against JPY, which has had a drop against most of its peers. This follows on the back of BoJ’ s Shirai who remains cautious about the economy. It will add more stimulus if needed to reach the 2% inflation mark. Germany has reached a coalition, with Merkel’s party making a deal with the SPD. This helped the euro keep some strength overnight, with the main talk still on whether the ECB will use negative interest rates.
Today important figures to watch out for include the second GDP estimate from the UK, expected to be at 0.8%. In the US core durable goods orders, unemployment claims and Chicago PMI, all a build up to the US Thanksgiving Holiday tomorrow.
Supports 1.3520 1.3490 1.3415 | Resistance 1.3600 1.3635 1.3675
Supports 101.15 101.00 100.60 | Resistance 101.80 102.00 102.30
Supports 1.6185 1.6140 1.6075 | Resistance 1.6240 1.6260 1.6310