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
GAIN Capital UK Limited (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.