Forex Flash: USD/JPY entering 90-95 consolidation phase - Nomura

Nomura has updated its forecast revision for USD/JPY after new information about the direction of economic policy in Japan, including the “new BoJ”, was provided, the bank says.

From Nomura: "We are now recalibrating the forecast path to take this fully into account: Our new end-June target is 95 (old target: 90) and end-Dec target is 93 (old target: 90). We see only moderate upside from here in the near term. Overall, we judge that USD/JPY is now entering a consolidation phase between 90 and 95."

Mar 7, 2013

Australian trade deficit breaks the AUD1 billion mark

The Australian trade balance for the month of January came twice as bad as expected, with a reading of -1057m vs. -500m analysts had been calling for. While imports were up 1% vs the -6% from December, exports were down 1% vs + 3% in the last month.

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Mar 7, 2013

Forex: AUD/USD little changed on bad Aus trade deficit

With Australian trade deficit 2 times wider than expected above the -1B, AUD/USD slides to fresh session lows at 1.0218, resuming the retraced started yesterday at fresh weekly highs around the 1.0300 round, still slightly in the positive for the week. Australian ASX index breaks even for the day so far, still around multi-month highs above the 5100 points mark. Little moves in equity, gold and oil markets for the day.

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