Bobbys Corner-Open Market-Dec.18.2009
December 18, 2009 by Bob Slade · Leave a Comment
Good Morning:
The JPY lost ground against overnight after the BOJ (Bank of Japan) made comments and indicated that they will leave interest rates near zero.
The Euro had some positive action overnight-as German Business Confidence (IFO) rose last month.
European equity markets are higher this morning. US Futures are also pointing to a higher opening this morning.
Asian equity markets closed lower.
Commodities are also higher at this time.
Oil:$73.96 Gold:$1108.10
No major data today.
HAVE A GREAT DAY-WEEKEND & GOOD LUCK
Bank of Japan’s Shirakawa on the Wires
June 16, 2009 by Danish FX · Leave a Comment
BoJ Gov Shirakawa: Exiting temporary steps depend on market & economic conditions; central banks agree maintaining steps too long will distort markets
- Japanese economy in line with BoJ April outlook report
- CP, corporate bond issuance has improved significantly
- Must be careful of economy, price downside risks for a while
- Uncertainty remains high over country’s economic outlook
- Watching July Tankan survey to asses economy
- Long term rates based on market economic outlook
- BoJ remains cautious on recovery
Sees both pros and cons in higher commodity prices
- banks need to be mindful of falling share prices
Bank of Japan Holds Rates As Expected
June 16, 2009 by Danish FX · Leave a Comment
BOJ LEAVES RATES UNCHANGED AT 0.10% (AS EXPECTED), decision was unanimous; Raises economic assessment for 2nd consecutive month
- Economy expected to recover in second half of the year to Mar 2010, has stopped worsening, showing clearer evidence of leveling out
- Sees exports, output turning higher
- Financial conditions remain tight but sees signs of improvement
- Downside risks for economy remain, with outlook subject to developments on final demand
Bank of Japan’s Shirakawa Comments
June 10, 2009 by Danish FX · Leave a Comment
BOJ’s Shirakawa: Japan industrial production and GDP to improve in Q2; Will consider revising economic assessment next week
- Weak job market and CAPEX will also impact domestic demand.
- Fiscal policy increasingly meaningful when interest rates are near zero
Bank of Japan’s Shirakawa Comments
June 9, 2009 by Danish FX · Leave a Comment
BoJ’s Shirakawa: worst of economic downturn appears to be over, although unprecedented financial crisis still remains
- Hard to prevent bubbles with only monetary policy,
Bank of Japan’s Kamezaki on the Wires
June 3, 2009 by Danish FX · Leave a Comment
BoJ’s Kamezaki: Now is not the time to exit unconventional actions
- Will exit temporary policies only when market fully stabilizes; markets still unstable
- Fiscal health will be the key factor in determining proper L/T rate decisions
- Increase in JGB supplies are seen as only one reason behind recent rise in yields
- Sees recovery in near term, long term outlook continues to remain uncertain
Bank of Japan’s Kamezaki Comments
June 3, 2009 by Danish FX · Leave a Comment
BOJ’s Kamezaki: Must examine upside risks of accomodative policy; Expects production to start recovering before long, but still watching downside risks to economy and prices
- Prices likely to continue moderate decline; Must watch FX, commodity market impact on prices
- Expects overseas economies to bottom out this year, US economic recovery likely to be slow
- Uncertainty over Japan’s outlook is high
- Massive debt issuance may increase interest rates in Japan and other countries
Bank of Japan’s Shirakawa on the Wires
May 25, 2009 by Danish FX · Leave a Comment
BoJ Shirakawa: Expects Japanese economy to grow q/q in Q2
- Long term yield on US Treasuries reflect expectations of economic recovery
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