- BOJ minutes: Falling oil prices will support consumption
- BOJ minutes: Annual CPI could reach 2% by end of 2015
- RBA Governor Stevens: AUD exchange rate is still adjusting
- New Zealand credit card spending up by 5.8% y/y in Feb
The Greenback is still in recovery mode for todays Asian trading session, with forex traders tuning in to what other central bankers had to say. The BOJ just released the minutes of its latest monetary policy meeting, which reminded traders that the Japanese central bank isnt looking to add stimulus anytime soon. BOJ Governor Kuroda did express confidence that the 2% annual CPI target will be reached within 2015 after all!
USD/JPY barely reacted to the report, with the pair trading flat at 120.75 after briefly testing the 121.00 major psychological level earlier on. The Japanese yen gave up a bit of ground to its other forex counterparts, as EUR/JPY is up 21 pips (+0.16%) and GBP/JPY is holding on to a 16-pip gain (+0.09%).
Meanwhile, RBA Governor Stevens didnt cause quite a ruckus in his speech today but he did say that the Australian dollar exchange rate is still adjusting to better reflect the countrys fundamentals. AUD/USD is up 25 pips (+0.33%) so far and AUD/JPY is up 30 pips (+0.32%).
In New Zealand, credit card spending showed a 5.8% annualized gain for February, lower compared to the previous 6.2% increase, which suggests that consumer spending probably ticked lower during the period. NZD/USD is still enjoying a nice 25-pip lead (+0.33%) though.
Up ahead, the forex calendar suggests that were in for a data-light London session, with only the U.K. public sector net borrowing report and euro zone current account balance due. Stay on your toes for any surprises that might impact overall risk sentiment!
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