FX & CFD trading involves significant risk
00:30 Australia Building Permits, m/m January -4.4% +2.8% -2.4%
00:30 Australia Building Permits, y/y January +9.3% +8.1% +9.9%
00:30 Australia ANZ Job Advertisements (MoM) February -0.9% +3.0%
00:30 Australia Company Operating Profits Quarter IV -2.9% -0.9% -1.0%
Japan’s currency rose versus the euro as Asian stocks extended a global rout before data this week forecast to show Europe’s economy contracted.
The yen gained even after the nominee to become the next Bank of Japan governor pledged more monetary easing to defeat deflation. Haruhiko Kuroda, Abe’s pick to run the central bank, said in parliament today that the BOJ will do whatever is needed to end 15 years of deflation, including an early start to open- ended asset purchases. The BOJ announced those steps in January, deferring them till next year.
The euro traded 0.4 percent from the lowest in almost three months against the greenback as Italy edged closer to a new election. In Rome, a top aide to Democratic Party leader Pier Luigi Bersani said the country may need to hold another election this year after last week’s vote ended in a four-way split. The electorate revolted against German-inspired austerity measures, handing the party of comedian-turned-politician Beppe Grillo more than 25 percent of the vote with its anti-spending cut message and a call for a referendum on euro membership.
Australia’s dollar sank to a five-month low after building approvals declined. The number of permits granted to build or renovate houses and apartments declined 2.4 percent from December, when they fell a revised 1.7 percent, the Bureau of Statistics said in Sydney today. The median economist forecast was for a 2.8 percent gain.
EUR/USD: during the Asian session, the pair traded in the range of $1.3000-30.
GBP/USD: during the Asian session, the pair traded in the range of $1.5020-40.
USD/JPY: during the Asian session, the pair traded in the range of Y93.25-70.
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