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02.09.2016 07:07

Asian session review: tight ranges in low activity

The yen was little changed in spite of statements of the Bank of Japan board member Makoto Sakurai. During his speech today Sakurai announced a number of different options for the purchase of new bonds and increasing the asset purchase program. However, the banker noted the absence of an acute need to run all of these mechanisms at the next meeting in September. "The Bank of Japan may make some technical changes to its monetary policy, however, is unlikely to change its attitude on the target inflation rate of 2% and nothing decisive at the September meeting" - said Sakurai. The official added that it is important for the regulator to analyze the effects of negative interest rates and the strengthening of the national currency.

The euro traded almost unchanged after yesterday's announcement of the ECB's Novotny. The official noted that the main reason for such low interest rates in the region is a negative situation in the European economy. "In the long term, low rates of economic growth will continue, and it is difficult to name the reason for this" - he said.

Today, investors' attention will focuse on key employment report in the US, which will be published today at 12: 00GMT. According to forecasts, the number of people employed in non-agricultural sectors grew in August at 180 thousand after increasing by 255 thousand. In July. The unemployment rate is likely to decline to 4.8% from 4.9%. The growth rate of the average hourly rate is estimated to have slowed to 0.2% from 0.3%.

EUR / USD: during the Asian session, the pair is trading in $ 1.1190-1.1205 range


GBP / USD: during the Asian session, the pair rose to $ 1.3290


USD / JPY: during the Asian session, the pair was trading in Y103.10-103.40 range

02.09.2016 07:18

WSE: After opening

Market Focus

  • Donald J. Trump was inaugurated as the 45th president of the United States
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  • U.S.: Nonfarm Payrolls, January 227 (forecast 175)
  • Eurozone: Consumer Confidence, January -4.9
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