{"id":12529,"date":"2010-08-31T07:43:19","date_gmt":"2010-08-31T11:43:19","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=12529"},"modified":"2010-08-31T07:43:19","modified_gmt":"2010-08-31T11:43:19","slug":"boj-easing-program-fails-to-halt-the-yens-appreciation","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/08\/31\/boj-easing-program-fails-to-halt-the-yens-appreciation\/","title":{"rendered":"BOJ Easing Program Fails to Halt the Yen\u2019s Appreciation"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong> &#8211; The Bank of Japan pledged 10 trillion worth of new loans in the local  currency to Japanese financial institutions. However, traders scoffed  at this initiative and continued to bid up the yen. Perhaps only direct  intervention by the BOJ will provide some respite for Japanese exporters  who are feeling the sting of a strong local currency.<\/p>\n<p><strong>Today\u2019s Major Data Releases:<\/strong><\/p>\n<p><strong>EUR<\/strong> \u2013 German Unemployment Change \u2013 07:55 GMT<br \/>\nExpected: -19K. Previous: -20K.<br \/>\nGermany is Europe\u2019s largest economy and therefore has the most influence on the direction of the euro.<\/p>\n<p><strong>CAD<\/strong> \u2013 GDP m\/m \u2013 12:30 GMT<br \/>\nExpected: 0.2%. Previous: 0.1%.<br \/>\nAmerica\u2019s largest trading partner is reports Q2 GDP today. Expectations  aren\u2019t high with only 0.2% growth forecasted due to the slump in oil  prices.<\/p>\n<p><strong>USD<\/strong> \u2013 CB Consumer Confidence \u2013 14:00 GMT<br \/>\nExpected: 50.7. Previous: 50.4.<br \/>\nConsumer spending is the engine of the US economy. Strong numbers should be favorable for the greenback<\/p>\n<p><strong>EUR\/USD<\/strong> \u2013 The pair has broken out of a <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/08\/27\/eurusd-%e2%80%93-bearish-flag-pattern\/\">bearish flag pattern<\/a>. The 1.2610 support should be tested today. A breach below this level could send the pair to the 1.2465 support level.<\/p>\n<p><strong>Yen<\/strong> \u2013 Until the BOJ starts selling yen on the open market, there is no reason to be short on the Japanese currency.<\/p>\n<p><strong>Spot Crude Oil <\/strong>\u2013 3 days of consecutive gains were snapped yesterday,  but this shouldn\u2019t stop the rising price. The next resistance level for  spot crude oil rests at $75.50.<\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                       may not be  suitable     for     all            investors.       There    is  a                     possibility           that             you   could        sustain a    loss       of  all     of       your                  investment and                  therefore  you             should   not        invest          money    that     you              cannot     afford to             lose.  You             should    be       aware   of        all       the       risks             associated     with        Foreign           Exchange           trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Russell Glaser &#8211; The Bank of Japan pledged 10 trillion worth of new loans in the local currency to Japanese financial institutions. However, traders scoffed at this initiative and continued to bid up the yen. Perhaps only direct intervention by the BOJ will provide some respite for Japanese exporters who are feeling the sting &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/08\/31\/boj-easing-program-fails-to-halt-the-yens-appreciation\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;BOJ Easing Program Fails to Halt the Yen\u2019s Appreciation&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-12529","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=12529"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12529\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=12529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=12529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=12529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}