{"id":12759,"date":"2010-09-07T08:55:12","date_gmt":"2010-09-07T12:55:12","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=12759"},"modified":"2010-09-07T08:55:12","modified_gmt":"2010-09-07T12:55:12","slug":"will-the-bank-of-japan-intervene-in-the-currency-market","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/09\/07\/will-the-bank-of-japan-intervene-in-the-currency-market\/","title":{"rendered":"Will the Bank of Japan Intervene in the Currency Market?"},"content":{"rendered":"<p><strong>By Greg Holden<\/strong> &#8211; The  US dollar\u2019s resurgence in today\u2019s early morning hours has led to a  number of significant support levels on USD crosses being tested. The  EUR\/USD pair has dipped towards the 1.2790 support line, while the  GBP\/USD hit 1.5350 and seems to be holding steady at that mark. With  today\u2019s news focusing primarily on Australia and Japan, we should see  thin trading conditions continue while USD crosses shift in response to  this morning\u2019s movements.<\/p>\n<p><em>Today\u2019s leading events<\/em>:<\/p>\n<p><strong>04:30 GMT: AUD \u2013 Cash Rate<\/strong><\/p>\n<p>Taking place during the early morning hours before most of Europe  awakens means that this announcement will likely see a latent result on  the value of the AUD throughout the day\u2019s trading and investors  shouldn\u2019t rule out the fluctuations in the Aussie follow this figure\u2019s  release.<\/p>\n<p>The Cash Rate is the Reserve Bank of Australia\u2019s (RBA) official  short-term interest rate and therefore is one of the most important  figures released regarding the direct value of a currency. The  importance of interest rates in currency valuation makes today\u2019s  announcement vital to the future movement of the AUD over the next few  weeks.<\/p>\n<p><strong>Tentative: BOJ \u2013 Press Conference<\/strong><\/p>\n<p>The Bank of Japan\u2019s (BOJ) post-interest rate press conference is one  of the most significant events for the Japanese yen. With all of the  speculation surrounding possible bank intervention against the  continuously rising JPY, this announcement will likely shed further  light on the situation of the yen and give traders a better idea on how  likely, or how close, Japan\u2019s central bank is on attacking what they  view as the over-strengthened JPY.<\/p>\n<p>Hawkish statements could lead to a strong depreciation of the yen as  this will likely signal future steps at weakening the currency to help  boost Japanese exports.<\/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 Greg Holden &#8211; The US dollar\u2019s resurgence in today\u2019s early morning hours has led to a number of significant support levels on USD crosses being tested. The EUR\/USD pair has dipped towards the 1.2790 support line, while the GBP\/USD hit 1.5350 and seems to be holding steady at that mark. With today\u2019s news focusing &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/09\/07\/will-the-bank-of-japan-intervene-in-the-currency-market\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Will the Bank of Japan Intervene in the Currency Market?&#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-12759","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12759","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=12759"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12759\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=12759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=12759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=12759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}