Breaking News

Yen surges after BoJ kept its policy unchanged.

News Date: 18/12/2015 00:47:44

Bank of Japan has left its main target for monetary stimulus unchanged at an annual 80 trillion yen ($650 billion), but expanded the range of assets it can buy. The news propelled the yen to wipe its heavy losses and gain considerable ground; the Japanese currency hit a two-week low against the dollar earlier at 123.53, before aggressively pulling back and rising 0.30% to 122.00. Yen jumped to a two-week high against the euro at 132.47, after dipping earlier in the day to 133.76. It surged to a 9-week high against sterling at 182.08, after falling earlier to 183.90.


Japan's main stocks index Nikkei was hammered subsequently, with investors disappointed from the lack of more stimuli, and as a stronger yen makes life harder for exporters. The index dived 1.77% to 19,082, after hitting a two-week high earlier in the day at 19,843; and poised for a third consecutive weekly loss of 0.65%. Australia's S&P\ASX 200 index was up 0.10% for the day, set for its first weekly profit in a month at 1.54%. China's CSI300 index for biggest listed companies in Shanghai and Shenzhen rose 0.57%, while Korea's KOSPI ticked up 0.11%.


Wall Street closed down, affected by a renewed fall by oil prices. Dow Jones tumbled 253 points, or 1.43% to 17,495. NASDAQ lost 68 points, or 1.35% to 5,002. S&P 500 slid 31 points, or 1.50% to 2,041.


Oil prices were mixed, with U.S. crude futures down 14 cents, or 0.39% to $34.82 a barrel. Brent futures on the other hand gained 28 cents, or 0.76% to $37.17 per barrel. Both were set for a third weekly loss however; 2.26% for the former and 2.00% for the latter.


Sterling plunged to an eight-month low against the dollar yesterday at 1.4868, before recovering modestly today to 1.4919. The dollar's index, which measures the currency's performance against a basket of major rivals, fell 0.30% to 98.92, after hitting a two-week high yesterday at 99.35.


Due to be released today, Canada's CPI for November is forecast to have risen 0.1% m\m, while Core CPI is expected to remain unchanged m\m. A higher inflation is usually positive for the currency.


Latest news

Stocks in the United States closed lower at the end of yesterday’s trading, after the Chinese protests against the policies of Covid 19 raised economic concerns, to accompany the shares indices
11-2022 29 01:22:11

The dollar rose at the beginning of the week’s trading , due to the rush of investors towards it – as a safe haven – and after the Japanese yen fell due to the uncertainty that over
11-2022 28 02:00:56

Recent news/events in the cryptocurrency industry have put pressure on cryptocurrencies, as uncertainty remains alongside the general negative trajectory in the markets, affecting investors’ de
11-2022 25 02:29:41

The dollar fell today because of investors’ appetite for risky assets. The dollar index, which measures the performance of the US currency against a basket of six major currencies, fell by 0.
11-2022 24 05:23:41

US stocks closed higher on Tuesday, amid limited trading. To accompany its indicators upward, gains were recorded in the oil and natural gas, basic materials and technology sectors. At the end o
11-2022 23 01:35:33

More News