FXStreet (Bali) - Exceedingly slow Asian session, with all the focus concentrated now on the FOMC.

All G10 FX vs the USD traded in 10-20 pips ranges, with familiar levels kept ahead of the Fed's policy meeting, with the market now expecting a more hawkish tone by Yellen following Tuesday's US May CPI, which came at 2.1% vs 2.0% y/y expected.

On the fundamental front, Japan's Merchandise Trade Balancefor May came at ¥-909.0B vs ¥-1,172.7B exp, with exports (YoY) coming at 2.7% vs -1.2% exp and imports (YoY) at -3.6% vs 1.7% exp. Meanwhile, the BoJ minutes showed no surprises, with members unanimously voting to keep increasing the monetary base at an annual pace of about 60-70 trillion yen. In New Zealand, the current account met expectations and was no mover for NZD.

Main headlines in Asia

Japan's updated growth strategy exceeds expectations - Nomura

New Zealand's current account meets expectations

Japan Merchandise Trade Balance Total registered at ¥-909B above expectations (¥-1172.7B) in May

Japan Adjusted Merchandise Trade Balance down to ¥-862.2B in May from previous ¥-844.62B

Jun 17, 23:50 GMTJapan Imports (YoY) came in at -3.6% below forecasts (1.7%) in May

Jun 17, 23:50 GMTJapan Exports (YoY) below forecasts (-1.2%) in May: Actual (-2.7%)

BoJ minutes: QQE effects firmly taking hold

PBoC planning new monetary tool to guide rates - Reuters

China House Price Index dipped from previous 6.7% to 5.6% in May

Related Articles
  1. Investing News

    China’s Forex Reserves Dropped Significantly

    China’s forex​ reserves dropped by a record $93.9 billion at the end of August to $3.56 trillion because the Central Bank has been selling dollars to provide a cushion to the falling yuan​
  2. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  3. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  4. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  5. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  6. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  7. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  8. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  9. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  10. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.

You May Also Like

Trading Center