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Usd/jpy Bounce to 109.16 from Yesterday Low 107.75
USD1.1 bln option expiries 110.00 today, USD 1.847 bln tomorrow
Crude oil bounce post-Doha
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Asian Markets Rally on the Back of Higher Oil Prices, Gold Hovers Around $1230
Asian markets start the day sharply higher after oil futures rebounded overnight. In addition a positive close on Wall Street overnight also helped shares in Asia on Tuesday morning. The USD/JPY was trading 0.28% higher at 109.11 on Tuesday morning in Tokyo, the strongest since Friday, having closed in New York on Monday at 108.80. On the other side, gold finds support around $1230 marks. Japan's Nikkei 225 index spiked 3.26% higher to 16,806.34 points shortly after the open in Tokyo, while the broader Topix index started the day 2.99% higher at 1,359.76 points. In Korea markets also began on a higher note, with the Kospi index climbing 0.47% to 2,010.80 points. Today South Korea's central bank left the policy rate at a record-low 1.5% on Tuesday. Hong Kong's Hang Seng index rose 0.60% to 21,286.47 on Tuesday, while the Shanghai Composite gained 0.58% to trade at 3,051.19 points. Australia's S&P/ASX 200 stock index rallied 0.97% to 5,186.60 points early on in Sydney, the highest level since January. New Zealand's S&P/NZX 50 equity index was trading 0.07% higher at 6,855.76 points after midday in Wellington.
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Fxwirepro: Japanese Yen Gains in Early Asia on Kuroda?s Comments
USD/JPY is currently trading around 109.11 marks. It made intraday high at 109.31 and low at 109.04 levels. Japan's trade surplus expanded from ?242.8 billion in February to ?775.0 billion last month, the highest since February 2011 but lower than the market forecast of a ?834.6 billion surplus. In addition BOJ Kuroda said that, ?He will scrutinise risks to economy, prices and won't hesitate taking more easing steps if needed to hit price target.? He added, ?BOJ added negative rate policy to QQE to achieve inflation target at earliest date possible.? Intraday bias remains bearish till the time pair holds key resistance at 109.48 marks. A daily close below key support 108.68 will take the parity down towards 108.18, 107.43 and 105.72 levels. On the other side, a sustained break above 109.48 will take the parity towards 111.30/112.60 levels. On the top side, initial resistance levels are seen at 109.68, 111.30, and 112.60 marks respectively.
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Japanese exports slide for six consecutive months as yen surges
Japan's exports declined for sixth straight months last month, attributing it to disappointing demand for electronic parts, sluggish Chinese economic growth, and firmer yen. The Ministry of Finance said exports skidded 6.8% in March from 4.0% slide in February. Year-over-year, exports to the United States slid 5.1%, to Asia 9.7%, and China 7.1%. But exports to the European Union rose 12.1%, its highest since February 2011. The US dollar has erased about 10% versus the yen on speculations the Federal Reserve would slowly raise interest rates, prodding cautions from BOJ policymakers against investors on gliding the currency too swiftly.
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Usd/cnh Closes up 0.2& 6.4824 in Ny
Pair trade 6.4695-6.4824 offshore SHCOMP index down 2.3% on risk aversion, led by small caps drop
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China halts new registration of finance institutions - Caixin
China stopped the registration of new finance companies as authorities have begun restraining online finance, according to Caixin. Citing sources privy to the matter, entities with finance-related names can no longer register with the State Administration for Industry & Commerce. Instead, companies will first have to secure approvals from Chinese regulators. Clearing the Internet finance, which commenced on April 14 and will end by January 2016, seeks to eradicate fraudulent acts by some peer-to-peer lenders that endanger financial soundness nationwide. Caixin said the Chinese government will recall licenses for current finance companies that fail inspections during the process.
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Fxwirepro: Usd/jpy Breaks Key Support at 109.48, Japan?s Flash Manufacturing Pmi Data Eye
USD/JPY is currently trading around 109.38 marks.
It made intraday high at 109.49 and low at 109.27 levels.
Intraday bias remains neutral till the time pair holds key support at 109.48 marks.
A daily close below key support 109.48 will take the parity down towards 108.68, 107.86 and 105.72 levels.
On the other side, a sustained close above 109.89 will take the parity up towards 111.30/112.60 levels.
On the top side, initial resistance levels are seen at 109.88, 111.30, and 112.60 marks respectively.
Japan will release flash manufacturing PMI data at 0200 GMT. Market anticipates reading around 49.6 m/m vs 49.1 m/m previous release.
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Japan manufacturing hits lowest since 2013 on recent quakes
Japan's manufacturing sector tumbled the most since 2013 due to recent earthquakes that struck the country, based on official figures. Earlier this month, two major quakes hit Kyushu island, disrupting activity throughout the area. Exporters are also contending with a stronger Japanese yen. Markit reported the manufacturing purchasing managers index declined to 48 in April from 49.1 in March, the lowest since January 2013.
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Fxwirepro: Japanese Yen Recovers from 3 ?week Low in Early Asia, Fomc and Boj in Focus for the Week
USD/JPY is currently trading around 111.35 marks.
It made intraday high at 111.88 and low at 111.25 levels. Intraday bias remains bearish till the time pair holds key resistance at 111.88 marks.
A sustained close above 112 will take the parity higher towards 112.60 and 113.42 levels.
Alternatively, a daily close below 109.89 will drag the parity down towards key supports at 109.48 and 107.87 levels respectively.
This week will be important as U.S. and Japan both will release monetary policy statements.
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Mitsubishi Motors keeps sustaining losses following rigged pollution data
Mitsubishi Motors Corp. shares continued suffering losses Monday as the automaker previously admitted manipulating fuel efficiency tests. Shares slid by around 2.6% following it sustained two-digit declines in the previous week. The Japanese automaker is scheduled to report annual results Wednesday despite reports it will postpone its release.
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