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Currency market: FX next week

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The BOJ released Producer Prices today and the number is positive 0.1 from -0.1. As written, the range was 0.3 and producer prices reported expected r

Exports at 0.1 Vs Imports at -0.3 is closely balanced on a Yen basis and no reason for BOJ intervention. We will hear the wrong forecasts and usual drumbeats of intervention next week.

DXY remains in a trap to tiny ranges and DXY traded overbought all week. Overbought DXY explains ultra highs to USD/JPY, JPY cross pairs, EUR/AUD, GBP/AUD, GBP/NZD, EUR/NZD, USD/CAD. All are affected by DXY because all are DXY under a different name and number.to 90 ish for EUR/USD. USD/JPY traded 260 pips to DXY 73. USD/JPY traded 3.5 pips to DXY and EUR/USD.

 

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