Euro holds steady ahead of Spain’s Catalan elections; dollar awaits data deluge The euro was trading steady on Thursday, keeping an eye on elections under way in Spain’s Catalan region, an event that could end up pressuring the single currency if pro-independence supporters have a strong showing.
The dollar firmed up, largely against the Japanese yen after the Bank of Japan left key interest rates unchanged. It’s also a heavy day for data in the U.S., with weekly jobless claims on tap.
Where are currencies trading? The ICE U.S. Dollar Index DXY, -0.02% a measure of the greenback against a basket of six major rivals, traded at 93.358, little changed from 93.357 late Wednesday in New York. The WSJ Dollar BUXX, +0.01% which measures the buck against a wider basket, was up 0.05% at 86.87.
The dollar traded at 113.52 Japanese yen USDJPY, +0.08% up from ¥113.39 late Wednesday.
The euro EURUSD, +0.0758% traded at $1.1877, little changed from $1.1873. The euro hit a 2½ week high on Wednes..Read More →

BOJ Maintained Accommodative Policies, Kuroda Sent No Signal About Normalization As widely anticipated, BOJ again voted 8-1 to leave the monetary policies unchanged in October. The targets for short- and long-term interest rates stay at -0.1% and around 0%, respectively while the guideline for JGB purchases remains at an annual pace of about 80 trillion yen. The central bank has turned more upbeat on the economic outlook, especially on Capex and consumption. Goushi Kataoka was again the lone dissent as he supported bond purchases so as to facilitate the decline of 10-year (or over) bond yields. Governor Kuroda's speech at the press conference has not tilted towards less easing/ policy normalization in the near-term
BOJ reiterated that domestic economic is 'expanding moderately'. Policymakers noted that 'business fixed investment has continued on an increasing trend'. This is compared with October's reference that 'business fixed inve..Read More →

Trade Idea : USD/JPY – Buy at 112.80 USD/JPY – 113.53
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 113.42
Kijun-Sen level : 113.32
Ichimoku cloud top : 112.88
Ichimoku cloud bottom : 112.70
Original strategy :
Buy at 112.80, Target: 113.70, Stop: 112.45
Position : –
Target : –
Stop : –
New strategy :
Buy at 112.80, Target: 113.70, Stop: 112.45
Position : –
Target : –
Stop : –
As the greenback has maintained a firm undertone after staging a strong rebound from 112.03, adding credence to our bullish view for this move to bring test of resistance at 113.75, however, break there is needed to signal the rise from 110.84 low has resumed for headway towards 113.95-00, then towards 114.30-35 later.
In view of this, we are looking to buy dollar on pullback as 112.80-85 should limit downside and bring another rise later. Below 112.50-55 would suggest top is formed, bring test of 112.31 support but only break of latter level would signal th..Read More →

Spain’s Catalan voters head to the polls in a too-close-to-call race Catalans vote for a new regional assembly on Thursday, a ballot that could determine whether separatists in the wealthy Spanish region double down on their secessionist drive or seek to settle their grievances through negotiations with Madrid. Here’s a rundown of what to expect from the ballot—and the impact it might have.
Will separatists win the election?
It is too close to call. Pro-independence parties could again win a majority of seats in the regional assembly, but most surveys indicate they will win fewer than the last Catalan election in 2015. One analysis by Spanish daily El País estimates the three main pro-independence parties could win 68 seats, while the thre e main parties supporting a united Spain could garner 58 in the 135-seat Catalan parliament. Far-left party Podemos, which supports a referendum on independence but wants Catalonia to remain in Spain, could win nine seats.
If separatists win a ma..Read More →