Key events ahead – Westpac

By FXStreet FXStreet (Guatemala) – Sean Callow, analyst at Westpac Banking Corporation noted the key events ahead.

Key Quotes:

“The calendar is low key in Australia and NZ. The Bank of Japan holds another meeting, less than three weeks after their keenly anticipated semi-annual outlook. There is no expectation of policy change given the steady hand at the key meeting on 30 October. While Governor Kuroda will have to explain why policy settings are correct in the face of persistently low inflation and near-flat GDP, he should continue to find reasons to be optimistic. The announcement is likely to come within the 11:30am-12:30pm Tokyo window, with the press conference at 3:30pm Tokyo. This should be a placeholder meeting and indeed will be one of those dumped in 2016 when the BoJ cuts the annual number of meetings from 14 to 8.

Spot USD/CNY continues to trend higher, closing CFETS trade Wed at 6.3849. While spot yuan was closed, USD/JPY pressed higher but USD was more mixed against other majors. USD/CNH also edged higher overall, to 6.4180 early Sydney. The fixing should thus be around 6.6850-70, compared to 6.3796, which would be the 12th higher USD fixing/weaker yuan out of the past 13 sessions.

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Source:: FX Street