Fxwirepro: Japanese Yen Gains After Boj’s Comments

  • USD/JPY is currently trading around 110.65 marks.
     
  • It made intraday high at 110.92 and low at 110.47 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 111.58 marks.
     
  • A daily close above 110.89 will take the parity higher towards key resistances around 111.58, 112.20, 112.86, 114.88, 115.50, 117.21, 118.18, 118.66, 119.52 and 120.46 levels respectively.
     
  • On the other side, a sustained close below 110.89 will drag the parity down towards key supports around 110.17, 109.72, 106.72, 106.03 and 104.96 levels respectively.
     
  • BOJ governor Kuroda – BOJ’s ETF purchases are part of policy to meet 2 pct inflation target.
     
  • BOJ governor Kuroda – Too early to talk about exit strategy from current monetary policy, which includes ETF purchases.
     
  • BOJ governor Kuroda – Not buying ETFs to achieve a specific stock price level.
     
  • BOJ governor Kuroda – ETF purchases are not distorting stock price discovery mechanism.
     
  • BOJ governor Kuroda – No comment on specific FX levels.

The material has been provided by InstaForex Company – www.instaforex.com

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Prime News: Gold Prices Reach 1-Week Peak on Geopolitical Concerns

Gold prices notched one-week peaks, bolstered by the weaker dollar, while investors turned to safe-haven assets on concerns over geopolitical unease. The precious metal is frequently seen as an alternative investment in times of financial and geopolitical uncertainty.

Spot gold rose 0.3 percent to $1,255.96 an ounce while U.S. gold futures settled 0.4 higher at $1,258.40. Holdings of SPDR Gold Trust, the world’s biggest gold-backed exchange-traded fund, was up 0.53 percent to 836.77 tonnes from 832.32 tonnes on Friday.

South Africa’s Harmony Gold said a labour court has declared the wildcat strike at the Kusasalethu mine “unprotected” and compelled workers to return to work. West African-focused gold mining firm Avocet Mining Plc has named Boudewijn Wentink as its new chief executive officer, in its effort to refinance and restructure the company.

German precious metals group Heraeus Group announced that it has taken full control of Swiss gold and silver processor Argor-Heraeus.

The material has been provided by InstaForex Company – www.instaforex.com

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Australia March Trade Surplus Climbs To A$3.574 Billion

Australia posted a seasonally adjusted merchandise trade surplus of A$3.574 billion in February, the Australian Bureau of Statistics said on Tuesday – surging 138 percent on month.

The headline figure far surpassed forecasts for a surplus of A$1.70 …

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