Is there a breeze through!? Bank of Japan Monetary Policy Meeting to be held — Event schedule and focus points for Wednesday, September 19
◎ Economic Indicator Schedule
9/19 (Wednesday)
07:45 NZD Current Account
10:30 AUDKent RBA Deputy Governor Speech
Around 12:00 JPY Bank of Japan Monetary Policy Meeting
15:30 JPYKuroda BOJ Governor Press Conference
17:00 EUR Current Account
17:00 GBPHolden Chief Economist Speech
17:30 GBPCPI (Consumer Price Index)
22:00 USDDraghi ECB President Speech
23:30 USD Crude Oil Inventories
9/20 (Thursday)
EU Summit (Informal)
LDP Leadership Election
07:45 NZDQuarterly GDP
◎ Today’s Highlights
1) Kuroda BOJ Governor Press Conference
Today the BOJ Monetary Policy Meeting will be held. No changes are expected, and it should pass without drama. However, focus will be on Governor Kuroda’s press conference, specifically how long they will continue unconventional/QQE-type measures. Attention will be on forward guidance.
2)Stocks and Long-Term Yields
Yesterday, additional tariffs on China were announced. Yet, stock prices did not react, perhaps already priced in or optimism about continued dialogue? Either way, a risk-on mood may be emerging. Also, long-term yields in the US and Germany have risen, supporting risk-on sentiment. Be mindful of the yuan. If yuan weakens further, it could trigger criticism from President Trump about currency weakness and capital outflows from China.
◎ Current Positions and Strategy
AUD/USD Short position is held.
GBP/JPY Long position remains half-sized and held.
EUR/GBP Short position opened newly.
EUR/USD Short position is in preparation. I would like to place a stop loss at 1.1600.
◎ Records Room
Recording currency strength, stock prices, long-term yields, and key remarks.
↓↓↓ For September 17, please refer to the following. ↓↓↓
Records Room for September 18, 2018 — Key Remarks and Long-Term Yields


