It’s a huge day coming up in Asia.
The big focus is the Bank of Japan, the latest scuttlebutt shoved ‘risk’ lower and yen higher on Tuesday:
- BOJ to discuss hike to 0.25% – report
- Another Bank of Japan leak says 0.25% is under consideration
- Nikkei reiterates the worst kept secret. BOJ considering hike to 0.25%
- Forexlive Americas FX news wrap: Bank of Japan leaks the possibilty of 15 bps hike
We know for sure the Bank will be outlining its plans to reduce its buying of Japanese Government Bonds. What’s up in the air is the question of a rate hike. Up 0.15% is the chatter, as you can see. The BoJ do make a habit of disappointing us on these sorts of expectations. Will today be different? I reckon not (for clarity, no rate hike).
Also on the agenda is the official inflation data from Australia, that may have an impact on the next Reserve Bank of Australia meeting on August 5 and 6.
Official PMIs from China are also on the agenda. Both manufacturing and services are expected to fall on the month.
This snapshot from the ForexLive economic data calendar, access it here.
The times in the left-most column are GMT.
The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.
This article was written by Eamonn Sheridan at www.forexlive.com. Source