Market news:
Most Asian stocks are spotted higher during Monday’s session, as Japanese shares are surging after G20 nations refrained from overt punishment of Japan regarding the weaker Yen.
The G20 meetings concluded this weekend and officials indicated they will allow the Yen
to continue sliding as long as Japanese officials and policymakers do
not make public statements to push the currency lower. This opens the
door for Japan to continue stimulating it's economy, and perhaps engage
in asset-buying sooner-than-expected.
Earlier
this year, the Bank of Japan said it would engage in open-ended
asset-buying, but the central bank disappointed the markets by delaying
the start of that effort until 2014.
The EUR is trading mixed against the major currencies this morning and European indexes opened slightly in the red.
With
today's light economic calendar and US banks being closed, any further
news coming from the G20 meeting could quickly change the market's
direction. Also, keep an ear out on Draghi's (ECB) speech scheduled for
15:30 GMT today.
Intraday options that are due to expire today at 15:00 GMT.
EUR/USD – 1.3375, 1.3400
USD/JPY – 93.25, 94.00
AUD/JPY – 1.0300
GBP/USD – 1.5600
Important economic data scheduled for today:
No major economic data is scheduled to be released today, and in observance of President’s Day, US banks will be closed.
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