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BOJ Monetary Policy on Hold | Euro CPI Hits 1.5%

Published March 15, 2019
  • EURUSD has moved slightly higher this morning, with the pair currently trading at 1.1315. The major focus today is on euro inflation data with German WPI rebounding after recent declines, as well as euro final CPI coming in at 1.5% and Core CPI gaining 1.0%.
  • The loonie is trading flat this morning at 1.3330, down 0.01%. Market participants will be paying close attention to the Empire State Manufacturing Index which is expected to climb to 10.1, while UoM Consumer Sentiment is projected to remain at 95.5 points. In Canadian economic data there is the release of manufacturing sales of which markets are expecting better January estimates.
  • The Bank of Japan provided a more cynical view of the economy in the early hours of Friday, as the central bank left its monetary policy on hold. The central bank said Japan’s exports and production have shown signs of softness, with a downgrade from its January assessment that the nation was on an upward trend.
  • As the annual summit of policy leaders in Beijing comes to a close it has been stated that China will not resort to quantitative easing as it sets policies to support the economy. Premier Li Keqiang said policy makers are content with targeted interventions to combat growing issues of unemployment. Premier Li’s comments included new measures on tackling off-balance sheet debt, foreign investments and trade.