BoJ meeting: A more upbeat tone? | 30/10/17

[IronFX The Global Leader in Online Trading]( 30th October 2017 [start trading]( [open demo account]( All trading involves risk. It is possible to lose all your capital. Main Points of Today BoJ meeting: A more upbeat tone? - During the Asian day Tuesday, the BoJ will announce its rate decision. No change in policy is expected. - We see the case for policymakers to appear more optimistic with regards to the Japanese economy, amid continued improvement in economic indicators. - Although a more upbeat tone could support the JPY a little, we maintain our view that an actual change in the Bank’s ultra-loose policy is still a long way off. Oil spikes up on deal-related OPEC remarks - Oil prices rose on Friday, after OPEC’s Secretary General said that comments from Saudi and Russian leaders “clear the fog” about the upcoming OPEC meeting. - Despite this surge, we are still hesitant to call for a rally in oil prices. - Most of the “good news” about a deal may be priced in already, and WTI is already within the 51-55 zone. Today’s highlights: - US: Personal income and spending for September (12:30 GMT). Both rates are expected to have risen notably, something that could support USD a little, at least on the news. - Germany: Preliminary CPI rate for October (13:00 GMT) is forecast to tick down. Risks surrounding that forecast may be tilted to the upside. A potential positive surprise may prove positive for EUR. As for the rest of the week: - Tue: Besides the BoJ decision, Eurozone’s preliminary CPIs for October are also due out. - Wed: FOMC rate decision. US ADP employment change, and ISM manufacturing PMI, both for October. - Thu: BoE rate decision. A hike is widely expected (78%). Focus may be on signals regarding future hikes. - Fri: US employment data for October. Also, Canada’s employment data for the month. [Download full report]( The Market USD/JPY [Image title] - Support: 113.60 (S1), 113.25 (S2), 112.25 (S3) - Resistance: 114.30 (R1), 114.85 (R2), 115.40 (R3) WTI [Image title] - Support: 53.00 (S1), 51.90 (S2), 51.50 (S3) - Resistance: 54.30 (R1), 55.30 (R2), 56.00 (R3) [View all Market insights]( [View IronFX Week Ahead report]( Economic Calendar [Image title] Prepared by: Charalambos Pissouros and Marios Hadjikyriacos [Facebook]( [Linkedin]( [Instagram]( [Twitter]( [Google+]( [YouTube]( - Tel: +44 (0) 20 3282 7777 - Email: support@ironfx.com High Risk Trading Warning: Our services include products that are traded on margin and carry a risk of losing all your initial deposit. Before deciding on trading on margin products you should consider your investment objectives, risk tolerance and your level of experience on these products. Trading with high leverage level can either be against you or for you. Margin products may not be suitable for everyone and you should ensure that you understand the risks involved. You should be aware of all the risks associated in regards to products that are traded on margin and seek independent financial advice, if necessary. Please read IronFX’s Risk Disclosure statement. Licences and Authorisations IronFX Global Limited is authorized and regulated by CySEC (Licence no. 125/10) Group Licences and Authorisations 8Safe UK Limited is authorized and regulated by the Financial Conduct Authority (FCA no. 585561) GVS (AU) Pty Limited is authorized and regulated by ASIC (AFSL no. 417482) IronFX does not offer its services to residents of certain jurisdictions such as USA, Iran, Cuba, Sudan, Syria and North Korea. [Unsubscribe](