Market movers today
• Main focus are the minutes from the June Fed meeting released yesterday and dovish comments from Fed chairman Ben Bernanke suggesting that Fed tapering in September is not a done deal. US bond yields are markedly lower and USD has weakened significantly.
• As expected Bank of Japan did not announce any easing measures in connection with its monetary meeting. Macroeconomic forecasts were also kept largely unchanged. We are waiting for the press briefing by Bank of Japan governor Haruhiko Kuroda at 08:30 CET.
• Today’s calendar is relatively light. US labour market data are important for the Fed’s tapering decision, so weekly initial unemployment claims should be watched closely. In Europe Bundesbank president Weidmann and ECB’s Couere will speak before noon.
Read the full report: FX Daily
Danske Bank