Discussion in 'Trading' started by OffShoreTrader, Nov 20, 2006.
[Japan govt's NOV REPORT] NKS report the govt will downgrade its assessment...
[Japan govt's NOV REPORT] NKS report the govt will downgrade its assessment of the economy for the first time in 23 months, citing weakness in consumption. In its Nov report due later today, the Cabinet Office will describe the economy as "recovering although weakness is detected in consumption," a change from "the economy is recovering," a phrase it had used since Feb 2006. There will be no change in the govt's basic view that the economy is on a growth path, but the report will say the spread of the economic expansion from the corporate sector to households has been somewhat slow. NKS cited Economy Min Ota saying no concerns have emerged yet that economic growth will falter or slip into a lull.
As far as I know....
That would affect USDJPY much more if that was the case.
The JPY also pooped for a second.
EUR/USD Blips Up On Trade Mistake - Trader
EUR/USD`s earlier brief blip higher to 1.2837 from about 1.2814 was likely due to a mistaken trade, says senior trader at major Japan bank. Says didn`t see flow directly, but heard rumor that "major U.S. player" bought "huge amounts" of EUR/USD, then sold again little later. Adds, size of move indicates trade was worth over $500 million, could be as much as $1 billion. Tips EUR/USD in 1.2800-1.2850 band for rest of Asia; last 1.2826
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