ZuluTrade Blog

The Bank of Japan increased the asset purchase program today...

Market View | Tuesday, October 30, 2012 3:55 AM GMT

Good Morning ,


- The Bank of Japan increased the asset purchase program today, however the impact on currency markets was only short lived. USDJPY rallied from 79.90-95 to 80.16 and then markets dropped it like a hot potato and USDJPY fell to 79.27. EUrJPY rose to 103.50, dropped to 102.17 and rose again.

- US stocks and bonds markets to remain closed today.

- Stocks: Nikkei -0.98 %, Hang Seng -0.71 %, Shanghai Composite +0.09 %, Dow Jones and S+P were closed

- The insurance industry could be responsible for paying for $5 billion to $10 billion in property and casualty claims from Hurricane Sandy, but it has the resources to make the payouts, industry experts said Monday. Eqecat, a company that tracks natural disasters and estimates their cost, said it expected the storm’s total economic damages to range from $10 billion to $20 billion, which includes damage to homes and cars, and business lost because of the storm. The company said the insurance industry would be responsible for covering $5 billion to $10 billion of that, a smaller amount in part because insurers generally don’t cover the flooding of homes and businesses. A federal government insurance program would most likely pick up much of that uncovered cost.

- The Bank of Japan added to monetary stimulus for the second time in two months. The central bank expanded its asset-purchase fund by 11 trillion yen to 66 trillion yen, it said in a statement in Tokyo today. It kept its separate credit loan program at 25 trillion yen.

- Japan Data Recap                       Period     Survey     Actual       Prior

* Jobless Rate                              Sep         4.2 %       4.2 %      4.2 %

* Overall Household Spending       Sep         0.8 %      -0.9 %      1.8 %

* Industrial Production mom         Sep        -3.1 %      -4.1 %     -1.6 %

* Industrial Production yoy            Sep       -7.1 %       -8.1 %     -4.6 %


- Australia Data Recap              Period        Survey       Actual       Prior

* HIA New Home Sales              Sep               -           -3.7 %     -5.3 %


- South Korean authorities plan to inspect foreign exchange trading at banks operating in the country from next week, a senior finance ministry official said on Tuesday, a move seen as aimed at curbing the won's strength. The central bank and the Financial Supervisory Service -- a financial markets regulator -- plan to jointly investigate the banks to look into their foreign exchange and derivatives trading, the official said.

- India’s central bank cut lenders’ reserve requirements to back a policy revamp by the government aimed at reviving growth, while leaving interest rates unchanged to fight price pressures. Governor Duvvuri Subbarao reduced the cash reserve ratio to 4.25 percent from 4.5 percent, adding about 175 billion rupees to the banking system, the Reserve Bank of India said in Mumbai today. The cut to a 36-year low, the fourth this year, was predicted by 19 of 33 analysts in a Bloomberg News survey, while four expected 4 percent and the rest no change.



1400 US S+P CaseShiller Home Price Index Aug

0955 Spain GDP Q3

0955 Germany Unemployment Rate/Change Oct

1100 Eurozone Consumer Confidence Oct

1100 Eurozone Economic Confidence Oct

1100 Eurozone Serivce Servicence Oct

1100 Eurozone Industrial Confidence Oct

1100 Eurozone Business Climate Oct

0900 ECB Draghi



Have a nice day !

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