FXstreet.com (Barcelona) - Brown Brothers Harriman analysts have
taken a look at the mornings price action ahead of today´s key
central bank meets.
They write, "The dollar and yen are broadly weaker as news of
strong Chinese exports helped lift market sentiment. The dollar is
once again trying to establish a foothold above JPY88.00. While
some resistance is expected near the recent high ~JPY88.40, many
look for a move toward JPY89.20 over the next week, ahead of the
January 21-22 BOJ meeting. EUR/USD is trading near $1.31 as the
positive news stream carried over to Europe. France reported better
than expected industrial output figures and the Spanish and Italian
bond auctions were well-received, sending yields sharply lower."
They continue to explain that, "The US Treasury market is snapping
a four-day advance as the safe haven appeal of core bond markets
has lost some lustre today. The MSCI Asia Pacific index was up
0.8%, most European indices are higher, and S&P futures are
pointing to a 0.2% higher open."