Excerpt from: Futures and Commodity News
|
 |
| February 16, 2007 | | Economic data providing support for the yen in spot forex trading | The Japanese yen is receiving a measure of support on the spot forex market as economic data shows an increase in positive numbers. Spread betting, contracts for differences and spot forex trading should consider this analysis from MarketWatch when formulating spread bets, CFDs and even spot forex trades:
Ian Copsey, senior financial analyst at Global Forex Trading, said the most important part of Japan's GDP rise "was the rebound in private sector consumption although this was following a strong decline."
"Considering [BoJ Governor Toshihiko] Fukui's comments that rates will be hiked when growth is strong and prices stable, it would appear to provide a strong argument for this to occur at next week's" interest-rate meeting, Copsey said, in a note.
"This will keep the yen buoyant for a few more days until the meeting next week with speculation rising on a further 0.25% hike." | | |
|
|
