Idea of the Day It’s been a long time coming, but the yen is starting to look interesting once again, at least on some of the charts. There was nothing major to emerge from yesterday’s BoJ meeting, but there is a growing perception that the Bank of Japan will be undertaking quantitative easing for longer than anticipated as the 2% inflation target looks ever harder to achieve. From nearly 1% mid-year, ten year government bond yields have falling to just above 0.60% and this, together with changes to legislation on savings accounts, is building a belief that more cash from Japan is going to find its way abroad in the early part of next year. Both USDJPY and more recently EURJPY have broken out of established ranges and the coming few days will be key in determining whether this marks a start of a fresh leg of yen weakening, which has been lacking for the past 4 months. Data/Event Risks EUR: German IFO data released at 09:00 GMT with the market expecting a small rise in both the expectations and current assessment components. Headline index is seen rising from 107.4 to 107.7, with a number higher than this sending the headline index to level last seen in the middle of 2012. CAD: The data focus is on Canada today, with the release of both CPI and retail sales data. As with the US, headline CPI is seen being dragged lower by lower energy prices, which will help pull down inflation to around 0.8%, from 1.1%. Core inflation (leaving out these effects) is seen falling to 1.2% (from 1.3%). USDCAD broke through last week’s highs overnight, now at levels seen nearly 3 months ago above the 1.05 level. Weaker data could put August high of 1.0568 into the spotlight. Latest FX News AUD: Again weaker, weighed down by the persistent salvo of remarks from the RBA on the level of the currency. Comments from Stevens yesterday mentioned intervention (he was “open-minded” on it) and although not initially weighting that much, the increase in tempo has soured the tone. A low was seen in Asia of 0.9168. EUR: The single currency was initially knocked lower to below 1.34 on the back of the weaker than expected PMI data in France. Comments from ECB President Draghi helped the recovery as he essentially undermined a story the previous day speculating on the possibility of a negative deposit rate from the ECB. Furthre reading: Germany’s IFO Business Climate surprises to the upside – EUR/USD breaks 1.35 EUR/USD Nov. 22 – Steady Ahead of German Business Climate FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Daily Look share Read Next This week in the markets: Aussie dollar is the biggest Guest 9 years Idea of the Day It's been a long time coming, but the yen is starting to look interesting once again, at least on some of the charts. There was nothing major to emerge from yesterday's BoJ meeting, but there is a growing perception that the Bank of Japan will be undertaking quantitative easing for longer than anticipated as the 2% inflation target looks ever harder to achieve. From nearly 1% mid-year, ten year government bond yields have falling to just above 0.60% and this, together with changes to legislation on savings accounts, is building a belief that more cash from… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.