AceTraderFx Jan 15: Intra-Day News and Views (USD/JPY) & data to be released today

[B]Intra-Day Market Moving News and Views
15 Jan 2015 [/B] [I]00:53 GMT[/I]

[B]USD/JPY[/B] ...... The dlr continued its o/n gain in Asia on lower-than-expected Japan's core machinery orders and rebound in the Nikkei. 

Reuters reported Japan’s core machinery orders rose less than expected in Nov due to declining orders in the manufacturing sector, suggesting companies are still cautious about capital expenditure due to worries about domestic demand.

Compared with a year earlier, core orders, a highly volatile data series regarded as an indicator of capital spending in the coming 6 to 9 months, tumbled 14.6%. The median estimate was for a 5.8% annual decline.

The Cabinet Office lowered its assessment of machinery orders, saying the recovery is showing signs of stalling. If business investment remains weak, more economists could start to question Abe’s argument that his policies are leading to a revival of Japan’s hollowed-out manufacturing sector.

The 1.3% rise in core orders, which exclude those of ships and electric power utilities, compared with a 5.0% rise forecast by economists in a Reuters poll. It followed a 6.4% decline in Oct.

Reuters reported BoJ Governor Haruhiko Kuroda said on Thur the economy is recovering moderately as a trend with the pain from a sales tax hike in Apr subsiding.

“The BOJ will maintain its quantitative n qualitative easing for as long as needed to achieve and stably maintain 2% inflation,” Kuroda said in a speech at a quarterly meeting of the bank’s regional branch managers.

The BOJ has kept monetary policy steady since expanding its massive stimulus programme in Oct last year, a move aimed at preventing weak demand n slumping oil prices fm delaying an end to deflation.
“Japan’s economy continues to recover moderately as a trend; BOJ’s QQE programme exerting its intended effects on economy; BOJ will maintain QQE for as long as necessary to stably achieve 2% inflation; BOJ will adjust policy as needed, looking at upside, downside risks to economy, prices.”

[B]Thursday[/B] will see the release of Japan’s Corp Goods Price and Machinery Orders, U.K.'s RICS Housing Survey, Australia’s Employment, Unemployment, Participation Rate, Germany’s GDP, euro zone trade balance, U.S.'s initial jobless claims PPI, NY Fed Manufacturing, Philly Fed Business Index.

[B]Intra-Day Market Moving News and Views
16 Jan 2015[/B] [I]02:19GMT[/I]

[B]USD/JPY[/B] - ....... Although the greenback staged a brief bounce in Asian morning after yesterday's cross-inspired sell off to an intra-day low at 115.90 in Australia, renewed selling at 116.57 capped dlr's upside n the pair ratcheted lower after comments from Japan ECOMIN Amari. 

Stops below 115.90 are now in focus, however, some bids are located at 115.70-60 with mixture of bids and stops seen at option barrier at 115.50.
On the upside, offers are tipped at 116.40-50 n more at 116.80.

Nikkei-225 index currently tumbled by 466 points to 16643. Market players should pay close attention to the Japanese stock markets as USD/JPY may rebounded on short-covering if Japanese shares recover some losses.

In other news, the People’s Bank of China gave a 20 billion yuan ($3.2 billion) re-loan loan quota to banks to support agriculture and 30 billion yuan to boost smaller companies, according to a statement on its website. The move aims at lowering financing costs, it said.

[B]Friday [/B]will see the release of Germany’s CPI and HICP, France Budget Balance, Switzerland Retail Sales, euro zone inflation reports, U.S. CPI, Industrial Output, Capacity Utilization, manufacturing output, University of Michigan Sentiment, Net Long-Term Flows.

[B]Intra-Day Market Moving News and Views
19 Jan 2015[/B] [I] 01:56GMT[/I]

[B]USD/JPY[/B] - ....... Despite initial bounce to 117.66 in Tokyo morning due to the rise in Nikkei-225 index, selling interest below last Friday's NY high at 117.76 capped dlr's upside and renewed risk aversion due to the plunge in China stock markets (down over 7%) prompted investors to buy Japanese yen. 

The greenback fell to an intra-day low of 116.96 in Asian morning before recovering.
Offers are now tipped at 117.30-40 and more at 117.50-60.
On the downside, some stops are reported below 116.90, however, bids are located at 116.80-70.

The Bank of Japan will meet over the coming two days, with all 33 economists surveyed by Bloomberg News forecasting no change to monetary policy after it boosted an already unprecedented bond-buying program in October.

[B]Data to be released this week: [/B]

U.K. Rightmove House Price Index, Japan’s Industrial Output, Capacity Utilization, Consumer Confidence, Switzerland’s Producer/Import Price, euro zone’s Current Account [B]on Monday.[/B] U.S. Holiday for Martin L. King’s Birthday.

New Zealand’s NZIER Business Confidence, China’s GDP, Retail sales, Industrial Output, Germany’s Producer Prices, ZEW Current Conditions, ZEW Economic Sentiment, Italy’s Trade Balance, euro zone’s ZEW Economic Sentiment, U.K. CBI Trends, U.S.'s Redbook, NAHB Housing Market Index [B]on Tuesday. [/B]

New Zealand’s CPI, Australia’s Westpac Consumer Confidence, Japan’s BoJ rate decision, Monetary Policy Statement, Leading Economic Index, BoE MPC vote outcome, Average Earnings, ILO unemployment rate, Claimant Count Unemployment Change, Canada’s Wholesale Trade, BoC’s rate decision, U.S. Housing Starts and Building Permits [B]on Wednesday. [/B]

New Zealand’s Manufacturing PMI, Australia’s HIA New Home Sales, Italy’s Industrial Orders, Industrial sales, Retail Sales, U.K.'s PSNB, PSNCR, CBI Trends (Orders), ECB’s rate decision, U.S. Monthly Home Price, Markit Manufaturing PMI, euro zone’s Consumer Confidence [B]on Thursday. [/B]

Japan’s Manufacturing PMI, China’s HSBC Manufacturing PMI, Markit Manufacturing PMI and Service PMI for France, Germany and euro zone, Italy’s Trade Balance, U.K.'s Retail Sales, Canada’s Retail sales, CPI, U.S.'s Existing Home Sales and Leading Index Change [B]on Friday.[/B]

[B]Intra-Day Market Moving News and Views
22 Jan 2015[/B] [I]02:05GMT[/I]

[B]USD/JPY[/B] - ....... Despite yesterday's brief but sharp drop to 117.18 after BOJ's rate decision that it maintained its monetary policy, the greenback rebounded strongly to 118.17 in NY on active short-covering, suggesting the pullback from Tuesday's high at 118.87 has possibly ended there. 

Bids are now reported at 117.80-70 n more at 117.50 with stops only seen below yesterday’s low at 117.18.
On the upside, offers are tipped at 118.15-20 and 118.40.

In other news, reports showed that margin traders in Japan raised bets the yen would fall against the dollar to a record.
Positions betting against the yen were 522,856 contracts on January 15, the biggest net shorts since Tokyo Financial Exchange Inc. Click 365 began collecting the data in 2006.

Yesterday although the greenback fell sharply in Asia as BoJ announced no new measures for monetary policy easing and dropped to 117.30 ahead of European open, price staged a short-covering rebound to 117.91 in European morning. However, renewed selling emerged there and price tumbled to session low at 117.19 in NY morning before staging a recovery to 117.79.

[B]Thursday[/B] will see the release of New Zealand’s Manufacturing PMI, Australia’s HIA New Home Sales, China’s MNI Business Sentiment, Italy’s Industrial Orders, Industrial sales, Retail Sales, U.K.'s PSNB, PSNCR, CBI Trends (Orders), ECB’s rate decision, U.S. Jobless Claims, Monthly Home Price, Markit Manufacturing PMI, euro zone’s Consumer Confidence.

[B]Intra-Day Market Moving News and Views
23 Jan 2015[/B] [I]01:50GM[/I]T

[B]USD/JPY[/B] - ...... Reuters reported Japanese manufacturers began the new year on a strong note as domestic and overseas orders picked up, a survey showed on Friday, suggesting the economy is shrugging off a slump in consumer spending last year that triggered a recession. 

The Markit/JMMA flash Japan Manufacturing PMI rose to a seasonally adjusted 52.1 in Jan from a final 52.0 in December.
Japan’s economy is expected to grow an annualised 3.2% in the 4th quarter of last year and an annualised 2.1% this quarter, rebounding fm a mild recession after a sales tax increase last Apr, according to a Reuters poll.

Economists expect growth in consumer spending, exports and capital expenditure to drive growth this year.
A decline in oil prices could also help lower fuel costs for Japan n give the economy a further boost.
Manufacturers also hired new staff for the 4th month running, the survey showed.

Comment from Japan’s FINMIN, quote:
‘praise ecb for taking steps to support economy, avoid deflation’
‘appropriate for boj to change its forecasts in response to changing economic environment’
‘boj never said it would meet inflation target exactly in fiscal 2015’

[B]Friday [/B]will see the release of Japan’s Manufacturing PMI, China’s HSBC Manufacturing PMI, Markit Manufacturing PMI and Service PMI for France, Germany and euro zone, Italy’s Trade Balance, U.K.'s Retail Sales, Canada’s Retail sales, CPI, U.S.'s Existing Home Sales, Markit manufacturing PMI and Leading Index Change.

[B]Intra-Day Market Moving News and View
26 Jan 2015[/B] [I]02:10GMT[/I]

 [B]USD/JPY[/B] - ...... Despite early brief drop to 117.27 due to the decline in Nikkei-225 index after Greek official projections showed Greece's anti-austerity Syriza party wins the Greek election, the greenback rebounded on short-covering together with cross unwinding in jpy (eur/jpy dropped briefly to 130.15 b4 rebounding strongly to 132.10). 

However, offers at 117.85-95 are likely to cap dlr’s upside somewhat with stops only seen above 118.00.
On the downside, some bids are located at 117.60-50 and more at 117.30-20 with stops seen at 117.00.

Bank of Japan Governor Haruhiko Kuroda said in an interview with Bloomberg Television on Friday that the lender may need to get creative in any further monetary stimulus, reiterating that if inflation expectations are “seriously” affected by disinflation, policy can be changed.

On the data front, Japan’s exports rose more than forecast in December, reaching the highest level in six years and paring a record annual trade deficit caused by energy purchases and a surge in imports before April’s sales-tax increase.

Japan’s annual trade deficit widened for a third straight year, rising to 12.8 trillion yen in 2014 from the previous year’s 11.5 trillion yen.
That was the largest in comparable data back to 1979. Japan’s trade balance turned negative in 2011 for the first time.

Also, Japanese exports rose 12.9% in December from a year earlier, MoF data showed on Monday, up for a 4th straight month in a sign of a steady recovery in shipments helped by a weak yen n a pick-up in overseas demand.
The reading compared with forecast of an 11.0% increase, following a 4.9% y/y gain in Nov.
It was the fastest growth in a year. Imports rose 1.9%in the year to Dec, versus economists’ median estimate of a 2.3% gain. That resulted in a trade deficit of 660.7 billion yen ($5.6 billion), extending a record run of shortfalls to 30 months.

[B]Data to be released this week: [/B]

Australia market holiday. Japan’s Trade Balance, Exports, Imports, BoJ meeting minutes, Germany’s Ifo Business Climate, Ifo Current Conditions, Ifo Expectations, Eurogroup meeting, U.K.'s BBA Mortgage Approvals, euro zone’s Retail Sales [B]on Monday. [/B]

Australia’s NAB Business Conditions, NAB Business Confidence, China’s CB leading economic index, France’s Business Climate, EU FinMin meeting, U.K.'s GDP, U.S.'s Durable goods orders, Redbook, Markit Service PMI, New Home Sales, Consumer Confidence[B] on Tuesday[/B].

Australia’s CPI, RBA Trimmed Mean CPI, Switzerland UBS Consumption indicator, Germany’s Gfk Consumer Sentiment, Import Price index, France’s Consumer Confidence, FOMC rate decision and monetary policy statement, RBNZ rate decision[B] on Wednesday. [/B]

New Zealand’s Trade Balance, Exports, Imports, Japan’s Retail Sales, Australia’s Exports, Imports, France’s Consumer Spending, Germany’s Unemployment rate, unemployment change, CPI, HICP, Italy’s Wage Inflation, euro zone’s Business Climate, Consumer Inflation Expectation, Consumer Confidence, Economic Sentiment, Industrial Sentiment, Italy’s Consumer Confidence, U.K.'s CBI Distributive Trades, U.S.'s Pending home sales [B]on Thursday. [/B]

Japan’s Unemployment Rate, All Household Spending, CPI, Industrial output, Construction orders, Housing Starts, Australia’s PPI, France’s Producer Prices, KOF indicator, Italy’s Unemployment Rate, Producer Prices, U.K.'s Gfk Consumer Confidence, Mortgage Approvals, euro zone’s Unemployment Rate, Inflation ex Food & Energy, Canada’s GDP, U.S. PCE, Chicago PMI, University of Michigan Sentiment [B]on Friday.[/B]

[B]Intra-Day Market Moving News and Views
27 Jan 2015[/B] [I]02:11GMT[/I]

[B]USD/JPY[/B] - ...... The greenback rose strongly from Monday's low at 117.27 to 118.50 and then 118.66 in Tokyo morning today on renewed risk appetite amid optimism Syriza's victory in elections won? lead to a Greek exit from the euro area. 

Bids are now located at 118.25-20 and more at 118.10 with mixture of bids and stops seen at 118.00.
On the upside, offers are tipped at 118.70-80 with sizeable stops building up above 118.90 and 119.00.

Yesterday although the greenback opened lower in NZ and dropped to session low at 117.18 ahead of Asian open, price rebounded to 117.83 at Asian open and continued to trade with a firm bias.
Dlr, then rallied to session high at 118.49 at NY open due partly to broad-based cross-unwinding of the Japanese yen before retreating briefly to 118.13 in NY morning.
However, renewed buying there lifted the pair and price recovered to 118.47.

[B]Tuesday[/B] will see the release of Australia’s NAB Business Conditions, NAB Business Confidence, China’s CB leading economic index, France’s Business Climate, EU Finance Ministers meeting, U.K.'s GDP, BBA Mortgage Approvals, U.S.'s Durable goods orders, Redbook, Markit Service PMI, New Home Sales, Consumer Confidence

[B]Intra-Day Market Moving News and Views
29 Jan 2015[/B] [I]01:27GMT[/I]

[B]USD/JPY[/B] - ........ Although the greenback briefly dropped to 117.27 in NZ/AUS due to the decline in Nikkei-225 index futures following the sell off in U.S. stock markets after Fed kept interest rate unchanged as expected, short-covering lifted the pair in Tokyo morning. 

Bids are now located at 117.60-50 and more at 117.30 with stops building up below 117.10.
On the upside, offers are tipped at 117.90-00 and more at 118.20-25.

The Fed acknowledged global risks in its statement Wednesday, saying that it will take into account readings on “international developments” as it decides how long to keep key rates near zero.
Policy makers said inflation will probably slow further. U.S. oil supplies climbed to their highest level in data going back more than 30 years, exacerbating concerns over a global supply glut.
The Fed also said it’s confronting divergent economic forces as it weighs the timing of the first U.S. rate increase since 2006.
Surprisingly strong job gains argue for tightening sooner, while inflation held down by a plunge in oil prices and a cooling global economy provides grounds for delay.

In other news, Chinese regulators plan to start a new round of checks on the margin lending businesses of brokerages as soon as this week, people familiar with the situation said.

On the data front, Japanese retail sales unexpectedly fell in December, slid 0.3% from November for a third straight monthly decline, the trade ministry said Thursday in Tokyo.
Earlier Japan PM Abe said peace, stability of Middle East important for Japan’s energy strategy, while Japan will not give in to terrorism, it will continue to cooperate closely with international community.

[B]Thursday[/B] will see the release of New Zealand’s Trade Balance, Exports, Imports, Japan’s Retail Sales, Australia’s CB leading indicator, Exports, Imports, France’s Consumer Spending, Germany’s Unemployment rate, unemployment change, CPI, HICP, Italy’s Wage Inflation, euro zone’s Business Climate, Consumer Inflation Expectation, Consumer Confidence, Economic Sentiment, Industrial Sentiment, Italy’s Consumer Confidence, U.K.'s Nationwide House Prices, CBI Distributive Trades, U.S.'s Initial Jobless Claims, Pending home sales

[B]Intra-Day Market Moving News and Views
29 Jan 2015[/B] [I]07:00GMT[/I]

[B]USD/JPY[/B] - ...... Comments from Japan BoJ's Kuroda, quote: 

‘prices rising in japan reflecting improvements in corporate revenues, wages;
QQE exerting intended effect on economy;
Japan prices continue to rise as a trend despite pressure from oil price falls;
Japan consumer inflation may fall due to oil price falls, but lower oil costs benefit economy;
inflation likely to accelerate in latter half of next fiscal year, hit 2% in period centering fiscal 2015;
no change to our monetary policy stance, which is to aim for 2% inflation in roughly two years;
what is important is to look not just at prices of individual goods but also medium- to long-term trend of inflation;
Japan’s output gap has narrowed near zero, companies signalling eagerness to raise wages;
no change to factors that determine price trend, including output gap n inflation expectations;
have been saying since April 2013 that 2% inflation will be achieved at period centering fiscal 2015;
timing of Japan hitting 2% inflation may change somewhat depending on oil price moves.’

[B]Intra-Day Market Moving News and Views
30 Jan 2015[/B] [I]01:33GMT[/I]

[B]USD/JPY [/B]- ..... Reuters reported earlier Japan's core consumer inflation slowed for a 5th straight month in December hit by collapsing oil prices, keeping the central bank under pressure to meet its ambitious 2% inflation target. 

But factory output rose 1.0% in December helped by a much-awaited rebound in exports n manufacturers expect to increase production in January, boding well for an economy emerging from recession.
The pick-up in output backs up the BoJ’s argument that a solid economic recovery will help accelerate inflation toward its target early next year, although oil price falls will continue to weigh on inflation in the short run.

The gov’t raised its assessment on output to say it is “picking up moderately.” In the previous month, it said output was flat.
Japan’s economy slipped into recession in the 3rd quarter of last year as exports failed to pick up n last Apr’s sales tax hike cooled consumer spending.

Analysts expect the economy to have expanded an annualised 3.2% in Oct-Dec as the tax-hike pain subsides, a Reuters poll showed.
In a sign the recovery will be fragile, however, household spending fell 3.4% in the year to December, separate data showed on Friday, more than a median market forecast.

Yesterday despite dlr’s brief bounce from 117.88 to 117.16 in NY morning after the release of lower-than-expected U.S. jobless claims, selling interest below European high of 117.18 capped such gain there n price later retreated to 117.83.

The U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending January 24 decreased by 43K to a seasonally adjusted 265K from the previous week’s total of 308K. Market had expected U.S. initial jobless claims to decline by 8K to 300K last week.

[B]Friday[/B] will see the release of Japan’s Unemployment Rate, All Household Spending, CPI, Industrial output, Construction orders, Housing Starts, Australia’s PPI, France’s Producer Prices, KOF indicator, Italy’s Unemployment Rate, Producer Prices, U.K.'s Gfk Consumer Confidence, Mortgage Approvals, euro zone’s Unemployment Rate, Inflation ex Food & Energy, Canada’s GDP, U.S. PCE, Chicago PMI, University of Michigan Sentiment.

[B]Intra-Day Market Moving News and Views
02 Feb 2015[/B] [I]01:48GMT[/I]

[B]USD/JPY[/B] - ...... Despite early gap-down opening to an intra-day low at 116.69 (Reuters) due to the decline in Nikkei-225 index following the sell off in global stock markets (Dow Jones index closed down 252 points or 1.45% to 17165), the greenback rebounded on short-covering in part due to the release of slightly better-than-expected Japan's manufacturing PMI which came in at 52.2 versus previous reading of 52.1. 

Bids are now located at 117.20 and 117.10-05 with stops seen at 117.00.
On the upside, some offers are tipped at 117.60-65 and more at 117.80.

Dlr gapped lower at NZ open to a 2-week low of 116.69 (Reuters) with some traders cited the initial sell off on downbeat China mfg & services PMIs released on Sun.

Reuters reported China’s factory sector unexpectedly shrank for the first time in nearly 2-1/2 years in Jan n firms see more gloom ahead, an official survey showed, raising expectations that policymakers will take more action to forestall a sharper slowdown.

The official PMI fell to 49.8 in Jan, the National Bureau of Statistics said on Sun, a low last seen in Sept 2012 n a whisker below the 50-point level that separates growth from contraction on a monthly basis.

The Dec level was 50.1, n a Reuters poll saw a better result, 50.2 for Jan. Only one of 11 economists in the poll predicted a Jan contraction. In addition, China’s services PMI also fell to a 1-year low in Jan at 53.7 from Dec’s reading of 54.1.

[B]Data to be release this week: [/B]

Japan’s Manufacturing PMI, China HSBC Manufacturing PMI, Switzerland’s Markit/ADACI Manufacturing PMI, euro zone Manufacturing PMI, UK’s Markit/CIPS Manufacturing PMI, U.S.'s PCE Price index, Personal consumption, Personal Spending, Markit Manufacturing PMI, Construction Spending, ISM Manufacturing PMI, and Canada RBC Manufacturing PMI [B]on Monday. [/B]

Australia Trade Balance, Exports, Imports, Bulling Approvals, RBA rate decision and monetary policy statement, Switzerland’s Trade Balance, UK’s Markit/CIPS Construction PMI, Italy’s CPI, euro zone Producer Prices, Canada Producer Prices, U.S> Redbook, Factory orders [B]on Tuesday. [/B]

New Zealand’s HLFS Job Growth, HLFS Unemployment rate, Labour Cost Index, China HSBC Service PMI, Italy’s Markit/ADACI Service PMI, France’s Markit Service PMI, Germany Markit Service PMI, euro zone’s Markit Service PMI, Retail Sales, U.S. ADP National Employment, Markit Service PMI, ISM non-Manufacturing PMI, Canada Ivey PMI [B]on Wednesday. [/B]

Australia’s HIA New Home Sales, Retail Sales, Switzerland’s Consumer Confidence, Germany’s Industrial Orders, UK’s BoE rate decision and QE Total, U.S.'s International Trade, Labour Costs, Initial Jobless Claims, Canada Trade Balance, Exports, Imports [B]on Thursday. [/B]

Japan’s Coincident Indicator, Leading Indicator, Germany’s Industrial Output, France Budget Balance, Trade Balance, Exports, Imports, Switzerland’s Retail Sales, UK’s trade Balance, U.S.'s Average Earnings, Unemployment Rate, Non-Farm Payroll, Canada’s Unemployment rate, Unemployment Change, Building Permits [B]on Friday[/B].

[B]Intra-Day Market Moving News and Views
06 Feb 2015[/B] [I]00:21GMT[/I]

[B]USD/JPY[/B] - ...... A piece of Reuters news which came out ahead of Tokyo open worth noting. FinMin Taro Aso said on Friday Japan will tell next week's gathering of G20 finance chiefs that the country's economy is steadily improving and that Tokyo will continue with efforts on fiscal consolidation. 

Speaking to reporters after a cabinet meeting, Aso reiterated that terrorist financing may be discussed at the G20 meeting in Istanbul, adding that Japan will pledge to continue humanitarian aid to countries coping with terrorism.
Aso said the G20 will debate issues including the global economy, growth strategies, investments, IMF reform, financial regulation and taxation.

Yesterday although the greenback rebounded after holding above Asian low at 117.03 and then briefly rose to 117.56 shortly after New York open, release of mixed U.S. eco. reports capped intra-day gain there so far n dlr retreated to 117.37.
Earlier in New York, U.S. released upbeat U.S. jobless claims data but a disappointing U.S. trade balance report.
The U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending Jan 31 increased by 11K to 278K from the previous week’s revised total of 267K.
Market had expected initial jobless claims to rise by 23K to 290K last week. In a separate report showed that the U.S. trade deficit widened to $46.56 bln in Dec from $39.75 bln in Nov, whose figure was revised from a previously estimated deficit of $39.00 bln. Market had expected the trade deficit to narrow to $38.00 bln in Dec.

[B]Friday[/B] will see the release of Australia’s RBA monetary policy statement, Japan’s Coincident Indicator, Leading Indicator, Germany’s Industrial Output, France Budget Balance, Trade Balance, Exports, Imports, Switzerland’s Retail Sales, UK’s trade Balance, U.S.'s Average Earnings, Unemployment Rate, Non-Farm Payroll, Canada’s Unemployment rate, Unemployment Change, Building Permits. Market holiday in New Zealand on Friday.

[B]Intra-Day Market Moving News and Views
16 Feb 2015[/B] [I]00:24GMT[/I]

   [B]USD/JPY[/B] - ...... Breaking news from Reuters, Japan ECONMIN Amari comments, quote:

GDP deflator shows favourable situation towards beating deflation;
expect firm private demand - led economic recovery ahead;
hope wage hikes will materialise this year;
Q4 GDP growth due to private consumption backed by improving job market, exports to US and China.

Japan’s economy grew an annualised 2.2% in Oct-Dec to emerge from a recession triggered by last year’s sales tax hike, boding well for premier Shinzo Abe’s efforts to beat back decades of stagnation.
But the expansion was smaller than a 3.7% increase forecast in a Reuters poll, suggesting a fragile recovery for the world’s third-largest economy as consumer mood remained soft and uneven global growth weighed on exports.

Amari further says, quote:
real wages increases and consumer sentiment key to private consumption ahead;
real wages turned positive in December and consumer sentiment improved; improvement in consumer sentiment gives reason to be positive about future; delay in second sales tax hike was one factor behind improvement in consumer sentiment in Dec;
agreement by some firms to increase wages also helped consumer sentiment.

[B]Data to be release this week:[/B]

New Zealand’s Retail Sales, Japan’s GDP, Capacity Utilization index, Industrial Output, U.K.'s Rightmove House Price, euro zone’s Trade Balance [B]on Monday.[/B] Markets in U.S. will be closed due to President’s Day Holiday.

Australia’s RBA Meeting Minutes, China’s House Prices, Italy’s Trade Balance, U.K.'s CPI, PPI, RPI, Germany’s Zew reports, U.S.'s Redbook, NAHB Housing Markets, Net L-T Flows, Overall Capital Flows [B]on Tuesday.[/B]

Australia’s CB Leading Indicator, Westpac Leading Index, Japan’s BoJ rate decision and press conference, U.K.'s Average Earnings, Claimant Count, ILO Unemployment Rate, BoE’s MPC vote outcome, BoE’s meeting minutes, Switzerland’s ZEW Investor Sentiment, Canada’s Wholesale Trade, U.S.'s Building Permits, Housing Starts, Industrial Output, Capacity Utilization and Fed FOMC minutes [B]on Wednesday.[/B] Market in China will be closed due to Chinese New Year Holiday.

Japan’s Trade Balance, Exports, Imports, Switzerland’s Trade Balance, France’s CPI, euro zone’s Current Accounts, Consumer Confidence, U.K.'s CBI Trends, U.S.'s Leading Index Change, Intiail Jobless Claims, Philadelphia Fed Manufacturing Index [B]on Thursday.[/B]

Japan’s Reuters Tankan DI, Germany’s Producer Prices, Markit’s Manufacturing Index and Service Index for Germany, Italy and euro zone, Italy’s Industrial Orders, CPI, U.K.'s PSNB, PSNCR, Retails Sales, Canada’s Retail Sales [B]on Friday.[/B]

[B]Intra-Day Market Moving News and Views
16 Feb 2015 [/B] [I]08:13GMT [/I]

	[B]USD/JPY[/B] - ..... Dlr traded in choppy fashion in Asian session. Despite initial weakness to 118.20 in shortly after NZ open, lack of follow-through selling quickly lifted the pair. 

The intra-day higher open in the N225 index and then gain to a near 8-year peak of 18074 boosted risk appetite, dlr rebounded to 116.79 before coming off to 118.37.

Current sideways move in Europe suggests consolidation with mild upside bias remains.
Bids are noted at 118.40-20 area with stops below there, more stops are touted below 118.00.
Offers are tipped at 118.75/85 and more above with stops reported above 119.20.

Comments from Japan PM Abe says BOJ’s monetary easing has helped create virtuous economic cycle, fend off deflationary mindset; hope BOJ steadily continues bold monetary easing to achieve its price target; specific monetary policy means are left for BOJ to decide, when asked about demerits of excessive monetary easing; expect BOJ to communicate effectively with markets, act in accordance with its stance of adjusting policy as needed in response to upside, downside risks.

Earlier the greenback opened lower to an intra-day low of 118.20 in NZ/AUS today but buying interest quickly emerged and lifted price to 118.79 in Tokyo morning due to the rise in Nikkei-225 index (hit the highest level in nearly eight year) following the strength in global stock markets on Friday.

On the data front, Japan GDP was 0.6% q/q in Q4 2014, weaker than economists’ forecast of 0.9%.
The annualised GDP was 2.2% versus the expectation of 3.7%. Trading is expected to be thin as U.S. market is closed on Monday due to President’s Day Holiday.