Forex Preview: BOJ Outlook To Continue Boosting The USD/JPY

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1. BOJ Outlook To Continue Boosting The USD/JPY
As expected, BOJ decided to keep its forward guidance unchanged promising to hold the interest rate at the current extremely low level for an extended period of time today. However BOJ has revised down today its forecast for Core CPI for 2018-2019 financial to 0.9% from 1.1%. It also lowered its forecast for 2019-2020 to 1.4% from 1.5% it expected last July and for 2020-2021 to 1.5% from 1.6% it expected in July. BOJ’s outlook is expected to continue to boost the USDJPY throughout the day.*

2. What to Watch When Starbucks (SBUX) Reports Earnings this Thursday
Starbucks is holding strong after a solid Q3 earnings report and its future looks promising. Starbucks’ China bet was further proven by its $1.3 billion takeover of its mainland China operations from a partner in the region. Starbucks also continues to invest in engaging both regular and occasional customers to drive more sales. Starbucks recently opened up its app to non-rewards customers, allowing them to utilize the mobile order-and-pay feature while also giving the company more data about their preferences. As of last quarter, 6 million non-rewards members had registered to use the Starbucks app. The coffee giant’s joint venture with Nestle and its cost-cutting efforts in production are also important for investors to keep an eye on.**

3. Gold Hits Two-Week Low
Gold prices fell to a more than two-week low on Wednesday as Asian stocks gained and the dollar touched multi-month highs on upbeat U.S. economic data. The yellow metal remained on track to end a six-month losing streak, the longest since a period that finished in early 1997. Spot gold was last seen trading 0.5 percent lower at $1,219.00 an ounce as of 7:10 GMT, after having touched its lowest since Oct. 12 at $1,215.35 earlier in the session. A stronger dollar and a recovery in equities are expected to continue to put pressure on gold throughout the day. Moving forward, the market will be focusing on the upcoming U.S. non-farm payroll data due on Friday and the U.S. midterm elections next week as investors look for direction.***

You can find and trade all of the above mentioned assets on BDSwiss Forex/CFD platforms.

*Source: Investing, Oct. 31, 2018 6:25 AM GMT
**Source: Reuters, Oct. 31, 2018, 4:16 AM GMT
***Source: FX Leaders, Oct. 31, 2018, 3:03 AM ET

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