Daily monitor 12.02.2013 Tuesday

Market news:

Most Asian stocks traded higher during Tuesday’s session after comments from a leading contender to be the next Bank of Japan governor opened the door for immediate monetary easing in the world’s third-largest economy. 

In Asian trading the Japan’s Nikkei 225 rose 2.41% after Haruhiko Kuroda believed by some traders to be a leading contender to be the next BoJ governor, said Japan has the room to deploy additional monetary stimulus in 2013. This is something that the newly appointed PM, Shinzo Abe wants: Unlimited and immediate easing aimed at weakening the yen and curing Japan of its deflationary problems.

Today there will be multiple central bank head speeches. The first one will be SNB Chairman, Jordan at 10:00 GMT, followed by the BoC Governor, Carney at 13:45 GMT, and ECB President. Draghi at 15:30 GMT. Also, keep an ear out on news out of the ECOFIN Meetings, attended by the EU's finance ministers.

The EUR is trading lower against its major counterparts this morning as traders remain on the sidelines.

Intraday options that are due to expire today at 15:00 GMT.

EUR/USD – 1.3390, 1.3400

USD/JPY – 92.50, 93.60

AUD/USD – 1.0200, 1.0260. 1.0400

GBP/USD – 1.5800

Important economic data scheduled for today:

09:30 CPI (UK) – Previous: 2.7%, forecast: 2.7%. It measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer.