Bank of Japan monetary policy in focus

Trump threatened to raise tariffs on import vehicles and spare parts so this factor keeps scaring world market. EU, Japan, Canada, Mexico and South Korea had the meeting to find the way to handle these tariffs. After Trump decided to tax import steel and aluminum, world leaders realized that U.S. president can take decision on other tariffs. The value of automotive industry and spare parts is higher than steel 11.5 times. As the result, trade war still exists and investors may keep focusing on trade war progress. Moreover, Trump also threatened to shut down U.S. government temporary, if he cannot get budget to build barrier wall from Mexico. I think these factors may swing world markets.
U.S. dollar opened steady against major currencies on Monday because investors may await Fed meeting this week. Today Bank of Japan will release the monetary policy which forecast to raise interest rate 2 times in this year. USD/JPY swung in the frame around 110.7-111.50 points last week and it was continue moving flat in this frame on Monday. In my view, U.S. dollar may fall lower to the support line at 110.7 yen before BoJ press conference. While EUR/USD may continue moving sideways await German, EU and USA economic data which I think euro may get positive support, if inflation rises. ECB already confirm the stimulus policy and hold the low interest until next year. If euro can edge higher than 1.1680 dollar, the MA line may direct up to 1.1750 points.
After Thai SEC permitted 7 cryptocurrencies: BTC, ETH, BCH, ETC, LTC, XRP and XLM trade legally last month, Major Cineplex – one of the large cinema that has 143 cinemas in Thailand prepares to accept cryptocurrencies for its products such as buying movie ticket, popcorn and drinks. While Bitcoin price still move flat around 8,000-8,200 dollar await buy volume.
Economic indices in focus:
• China: Manufacturing PMI and Non-Manufacturing PMI (Jul) at 08.00 a.m.
• Japan: BoJ Monetary Policy Statement, Interest rate decision and press conference
• Germany: Unemployment change (Jul) at 14.55 p.m.
• EU: GDP, CPI and Core CPI (Jul) and unemployment rate (Jun) at 16.00 p.m.
• Canada: GDP (May) at 19.30 p.m.
• USA: CB Consumer Confidence (Jul) at 21.00 p.m.

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