Forex Technical & Market Analysis FXCC Jul 29 2013

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[b]Forex Technical & Market Analysis FXCC Jul 29 2013

Japan's PM Abe rethinks sales tax hike; inflation case strengthens?

Japan's most significant fiscal reform in years, that is, a planned hike from 5% to 8% in sales tax by April 2014, faces the prospects of being delayed or watered down as concerns mount the tax increase may do more harm than good to the delicate economic recovery in the country. According to a report from Reuters earlier on Monday: "PM Abe says he will decide in the autumn whether to proceed with the first part of the two-stage plan after gauging the state of the economic recovery, especially GDP data that is due on Sept 9."


FOREX ECONOMIC CALENDAR :
N/A | Bank of Japan Governor Kuroda Speech
2013-07-29 08:30 GMT | UK. Mortgage Approvals
2013-07-29 14:00 GMT | US. Pending Home Sales (YoY)
2013-07-29 23:50 GMT | Japan. Industrial Production (YoY)

FOREX NEWS :
2013-07-29 05:20 GMT | USD/JPY pulling back after Kuroda headlines make the rounds
2013-07-29 04:50 GMT | GBP/USD capped below big 1.54 figure
2013-07-29 04:44 GMT | EUR/USD approaching flat line for the session after initial upside
2013-07-29 04:09 GMT | AUD/JPY hovering above Friday