![](https://decodecapital.com.au/wp-content/uploads/2022/02/Mikyo-2-8.png)
Themes
· General mood is “risk off”
· B.o.J. announces and performs an unlimited purchase of 10-year JGBs in the market
· B.o.E. Governor Bailey hit the tapes in our time zone, but said nothing market moving
What’s Moving
It was a quiet start to the week, with all the majors opening within tight ranges in Asia, before an announcement from the BoJ that they would buy an unlimited number of 10-yesar JGBs. This saw USD/JPY pop higher and trade to fresh seven-year highs.
There was some scrappy position adjustment trades in early afternoon dealings, which saw the Euro, Swissy and Sterling all slightly weaker against the USD.
There is a stack of key U.S. data to be released this week including GDP, Initial Claims and Payrolls.
Data tonight sees:
· U.S. Goods Trade Balance (E: -106.4bln)
· U.S. Preliminary Wholesale Inventories (+1.3%)