A bout of positive news, including new developments on the Greek debt talks, have poised today’s rally in Asian markets. Japanese bourses led the way with the Nikkei closing at 18,199, after BoJ governor Kuroda announced no changes to the current QQE purchase program of Y80 trillion per year. The announcement has helped weaken the Yen to Y119.21 versus the US Dollar. Meanwhile, Chinese exchanges were closed for Chinese New Year eve.
In Europe bourses are currently rallying as Greek officials will supposedly submit a request for a six-month extension for the repayment of outstanding loans later in the day. Moreover, the British Pound has jumped 0.91% to 1.3577 against the Euro, on positive employment data in the UK.
Looks like it will be a busy day in the US as investors prepare to receive updates on industrial production, PPI, housing starts, and finally, the outcome of the latest FOMC meeting.