Today's analysis: USDJPY Poised for Increase Amid Bank of Japan's Strategy
The USD/JPY is expected to rise. The Bank of Japan will keep interest rates between 0 and 0.1% and continue its bond purchase plan but may reduce purchases and raise rates in July based on economic data. Technically, the pair is trending upward with resistance at $158.25 and $158.44, and support at $157.00, $156.16, and $155.93.
Soft CPI Hammers Dollar
the U.S. CPI came in lower than market consensus, indicating easing inflation and boosting risk appetite.
Dollar Steadies as the Market Await for FOMC Minutes
The dollar index is poised at its recent high level, while U.S. equity markets eked out marginal gains as the market awaits Wednesday’s crucial CPI reading and the FOMC meeting minutes.
Market Awaits for Crucial NFP
All eyes are on today’s Nonfarm Payroll (NFP) and U.S. unemployment rate data, which could be the final piece of the puzzle for the Federal Reserve's rate cut decision this year.
Dollar Hammers by Soft U.S. Job Data
The dollar tumbled to its lowest level in two months following the disappointing job data, which reinforced bets on a Federal Reserve rate cut.
Soft PMI Reading Hammers Dollar Lower
The U.S. dollar remained on a downward trajectory following the release of yesterday's PMI readings, which fell short of market expectations.
Soft PCE Boost Equity Market
The soft PCE reading last Friday boosted the U.S. equity market, with the expectation of a more dovish Fed monetary policy in the future.
All Eye on Today’s PCE Reading
All attention now turns to the crucial PCE reading, the Fed’s preferred inflation gauge, which is expected to have a direct impact on the dollar.
Dollar Fuels by Strong Treasury Yield
The U.S. 7-year note auction held yesterday saw tepid demand for long-term Treasury yields, resulting in a decline in bond prices and pushing bond yields higher.
Oil prices Bullish As Geopolitical Tension Escalates
Geopolitical tensions in the Middle East have intensified, driving oil prices up by more than 3% since the start of the week
Dollar Dips Ahead of Key Data, Fed Insights
The Dollar Index dipped as investors took profits ahead of key economic data and events later this week
Dollar Gain on Hawkish Fed Prospect
U.S. PMI readings beating market expectations fuels dollar upward momentum.
Gold Prices Back to All-time High Territory
geopolitical issues in Eastern Europe and the Middle East have intensified, driving safe-haven gold prices to all-time high levels.
Eyeing on Today’s Euro CPI
euro traders are awaiting today's CPI reading to gauge the euro's price movement.
Soft CPI Hammers Dollar to Monthly Low
Yesterday’s U.S. inflation gauge, CPI, rattled financial markets as the dollar index (DXY) plunged nearly 1% and equity markets jumped following a reading below market consensus.
Gold Surge on Soften Dollar
gold prices rebounded strongly on the back of the softening U.S. dollar, while oil prices remained steady.
BoJ Trim Bond Buying Amid Weakening Yen
Japanese authorities reduced their bond purchases in regular operations in response to the significant depreciation of the yen.
Soft U.S. Job Data Hammers Dollar
the dollar's upward momentum was abruptly halted by the release of the latest U.S. Initial Jobless Claims data, which surged to levels unseen since last November.
Hawkish Fed’s Comment Strengthen the Dollar
the U.S. Dollar Index (DXY) has experienced a resurgence, presently holding above the 105 mark. This strength is supported by a hawkish tone from Federal Reserve officials.
Soft NFP Spurs Stock Market
Last Friday saw a notable weakening in the dollar, with the dollar index (DXY) declining to its monthly low following the underwhelming U.S. Non-Farm Payroll (NFP) report, which significantly missed market expectations.