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Today, the USD/JPY rate stands at around 153.20 yen per US dollar, marking a significant shift fueled by the dollar’s strength following reports on US inflation. This has led to the yen weakening to levels not seen since the mid-1990s. A crucial development in the market was the bullish breakout past the 152 yen per
Switzerland’s recent implementation of stringent banking regulations has sparked a debate on its impact on financial institutions, particularly UBS. Beat Wittmann, a partner at Zurich-based Porta Advisors, believes that these regulations could potentially limit UBS’s ability to rival Wall Street giants. The Swiss government’s 22 proposed measures aim to regulate banks deemed “too big to
The EUR/USD pair is facing pressure around 1.0740 as the USD strengthens on Thursday. The unexpected rise in US CPI inflation data for March has pushed the US Dollar to yearly highs, leading to a defensive stance for the major pair in the early Asian session. The European Central Bank (ECB) is widely expected to
AUDCAD has been on a rally mode since April 2, finding support at the uptrend line drawn from the low of September 27. This rally has been confirmed by the pair breaking above the 0.8930 resistance level, now acting as support. The next key level to watch is at 0.9055. Both the MACD and RSI
The EUR/USD pair is currently maintaining a neutral stance, hovering around 1.0851, as the market eagerly awaits crucial updates. These updates include the US inflation data for March and the outcome of the European Central Bank (ECB) meeting set to take place on Thursday. Investors are approaching these impending events with caution, as they could
Despite hitting a new high, CADJPY remains within a range, indicating a potential lack of strong momentum in either direction. The currency pair reached a high of 112.46 last week, the highest level since 2008. However, it has since remained stagnant in the 112.00 area. The market’s ability to stay above the 20-day simple moving
USDJPY has shown a steady uptrend since March, with the pair trading just below the 152.00 level. This level, which was protected by Japanese authorities in 2022, has acted as a key resistance point. The momentum indicators are approaching overbought conditions, indicating a potential slowdown in the uptrend. Despite the recent surge to a 34-year
The Indian Rupee (INR) has been facing challenges in recent days as it lost its recovery momentum against the US Dollar (USD) due to a renewed demand for the greenback. Factors such as Dollar sales from banks, declining crude oil prices, and India’s robust growth outlook have been influencing the currency’s performance. The markets are
NZD/USD has shown signs of attempting a fresh increase above the crucial 0.6000 resistance zone, indicating a shift towards a bullish trend. The pair recently broke a major bearish trend line with resistance at 0.5990 on the 4-hour chart, suggesting a potential reversal in the near future. The New Zealand Dollar started a recovery wave
China is currently facing the challenge of convincing people that home prices are set to rise in order to spur economic activity. Richard Koo, chief economist at Nomura Research Institute, emphasized the importance of creating a narrative that signals the bottoming out of prices and the subsequent upward trend. However, there is uncertainty surrounding whether
A recent press release by Chinese video games giant NetEase revealed a new partnership with Microsoft to bring back popular games, including “World of Warcraft,” to China. This collaboration marks a significant change in the gaming landscape of the world’s second-largest economy. The fallout between NetEase and Blizzard Entertainment, a subsidiary of U.S. gaming giant