The Japanese Yen (JPY) has been facing challenges due to the cautious stance taken by the Bank of Japan (BoJ) and the prevalent risk-on mood in the market. The lack of clarity regarding future rate hikes and the uncertainty surrounding policy normalization have contributed to the weakening of the safe-haven JPY. While the risk-on sentiment
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The current Elliott Wave cycle in the S&P 500 (SPX) suggests that there is an ongoing 5-wave impulse wave that started from the low on January 6, 2024. The wave structure indicates that the index has been moving higher in an impulsive manner, with corrections in between each wave. Breaking down the wave count, the
The Japanese Yen has faced challenges in capitalizing on a modest recovery against the US Dollar, with traders showing concern about potential interventions by Japanese authorities to support the domestic currency. The Bank of Japan’s cautious approach and uncertain outlook for future rate hikes have limited the JPY’s ability to appreciate further. In contrast, the
The ASX 200 Index saw a slight increase, nearing the 7,800 mark, as it recovered from previous losses. The Health Care and Consumer Staples sectors were the top performers, with notable gains in companies such as Aft Pharmaceuticals, Botanix Pharmaceuticals, Skin Elements, and Wingara AG. However, Australian shares faced a slip at the open, mimicking
The US Dollar has been experiencing mild retreats for the past two days in anticipation of key economic data releases. With conflicting views within the US Federal Reserve regarding interest-rate cuts, traders are closely monitoring the upcoming Durable Goods orders along with other important economic indicators. Traders are eagerly awaiting the release of the Durable
The Japanese Yen (JPY) has been facing challenges in gaining significant traction, as intervention fears and uncertainty surrounding the Bank of Japan’s (BoJ) future policy steps continue to impact the currency. Traders are closely monitoring the situation, with some speculating that Japanese authorities may intervene in the markets to prevent further JPY weakness. However, the
The US Dollar (USD) is experiencing a slight retreat on Monday as the trading week begins with a sense of calm. However, traders are gearing up for what is expected to be a choppy and unpredictable week ahead, especially with a bank holiday scheduled for Friday. The US Dollar Index is currently hovering in the
China’s Premier Li Qiang recently spoke about the nation’s economic policies at the China Development Forum in Beijing. He emphasized the importance of increasing domestic demand and ensuring equal treatment for all businesses, both domestic and foreign. One key point he made was that China’s low inflation rate and central government debt ratio provide ample
The Dollar saw a significant increase in value for the second consecutive week due to a rise in US yields, pushing the USD Index (DXY) beyond the 104.00 level. Both the Federal Reserve (Fed) and the Bank of England (BoE) delivered dovish holds, while the Bank of Japan (BoJ) announced a dovish hike after 17
The USD/JPY pair slipped to 151.00 in Friday’s late European session, showcasing the strength of the Japanese Yen against the US Dollar. Japan’s hot inflation data for February played a significant role in boosting investors’ confidence in the Bank of Japan’s (BoJ) decision to pivot towards policy normalization. The annual National headline Consumer Price Index
The EUR/USD pair gained ground for the second consecutive session following the Federal Reserve’s decision to maintain its benchmark rates at 5.5%. Fed Chair Jerome Powell’s remarks in the post-meeting press conference highlighted a dovish stance, which added further pressure on the Greenback. Powell pointed out that while inflation is showing signs of moderation, the
The US Dollar is facing some obstacles as it nears the Federal Reserve rate decision, slipping from its high to below 104.00. Investors are closely watching the US Federal Reserve (Fed) as it prepares to announce its monetary policy statement and provide insight on the number of anticipated rate cuts for the year. The dot