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 Bank of Japan recently made a historic decision to end its negative interest rates policy after eight years of ultra-loose monetary policy. However, a summary of opinions from the bank’s March meeting revealed that many policymakers felt the need to proceed slowly in phasing out this policy. Some members expressed concerns about the economy’s
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President Xi Jinping’s meeting with American business leaders in Beijing at the Great Hall of the People was a strategic move by the Chinese government to woo back foreign investors and reassure international firms about the impact of new regulations. It is evident that Beijing is making efforts to boost the growth of the world’s
The Financial Conduct Authority (FCA) in Britain recently announced guidelines for financial services companies and social media influencers regarding the creation of memes related to cryptocurrencies and other investments. This move by the FCA aims to combat the increasing number of scams in the financial sector. The FCA stressed the importance of ensuring that marketing
The USDJPY pair is once again trading higher, challenging the high set on October 21, 2022. Recent events have injected bullish momentum into the market as intervention risks loom. With the pair comfortably above the 150 mark, the potential for intervention from Japanese authorities is increasing. In terms of momentum indicators, the Average Directional Movement
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 finance ministry of Brazil recently put forth a proposal aimed at alleviating the burden of states’ debt to the federal government. This proposal is contingent upon states allocating resources towards technical high school education. The move comes in response to pleas from various governors who argue that the current high interest rates on debt
The cocoa market has been experiencing a significant surge in prices, with futures for May delivery hitting a record high of $10,030 per metric ton. This marks the first time that cocoa prices have surpassed the $10,000 mark, representing a substantial 3.9% increase. The surge in cocoa prices can be attributed to a variety of
The recent decision by the Central Bank of Nigeria to raise its key interest rate by 200 basis points has sparked discussions about its potential impact on the country’s economy. Governor Olayemi Cardoso cited the need to continue tightening monetary policy in order to combat runaway inflation as the primary reason for the rate hike.
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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