The GBPJPY pair has shown a strong uptrend during Monday’s session, reaching a high of approximately 202.50, which is the highest level seen since 2007. Despite initial efforts from sellers to push the pair down to 106.14, buyers managed to regain control and propel the pair to new cycle highs. The Daily Relative Strength Index
The Bank of England (BoE) is anticipated to start decreasing interest rates in August. The monetary policy statement released by policymakers indicates that the decision to maintain interest rates at 5.25% was seen as “finely balanced.” This has led to speculations that rate cuts are imminent, as investors interpret this as a signal that a
Moody’s credit-rating firm recently expressed that they would not take any negative rating action against Japan if the government fails to meet its primary budget-balancing target next fiscal year. According to Moody’s Japan sovereign analyst, Christian de Guzman, the target should be seen as a commitment to fiscal reform rather than a strict requirement that,
The recent weakness of the yen against the US dollar has raised concerns among Japanese officials, prompting warnings against the possibility of excessive volatility in the currency market. The Bank of Japan has intervened in the past to prevent the yen from strengthening beyond the psychological mark of 160 yen per USD, as it is
The stock futures for the upcoming week are displaying a mixed picture as the market edges closer to the end of June and the first half of 2024. Despite nearing record highs, there seems to be some uncertainty looming over key players. For instance, Nvidia, a prominent market heavyweight, experienced a significant 4% drop last
The recent spike in bond yields in France due to concerns over fiscal plans serves as a stark reminder of the power of bond vigilantes in monitoring government spending. This development has prompted many to shift their focus to the United States, where similar concerns are beginning to surface. The realization that the market will
The Indian Rupee started the new week on a positive note, despite the stronger US Dollar. The anticipation of continued policy reforms post the general elections, along with a sustained economic growth outlook and significant foreign inflows, supported the INR’s upward movement. Investors are keeping an eye on the US Chicago Fed National Activity Index,
Technical analysis plays a crucial role in forex trading, providing traders with valuable insights into market trends and potential price movements. In the case of EUR/USD, the pair recently failed to surpass the 1.0765 resistance level, leading to a subsequent decline in value. This failure to break resistance indicates a lack of bullish momentum and
Masato Kanda, Japan’s top currency diplomat, has the authority to direct the Bank of Japan (BoJ) to intervene in the forex market when necessary. He has mentioned that appropriate measures will be taken in the event of excessive forex movements, although he has not specified whether recent forex fluctuations fall into this category. Kanda has
As we enter the final trading week of the first half of the year in the Asian markets, there seems to be a mix of positive and negative indicators. While Asian equities are holding up reasonably well, currencies and bonds are showing a more mixed picture. However, the Chinese market seems to be struggling, with
In a recent television interview, Chancellor Olaf Scholz reiterated Germany’s commitment to its social agenda while also addressing the issue of military aid to Ukraine. Despite pressures from various political factions within the coalition government, Scholz remains determined to defend and further develop the welfare state. Budget Negotiations and Priorities The three-way coalition government is
Consumer inflation expectations play a crucial role in shaping the outlook of an economy. The prediction of a rise in consumer inflation expectations from 4.1% to 4.3% is likely to pose a challenge for the Reserve Bank of Australia (RBA). This increase may lead to heightened concerns about inflationary pressures, which could impact the RBA’s