The USD/JPY pair is currently aiming for an upside break above the 156.40 resistance level. The US Dollar has maintained a strong position above the 154.50 level against the Japanese Yen, forming a solid base for a potential increase. The pair managed to surpass key resistance levels at 155.80 and 156.00, signaling a bullish momentum.
The dollar has been hovering close to an eight-week low, awaiting the release of a crucial U.S. jobs report. This report is expected to provide insights into the Federal Reserve’s decision on interest rate cuts. The U.S. dollar index, which measures the currency against major rivals, has been relatively stable but is close to breaking
Bank of Japan Deputy Governor Ryozo Himino raised concerns regarding the impact of exchange-rate fluctuations on economic activity and inflation. The comments from Deputy Governor Himino and board member Nakamura show a difference in focal points within the BoJ, which could lead to conflicting strategies in the future. Investor attention will be focused on the
The US dollar index is currently hovering near an important support trendline, making traders wary of the next move. While there is a possibility of a new bullish phase, the technical signals are uncertain at the moment. The stochastic oscillator is flirting with the oversold territory, the RSI is struggling to break above the neutral
The price of gold has risen to 2368 USD per troy ounce, marking a second consecutive session of upward movement. This surge is driven by the market adjusting its expectations to the potential for future interest rate cuts by the Federal Reserve. Recent employment data, particularly from ADP, has shown that the increase in private-sector
The euro strengthened slightly on Thursday in anticipation of the European Central Bank’s policy decision. Traders are expecting a rate cut to be almost certain during this meeting. The euro was up 0.07% to $1.0876 as traders eagerly awaited guidance on the bank’s future rate outlook. While policymakers have hinted at lowering borrowing costs, the
The recent appreciation of the Japanese Yen can be attributed to improved risk sentiment in the market. This shift in sentiment has been influenced by a variety of economic data points and central bank statements that have impacted the currency’s value. Notably, Japan’s 10-year bond yield falling below 1% for the first time in two
A new national stock exchange is in the works in Texas, with investors such as BlackRock and Citadel Securities showing their support. The group behind the venture, led by TXSE Chairman and CEO James Lee, has already raised $120 million with the backing of over two dozen investors. The decision to launch the Texas Stock
The EUR/USD pair experienced a slight uptick near 1.0875 in the early Asian trading session on Thursday amidst speculation surrounding the European Central Bank (ECB) interest rate decision. The ECB is expected to announce its first rate cut in five years, with a projected reduction of 25 basis points. This decision would bring the main
In recent times, there has been an unexpected spike in initial jobless claims that has caught the attention of investors. This surge has the potential to influence betting on a Fed rate cut in September. The ripple effect of weaker labor market conditions can be felt in various aspects of the economy, such as wage
The EUR/USD pair has attracted fresh buyers due to a modest downtick in the US Dollar. The expectations of an interest rate cut by the Federal Reserve later this year have kept the US bond yields depressed, thereby weakening the dollar. This scenario has supported the Euro and led to an increase in the EUR/USD
The GBPAUD 1-hour Elliott Wave Charts have shown interesting patterns in the past, providing traders with trading opportunities. An analysis of the charts reveals a corrective sequence in the rally from the 09 May 2024 low, which presented a chance for traders to enter the market. The pullback reached the equal legs area, indicating a