Dollar Weakening After Yesterday’s US CPI: Focus on Today’s US Indicators for Confirmation
Market Commentary: Following yesterday’s US CPI release, the USD is trending lower. Despite significant volatility immediately after the CPI announcement, which resulted in the closing of many USD short positions, the current trend favors USD weakness. Presently, the only open position is a long on BTC/USD. Market Update: USD/JPY: Fell from the 156-yen range to […]
Today’s Focus: US PPI and Powell’s Speech, Potential for Further USD/JPY Rise
Today, attention is focused on materials from the United States. While the US Consumer Price Index (CPI) to be released tomorrow is the most anticipated economic statistic, the US Producer Price Index (PPI) will be released today as a prelude. The market expects the year-on-year PPI to rise slightly to +2.2% from the previous +2.1%. […]
The Bank of Japan announced a reduction in the amount of government bond purchases
The Bank of Japan announced a reduction in the amount of government bond purchases at the start of the Tokyo market this week, leading to a temporary surge in the yen’s value. USD/JPY initially rose to around 155.96 in the morning but sharply declined to the 155.50 level after the announcement. However, it gradually rebounded […]
Dollar-yen is hovering near 156 yen, pausing for now, with today’s focus on the Michigan Consumer Sentiment Index.
The dollar-yen pair has paused its upward movement as it approaches 156 yen. While there was a reaction of dollar selling after last week’s weaker-than-expected US employment statistics, dollar buying dominated towards the weekend. Since the beginning of this week, there has been a continuation of dollar buying momentum fueled by hawkish comments from US […]
Yen Weakness and Dollar Strength Continue, Governor Ueda’s Acceleration Unaffected by Minister Suzuki’s Brakes
The USD/JPY has risen to the 155 yen range. After dropping to around 151.86 following last weekend’s U.S. employment statistics, the pair has been on an upward trajectory this week. Today, Governor Ueda of the Bank of Japan stated that “the current yen weakness has not significantly impacted the underlying inflation rate so far.” This […]
Dollar-yen’s upward momentum continues, with the next target being 155 yen.
The dollar-yen and cross-yen pairs are showing strong upward momentum. Following the weaker-than-expected US employment statistics last weekend, the dollar-yen temporarily fell to around 151.86 before ending the week near 153 yen. Yesterday, it rose to around 154 yen, and in today’s Tokyo market, it extended its high to the 154.60 range. Cross-yen pairs are […]
USD/JPY Rebounds to Around 154 Yen, Movements Watched for Possible Additional Intervention
As the week begins, the USD/JPY pair has rebounded to the vicinity of 154 yen. Last week, following two suspected covert interventions by the Japanese government and the Bank of Japan, the pair temporarily dropped to the late 151 yen range after disappointing U.S. employment data, but it recovered towards the close, ending the week […]
Focus on U.S. Employment Data and Subsequent Response by Japanese Financial Authorities
Today, Tokyo’s market is closed for Constitution Day. In Asian markets, following yesterday’s trend, the yen is strengthening. The USD/JPY pair has extended its decline into the 152 yen range, and other yen crosses are also falling. Yesterday’s data from the Bank of Japan suggested that a covert intervention of approximately 3.5 trillion yen was […]
The U.S. FOMC was not as hawkish as expected, leading to a weaker dollar. There were also movements reminiscent of intervention. Tomorrow, amidst thin trading ahead of the weekend, the U.S. employment statistics will be released.
Yesterday, the results of the highly anticipated U.S. FOMC meeting were announced. The policy interest rate was kept unchanged for the sixth consecutive time as expected. The statement added that there has been a lack of further progress towards the 2% target in recent months, which is somewhat hawkish. However, during Chairman Powell’s press conference, […]
Europe Observes Labor Day; Attention Turns to the U.S. FOMC
Today is May 1st, and many markets in European countries are closed for Labor Day (May Day). However, the London market is open, ensuring some liquidity. In London, the only significant event is the release of the final UK Manufacturing PMI (Purchasing Managers’ Index) for April. As we move into New York trading hours, […]