Focus on the Movement of USD/JPY, Targeting 150 Yen?
This week has seen a mix of dollar strength and yen weakness. Dollar strength was underpinned by the surprising strength in the US employment data at the end of last week, coupled with Federal Reserve Chairman Powell’s denial of the possibility of a rate cut in March. However, the rapid pace of dollar appreciation has […]
In the midst of confusion in the dollar market, yen selling may once again take the spotlight.
Today, yen selling gained momentum following comments from BOJ Deputy Governor Uchida. His remarks, indicating skepticism toward a path of raising interest rates rapidly even if negative rates are lifted, were well received, leading to a sharp rise in the Nikkei average and pushing the USD/JPY pair from around 148 to the 148.60 range. Market […]
Dollar buying paused, but corrections shallow; currently observing the situation
The dollar is experiencing a slight downward trend at the moment. Despite strengthening due to last weekend’s US employment statistics, Powell’s remarks at the beginning of the week, and the ISM index, yesterday saw a corrective selling pressure on the dollar. Today, that movement has somewhat subsided, and we are currently observing the situation. The […]
Today appears to be a pivotal day for the resumption of the dollar’s uptrend, although there may also be some dollar selling in the short term
Various factors have emerged in favor of a stronger dollar, such as unexpectedly strong U.S. employment data from last week, Fed Chair Powell’s denial of market expectations for a rate cut in March, better-than-expected ISM data, and the OECD’s interim world economic outlook highlighting the strength of the U.S. economy. Amidst these developments, the Australian […]
US Dollar Sees Buying Pressure Following Strong NFP and Powell’s Comments Delay Rate Cut Speculation
At the start of the week, the US dollar faced buying pressure. The unexpectedly strong results of the US Non-Farm Payrolls (NFP) report from the previous week boosted the dollar’s strength. Additionally, Federal Reserve Chairman Powell’s interview on CBS’s “60 Minutes” further impacted the market. Powell reiterated that he doesn’t see a high likelihood of […]
Will the US Dollar Market React to the US Employment Statistics?
Today, all eyes are on the release of the US employment statistics for January. Another key topic this week has been the US Federal Reserve (FOMC). Initially, the market reacted with a USD buying bias following Chairman Powell’s statement during the press conference that he did not consider a high probability of a rate cut […]
Renewed Concerns about US Regional Banks – NYCB Stock Drops 11%, Sparking Concerns in Real Estate
Yesterday, the highly anticipated results of the US Federal Reserve (FOMC) meeting and Chairman Powell’s press conference were released. The decision to keep interest rates unchanged was largely in line with market consensus, and all eyes were on Chairman Powell’s tone and comments. His strong denial of the market’s growing expectation of a rate cut […]
After the FOMC, What’s Next for the BOE – Any Changes in Inflation Outlook?
Yesterday, the highly anticipated FOMC meeting and Powell’s press conference took place. While the decision to keep rates unchanged was in line with market consensus, all eyes were on Chairman Powell’s hawkishness. His clear denial of any expectations for a March rate cut led to a surge in the dollar. However, the dollar initially saw […]
Amid anticipation of the upcoming US FOMC meeting and Chairman Powell’s press conference, today’s market is expected to be sluggish
Amid anticipation of the upcoming US FOMC meeting and Chairman Powell’s press conference, today’s market is expected to be sluggish. However, several employment-related indicators are scheduled for release, including the US ADP Employment Change (January) and the US Employment Cost Index (4th Quarter 2023). Additionally, the US Chicago Purchasing Managers’ Index (PMI) (January) and the […]
Will Calm Movements Continue?
This week, there are several important events and data releases scheduled, including the Federal Open Market Committee (FOMC) on tomorrow and the day after, the Bank of England Monetary Policy Committee (MPC) on Thursday, JOLTS Job Openings data on the 30th, ISM Manufacturing PMI on the 1st, and US employment statistics on the 2nd. Given […]