US PCE deflator in June, etc.
The impact of the Bank of Japan’s monetary policy may have sustained effects as the market digests the outcomes of the FOMC, ECB, and BOJ monetary policies. The US personal consumption expenditure (PCE) deflator for June is expected to show a year-on-year increase of around 3.0%, which is a slowdown from the previous month’s 3.8% […]
Focus on the ECB Governing Council today, what is the timing between the FOMC and the Bank of Japan?
Today’s focus is on the ECB Governing Council meeting, and the market is closely watching its outcome. Regarding the policy interest rate, there is a consensus in the market for a 25 basis point rate hike. However, there is a slightly toned-down outlook for a rate hike in September. Even the hawkish members have […]
Waiting for US FOMC, no noticeable indicators in Europe
Today’s focus is on the outcome and statement of the FOMC meeting, as well as the press conference by Fed Chair Powell. The market is anticipating that the recent slowdown in the growth of US Consumer Price Index and Producer Price Index may halt further rate hikes in this FOMC meeting. However, it’s important to […]
There is a general correction in the overall dollar strength, and during London time, the Euro is showing a counter-trend weakness.
In general, there is a correction in the previous dollar strength. During London time, the Euro has been declining, showing a distinct weakness. This is in response to the German Ifo Business Climate Index for July, which declined more than expected. Following weak Eurozone PMI flash readings from the previous day, this latest data added […]
USDJPY fell to the 141.18 level at one point, and it was reported that the Bank of Japan would revise its price forecast for fiscal 2023 to around 2.5%.
The USD/JPY temporarily declined to around 141.18 levels in response to reports stating that the Bank of Japan is considering a significant upward revision of its 2023 price outlook to around 2.5%, compared to the previous projection of 1.8%. However, the outlook for 2024 and 2025 is expected to see only a slight revision to […]
+$95,486/week. Focus on FOMC, ECB, and BOJ monetary policies! FX Weekly Forecast July 24, 2023
US FOMC, ECB, Bank of Japan Monetary Policy Announcement next week
This week has seen a strengthening in USD, but the reasons behind its rally are questionable. There seems to be a correction in the market after a continuous 6-day USD decline until last week. Various factors are influencing the market sentiment. For USDJPY, BOJ Governor Kuroda’s reaffirmation of the easing stance cooled down the YCC […]
Pound struggling near lows, impact of slowing inflation growth remains
Pound struggling near lows, impact of slowing inflation growth remains Following the release of the UK’s June Consumer Price Index (CPI), which showed a significant decline from the previous month, the pound remains near its lows despite a temporary halt in the sharp decline. The year-on-year figure of +7.9% fell well below market expectations of […]
BOJ Governor Ueda Cools YCC Revision Speculation, Dollar-Yen Decline Lulls
Shutaro Ueda, the Governor of the Bank of Japan (BOJ), poured cold water on the speculation of Yield Curve Control (YCC) revision, and the decline in USD/JPY seems to have paused. In today’s Tokyo market, USD/JPY is trading in the 139 yen range. It has regained some ground after last week’s decline to the […]
Continued Dollar Weakness, U.S. Retail Sales and Industrial Production Today
The continuation of the weakening trend of the US dollar is expected. Today, the US retail sales and industrial production data will be released. Since July, there has been a strengthening of the selling pressure on the US dollar. The US employment statistics showed slower job growth than expected, leading to a decline in US […]