Powell’s Congressional Testimony Awaited, Market Lacks Catalysts
Today’s key event is Federal Reserve Chair Powell’s semi-annual monetary policy report testimony before the Senate Banking Committee, scheduled. Typically, the advance text is released a few hours before, providing some insight into the content. However, given the upcoming U.S. presidential election, questions from senators may be politically motivated or aimed at voters, adding potential […]
+$127,371 Will the Yen Continue to Depreciate? Focus on U.S. CPI and Powell’s Speech!
Trade Performance from July 1 to July 5: Total +$127,371 It was a successful week for all trades except cryptocurrencies. Since the start of July, the FX market has been highly focused on the U.S. employment report and the USD/JPY movements. While the USD/JPY experienced significant fluctuations due to speculations of rate cuts driven by […]
XAU/USD Strong Buy – Featured Currency and Technical Analysis (15-Minute Chart) July 5, 2024
EUR/USD Sell EUR/USD is trading around 1.0820, reaching new highs since June 12. Market activity remains subdued as the U.S. market was closed yesterday for Independence Day. The June U.S. employment report, to be released today at 14:30 (GMT+2), is expected to show a decrease in non-farm payrolls from 272,000 to 190,000, with average hourly […]
All Eyes on U.S. Employment Report: How Strong is Job Growth?
Today, the June U.S. employment report will be released. As a major event heading into the weekend, it has garnered significant market attention. The focus will be on the growth in non-farm payrolls, with the market consensus forecast expecting an increase of 190,000. Job growth has consistently exceeded expectations this year, except for April. The […]
U.S. Markets Closed for Independence Day, All Eyes on Tomorrow’s Employment Report
Today, the U.S. markets are closed for Independence Day. The recent sentiment has shifted towards expecting two rate cuts this year, following the weak ISM Non-Manufacturing PMI yesterday. However, this is still data-dependent, and attention is now focused on tomorrow’s U.S. employment report. With fewer events today, the UK general election takes center stage. […]
Continued Yen Depreciation, Steady Pace Makes Intervention Timing Difficult to Gauge
This week has seen a continued depreciation of the yen. USD/JPY has risen to around 161.90, marking new 37.5-year highs. However, the price movements have been relatively small, and the intraday volatility has not been drastic. Today, cross-yen pairs are also showing strong performance. EUR/JPY is moving towards 174 from the high 173 range. GBP/JPY […]
USD/JPY Hits New 37.5-Year High for Consecutive Days, Driven by Japan-U.S. Interest Rate Differential and Trump
USD/JPY has risen to the high end of the 161 yen range, setting new 37.5-year highs for consecutive days. The main driving force behind this surge is the Japan-U.S. interest rate differential. The political instability in France calmed at the beginning of the week, causing market participants to focus on carry trades based on the […]
USD/JPY Strong Buy – Featured Currency and Technical Analysis (15-Minute Chart) July 2, 2024
**EUR/USD Strong Sell** EUR/USD is attempting a breakdown at 1.0730. Market participants are awaiting new drivers for movement. Today at 11:00 (GMT+2), the Eurozone’s June inflation statistics will be released, with the core Consumer Price Index (CPI) expected to adjust from 2.9% to 2.8% and the broad CPI from 2.6% to 2.5%. German inflation […]
Yen Depreciates as France’s First Election Round Concludes
At the start of the week, the yen continues to depreciate, driven by buying of European currencies like the euro. EUR/JPY has risen to the 173 yen range, and GBP/JPY has climbed to 204 yen. The first round of France’s National Assembly elections saw the far-right party become the largest, followed by left-wing and ruling […]
Following the US PCE Deflator, the French Election this Weekend: Plenty to Watch Next Week
This week, the USD/JPY exchange rate has risen from around 159 yen to the 161 yen level. Although the price range itself is only slightly over 2 yen, clearing the psychological level of 160 yen, which was the previous intervention point, has impacted the market. Cross-yen pairs have also shown an upward trend, with EUR/JPY […]