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The yen has stabilized after massive losses last week. In the North American session, the USD/JPY is trading at 148.03 at the time of writing, up 0.45%. Ishiba’s U-turn sends yen reeling The yen is coming off a spectacularly bad week with a 4.5% decline. This marked the yen’s worst week since 2020, during the […]

The post USD/JPY Soars as Rate Hike Hopes Chilled appeared first on Action Forex.

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04/01/2024

New Vigor on Bond Market Curtailed Dollar’s Momentum

Markets The US eco calendar provided first meaningful input for 2024 trading yesterday. Data strengthened the goldilocks scenario of growth stabilizing at a low, but no recessionary, level in combination with a labour market turning less tight and an ongoing disinflationary process. The manufacturing ISM recovered marginally more than expected (47.4 from 46.7), but remains […]
08/11/2024

Cliff Notes: An Event-Filled Week

Key insights from the week that was. Domestically, the main event was the RBA’s November policy meeting, where the Board decided once again to leave the cash rate unchanged at 4.35%. Communications on the day – via the decision statement, press conference, and Statement on Monetary Policy – provided more colour around changes to the […]
12/01/2024

USD/JPY Regains Strength, US CPI Increased 3.4%

Key Highlights USD/JPY started a fresh increase above the 145.00 resistance. A key bullish trend line is forming with support at 145.35 on the 4-hour chart Gold prices failed to clear the $2,050 resistance and declined again. The US CPI increased 3.4% in Dec 2023 (YoY), whereas the market forecast was 3.2%. USD/JPY Technical Analysis […]