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In focus today In Norway, we expect core inflation to remain unchanged at 2.7% y/y in November, a tad lower than consensus at 2.8%. If we are proven right, this will once again be below Norges Bank’s forecast from the latest MPR at 3.0%, and in isolation contribute to a downward revision of the rate […]

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Japanese Yen Weakens as USD/JPY Climbs Amid BoJ Rate Hike Uncertainty

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11/04/2024

USD/JPY Technical: Rising US Treasury-JGB Yield Spreads Outweigh BoJ’s Intervention Risk

A firmer March’s US CPI has altered the relative fundamentals narrative between the US & Japan. Reduces the risk of FX intervention from Japanese authorities to prop up a weaker JPY due to the lack of supporting fundamentals. The bullish reversal seen in the 10-year yield spread of the US Treasury over JGB may act […]
25/01/2024

USDCAD: Key Levels to Consider for Further Upside or Deeper Correction

Bullish Scenario: Consider buying at levels 1.3428 or 1.3462 with take profit targets at 1.3990 (TP1), 135.00 (TP2), and 1.3510 in extension (TP3). It is recommended to set a stop loss (S.L.) below 1.3410 or at least 1% of the account capital**. Bearish Scenario: Selling below 1.3460 (waiting for a retracement to the zone) with […]
09/07/2024

EURJPY Moves Beneath Its Lifetime High of 174.60

EURJPY struggles to jump above its recent high Momentum oscillators look overstretched EURJPY skyrocketed to a fresh multi-year high of 174.60 in the previous week but is currently hovering slightly below this level, with the technical oscillators suggesting an overstretched market. The RSI is trying to cross the 70 level to the downside, while the MACD […]