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BoJ keeps policy ultra-loose, does not hint at change Friday’s data may reveal slowdown in inflation Wage negotiations key for exiting negative rates Next week’s Summary of Opinions also in focus Yen traders turn attention to national CPI numbers On Tuesday, the Bank of Japan decided unanimously to keep interest rates untouched at -0.1% and […]

The post After BoJ Decision, Yen Traders Turn to CPIs and Summary of Opinions appeared first on Action Forex.

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WTI Crude Oil Hovers Near the Upper Boundary of the Channel

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27/05/2024

Dollar Index outlook: Stands at the Back Foot Ahead of Key Economic Releases This Week

The dollar moved within a narrow range in Asian / early European session on Monday, but near-term picture remains bearishly aligned, weighed by Friday’s 0.3% drop and formation of bearish engulfing pattern on daily chart. Rising negative momentum adds to downside risk, though close within daily cloud (top lays at 104.65) and firm break of […]
04/09/2024

Data Releases in Line or Below Market Expectations Likely to Trigger the Largest Moves

Markets US equities went into a tailspin yesterday. The tech-heavy Nasdaq underperformed, racking up losses of 3.26%. Europe’s EuroStoxx50 (-1.22%) painted the perfect bearish engulfer. Volatility spiked with the Vix index jumping to the highest level since the early August market tremors. Stock markets staged an impressive comeback since that meltdown with some indices on […]
02/02/2024

GBPJPY Ticks Up in BoE Aftermath

GBPJPY pauses its slide from a fresh 8½-year high Broader long-term uptrend remains in place RSI and MACD soften but remain positive GBPJPY has been in a prolonged uptrend since early 2023, posting a fresh 8½-year high of 188.91 on January 19 before experiencing a setback. However, in the past couple of sessions, the pair managed to halt its […]