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Markets The Japanese yen grabs most attention this morning. Dollar strength pushed USD/JPY last Friday above 159.50 following stronger-than-expected June PMI’s and the pair is still flirting with the 160 mark this morning (34-yr JPY low). This level prompted FX interventions to the tune of almost JPY 10tn by the Japanese Ministry of Finance at […]

The post Japanese Yen Grabs Most Attention This Morning appeared first on Action Forex.

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USD/JPY Analysis: Rate Rises Above 159.9 Yen per Dollar

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04/04/2024

Dollar Index: Remains at the Back Foot Ahead of Key US Data

The dollar index remains in red for the third straight day and extend pullback from new multi-week high (104.83). Fresh bears pressure pivotal supports at 103.84/80 (Fibo 38.2% of 102.26/104.83 / top of thick daily Ichimoku cloud), with more obstacles seen at 103.60/40 zone (converging 20/55/200DMA’s / 50% retracement). Firm break of these supports would […]
09/08/2024

Canada’s Job Market Softens Further in July

For the second straight month, Canadian employment was essentially unchanged (-2.8k), disappointing expectations for a modest 25k gain. Full-time positions rebounded (+62k), but were offset by sizeable part-time job losses (-64k). The unemployment rate also remained unchanged at 6.4%, as a slight decline in the labour force (-0.1% month-on-month (m/m)) offset job losses. The decline […]
22/12/2023

U.S. Consumer Spending Up but Inflation Down in November

Personal income grew 0.4% month-on-month (m/m) in November, an acceleration from October’s 0.3% gain and in line with market expectations. Accounting for inflation and taxes, real personal disposable income rose 0.4% m/m, up from 0.3% previously. Personal consumption expenditures rose 0.2% m/m, an acceleration from the downwardly revised 0.1% gain recorded in October, but in […]