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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 […]

The post USD/JPY Technical: Rising US Treasury-JGB Yield Spreads Outweigh BoJ’s Intervention Risk appeared first on Action Forex.

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17/06/2024

Nikkei Index Falls Below 38,000 Points This Month for First Time

According to today’s Nikkei 225 (Japan 225 on FXOpen) chart, the index quote dropped below 38,000 points at Monday’s low, followed by a recovery (shown by an arrow). One of the drivers of the decline was the automotive sector, whose shares led during the downturn. In particular, according to Reuters, Toyota Motors’ shares fell by […]
02/08/2024

US: Job Market Continued to Cool in July, Markets Up Ante on Rate Cuts

Non-farm employment rose by 114k in July, considerably below the consensus forecast calling for a larger gain of 175k. Job gains in the two prior months were revised a bit lower, subtracting a combined 29k from the previously reported figures. Private payrolls rose 97k, with most of the gains concentrated in health care & social […]
26/07/2024

Sunset Market Commentary

Markets Markets finally took a breather this morning after recent sharp risk-off repositioning especially in equities and interest rates. However, it doesn’t feel as if a sharp, sustained countermove is already in store. Initial ‘gains’ in yields, gradually evaporated. Equities are rebounding about 0.75% (Eurostoxx50 & S&P500) but one has the feeling that some kind […]