No big data release? No problem! Pullbacks from the previous week’s moves and positioning ahead of this week’s potential market movers got traders pushing the major assets all over the charts on Monday. Which headlines dominated market price action anyway? Let’s break them down: Headlines: Japan bank lending slowed from 3.2% y/y to 3.0% in August vs. 3.2% forecast…
South Korea has designated October 1 as ‘Armed Forces Day’, and a temporary holiday. The move is intended to boost domestic consumption, and troop morale. Korea Composite Stock Price Index (KOSPI) KOSDAQ ETF, derivatives markets and commodity markets will all be closed. This article was written by Eamonn Sheridan at www.forexlive.com.
USD/JPY ticks higher for the second straight day and draws support from a combination of factors. A downward revision of Japan’s GDP print and a positive risk tone undermines the safe-haven JPY. Reduced bets for a 50 bps Fed rate cut in September push the USD higher and further lend support. The USD/JPY pair turns positive for the second…
People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range,…
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The key change for the Board of the RBA was the proposal to split the existing RBA board into separate groups for interest rate-setting and governance. The board split was supposed to come into effect on July 1 Australian Treasurer Chalmers was driving the proposed changes but has said he wanted bipartisan support. The measure has failed to gain…
Mexican Peso strengthens as fears of judiciary reform approval fade despite Banxico’s dovish stance. Opposition from 43 senators reduces chances of judiciary reform approval, easing political concerns in Mexico. Banxico’s dovish stance justified by declining inflation, while Business Confidence slightly improves but remains below 50. The Mexican Peso staged a comeback against the Greenback on Monday. Fears that the…
2024.09.09 2024.09.09 US Dollar Recoups Losses. Forecast as of 09.09.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The release of US labor market data prompted investors to take wishful thinking for granted. The probability of a 50-basis-point reduction in the Fed interest rate in September increased to 50% but then declined to 31%. What is the reason behind this change of heart? Let us…
The U.K. could be in for slightly stronger labor market numbers for August! So, which data points should you keep an eye on, and how might the British pound respond to this week’s release? We’ve got all the details you need if you’re trading the report! This Article Is For Premium Members Only Become a Premium member…
USD/JPY daily Goldman Sachs expresses caution on holding tactical long positions in the Japanese yen (ie short USD/JPY) in the near term, despite its attractiveness as a hedge against a slowing US economy and potential recession risks. Key Points: Conclusion: Goldman Sachs remains cautious on tactical long positions in the Yen despite its role as a hedge against a…
