The Japanese yen continues to lose ground, breaking through the 150-mark against the US dollar on Thursday, the highest level since 1990. The Japanese economy has been suffering as the yen has weakened significantly, prompting an emergency Bank of Japan meeting. The last time when the Yen breached the 160-mark was way back in 1986. In recent weeks, the Bank… Read More »The Japanese yen has reached 150 against the US dollar, its lowest level since August 1990.
As the Bank of Japan vowed to maintain ultra-easy monetary policy despite clear indications that other major central banks will tighten further to combat surging inflation, the Japanese yen depreciated past 147 per dollar. Briefly, it breached the 147.64 level, bringing it to its lowest level since August 1990. BOJ Governor Haruhiko Kuroda emphasized the importance of assisting the economy’s… Read More »The Japanese yen is hovering near a Thirty year low.
Sterling rose in volatile trade on Thursday, as investors awaited the Bank of England’s impending deadline to end an emergency bond-buying programme. A fragile yen hovered near a new 24-year low, while markets were also on edge ahead of US inflation data due later in the day for possible hints on how far the Federal Reserve will raise interest rates.… Read More »Sterling is volatile ahead of the Bank of England’s deadline, and the yen is testing a 1998 low.
The USD/JPY is consolidating its recent surge to new 24-year highs near 146.40. Investors are trading with caution now that the pair has broken through the key 145.90 level, which was previously a trigger point for Japanese intervention. The US dollar extends its uptrend ahead of the Fed minutes. The USD/JPY pair struggles to capitalise on its modest intraday uptick… Read More »The USD/JPY is trading above 146.00 for the first time since 1998
The unemployment rate in the United Kingdom fell to 3.5% in the three months to August 2022, a new low since 1974 and lower than the previous period’s 3.6% and market forecasts of 3.6%. The rate of economic inactivity increased by 0.6 percentage point or 252K to 21.7%, the highest since records began in 1971, owing to people being sick… Read More »UK unemployment has reached levels not seen since 1974, but the pound is unfazed
Most investors will be keeping an eye on the second part of the week as the US prepares to release PPI, CPI, and Core Retail Sales data. This could result in a high level of volatility at the week’s finish, along with the FOMC meeting minutes. The PPI, CPI, and Core Retail Sales predictions point to continued expansion in the… Read More »Week ahead in Forex Markets (Oct 10 – 14), Main focus on FOMC, BOE Governor Bailey speaks
On Friday, the dollar index maintained its recent gains to rise above 112, supported by a steady stream of hawkish comments from Federal Reserve officials, as investors awaited the crucial monthly jobs report that may influence the central bank’s monetary policy decision in November. It is anticipated that the nonfarm payrolls report, which is due later in the day, will… Read More »Traders pay close attention to the Dollar’s reaction to the NFP data
The pound fell against the dollar on Wednesday, capping a six-day rally but remaining well off recent lows following the government’s U-turn on some tax cuts earlier this week. The pound fell 0.6% to $1.1404 (GBPUSD) and was little changed at 87.095 pence per euro (EURGBP). The pound has recovered some ground after falling to a record low of $1.0327… Read More »Sterling drops ahead of UK Prime Minister Truss’s speech.
After the RBNZ delivered a 50-basis-point rate hike, the New Zealand dollar surged against the US dollar and the Australian dollar
The Reserve Bank of New Zealand raises interest rates by 50 basis points, as expected. The New Zealand dollar has risen against the US dollar and the Australian dollar as a result of the hawkish hike. The RBNZ faces supply-side constraints that may necessitate additional jumbo hikes. The New Zealand Dollar gained some traction after the Reserve Bank of New… Read More »After the RBNZ delivered a 50-basis-point rate hike, the New Zealand dollar surged against the US dollar and the Australian dollar
Week ahead in Forex Markets (Oct 3 – 7), Main focus on RBA, RBNZ’s rate hikes and the US Non Farm payroll data
As we are entering the last quarter of the year, We have major news releases like RBA, RBNZ interest rate decision and the USD’s Non Farm Payroll Major Economic events RBA’s policy decision (Oct 3, 11:30 pm GMT)The RBA may increase rates by a another 50 basis points. Or, with a 25bps rate hike, will members let off the gas… Read More »Week ahead in Forex Markets (Oct 3 – 7), Main focus on RBA, RBNZ’s rate hikes and the US Non Farm payroll data
The expectation that the Federal Reserve will tighten monetary policy further in order to lower high inflation caused the dollar index to remain stable near 112 on Friday after falling from a 20-year high of 114.778 earlier this week. Despite this, the index was still on track to post another strong monthly gain. The index is trading roughly 7% higher… Read More »Dollar Expected to Post a Big Monthly Gain
USD – Fed announces another 0.75 percentage point increase in interest rates JPY – BOJ keeps ultra-low rates, dovish policy guidance CHF – The Swiss National Bank raises interest rates to 0.5% in order to cool the country’s raging inflation. GBP – Bank of England hiked interest rates for a seventh straight time for 50 bps
24-year low for the Japanese yen The Bank of Japan kept its benchmark rate for short-term borrowing at -0.1%. The decision was made shortly after the US announced a 75 basis point rate increase, its third consecutive increase. The prolonged conflict in Ukraine has raised commodity costs, which are projected to put negative pressure on the Japanese economy. Nevertheless, given… Read More »USDJPY rises to 24 year High of 144.98
Fed announces another 0.75 percentage point increase in interest rates and promises more increases in the future to combat inflation. Since the early 1980s, inflation has been rising and the central bank has been working to reduce it. Fed representatives indicated that they plan to keep raising rates until the funds level reaches a “terminal rate,” or endpoint, of 4.6%… Read More »FED Hikes Rates as Expected
The Federal Reserve is considering raising interest rates by 75 basis points during its September 2022 meeting, marking the third consecutive three-quarter point increase, increasing borrowing costs to the 3%-3.25% range, the highest since 2008. Some economists believe the Fed will raise interest rates even more. Simultaneously, the so-called dot plot is predicted to show that interest rates will likely… Read More »Fed expected to Hike Rates by 75bps for 3rd Time
The euro continued losses below the $1 parity level, holding near its lowest level since 2002 after Russian President Vladimir Putin declared a partial military mobilization in Russia, which the West views as an escalation. On the monetary policy front, all eyes are on the US Federal Reserve’s statement later today, with Fed policymakers expected to deliver a 75 basis… Read More »Euro at 20-Year Lows
Asian stock markets fell on Wednesday, mirroring Wall Street’s overnight losses, as investors awaited an interest rate hike and additional aggressive signals from the Federal Reserve. In anticipation of the hike, the US dollar climbed to nearly 20-year highs, while Treasury yields rose. The Chinese yuan has also dropped to a two-year low.
A Financial Market Tumbling based on Putin Speech – “Russia president Putin announces partial military mobilization” Putin’s Words put more pressure on the European region, Hedge Traders focus on USD and Gold partial buy for a safer investment. This Week’s FOMC Statement, and Fed Rate announcement followed by tomorrow’s news GBP & JPY Bank rate of interest might bring high… Read More »Market Wrap
In a “60 Minutes” interview with CBS that aired Sunday evening, President Biden proclaimed the COVID-19 outbreak “over.”“The pandemic is over,”Biden told CBS News’s, Scott Pelley. “COVID is still a concern for us.” We’re still working on it, but the pandemic has ended. “
The USD/CAD pair continues its strong breakthrough momentum from last week. The momentum pushedSpot prices rose above the 1.3300 barriers to their highest level since November 2020.