⚠️ At 13:30 GMT today, the US will release data on the state of its labor market. Forecasts suggest an increase of 180 thousand jobs last month, compared to 150 thousand in October.
📊 Last week, initial unemployment benefit applications in the US totaled 220 thousand, a slight increase from 219 thousand two weeks earlier.
📣 The Bank of Japan's head, Ueda, stated that the regulator is exploring options to normalize monetary policy and move away from negative interest rates. This led to a notable strengthening of the yen and a decline in the USD/JPY pair to 141.64.
🇯🇵 Japan's gross domestic product contracted by 0.7% in Q3, with an annual drop of 2.9%.
🇪🇺 The eurozone's gross domestic product saw a 0.1% decrease in Q3, while the annual economic performance remained stagnant. #EconomicIndicators #USDJPY #GDP #LaborMarket #FreshForex
📊 Last week, initial unemployment benefit applications in the US totaled 220 thousand, a slight increase from 219 thousand two weeks earlier.
📣 The Bank of Japan's head, Ueda, stated that the regulator is exploring options to normalize monetary policy and move away from negative interest rates. This led to a notable strengthening of the yen and a decline in the USD/JPY pair to 141.64.
🇯🇵 Japan's gross domestic product contracted by 0.7% in Q3, with an annual drop of 2.9%.
🇪🇺 The eurozone's gross domestic product saw a 0.1% decrease in Q3, while the annual economic performance remained stagnant. #EconomicIndicators #USDJPY #GDP #LaborMarket #FreshForex
USD/JPY Strengthens Amid Dollar Decline and Expectations of Monetary Policy Easing
📊 The USD/JPY pair consolidates above the 145.00 level in the early Asian session. Despite a decline in the US dollar, USD/JPY shows growth supported by the unexpected decrease in US Producer Price Index (PPI) and expectations of Fed interest rate cuts in 2024. The Bank of Japan is expected to maintain its ultra-loose policy, despite a reduced inflation forecast. Trading Recommendation: Primarily trade on Buy from current levels. #USDJPY #Forex #MonetaryPolicy
📊 The USD/JPY pair consolidates above the 145.00 level in the early Asian session. Despite a decline in the US dollar, USD/JPY shows growth supported by the unexpected decrease in US Producer Price Index (PPI) and expectations of Fed interest rate cuts in 2024. The Bank of Japan is expected to maintain its ultra-loose policy, despite a reduced inflation forecast. Trading Recommendation: Primarily trade on Buy from current levels. #USDJPY #Forex #MonetaryPolicy
#USDJPY #Forex #Finance #Japan
📈 Trading Session Overview:
The USD/JPY pair surpassed the 146.00 level due to the strengthening of the US dollar. Investors are awaiting the release of the New York Empire State Manufacturing Business Conditions Index, and PPI data in Japan indicates an increase in the Producer Price Index.
💼 Key Events of the Day:
Release of the New York Empire State Manufacturing Business Conditions Index.
Producer Price Index in Japan increased by 0.3%.
📈 Trading Recommendation:
Primarily trade on the buy side from the current price level.
📈 Trading Session Overview:
The USD/JPY pair surpassed the 146.00 level due to the strengthening of the US dollar. Investors are awaiting the release of the New York Empire State Manufacturing Business Conditions Index, and PPI data in Japan indicates an increase in the Producer Price Index.
💼 Key Events of the Day:
Release of the New York Empire State Manufacturing Business Conditions Index.
Producer Price Index in Japan increased by 0.3%.
📈 Trading Recommendation:
Primarily trade on the buy side from the current price level.
"Japanese Yen Under Pressure: USD/JPY Analysis"
The Japanese yen continues to weaken due to various factors, including the earthquake in Japan and weak wage data. The Bank of Japan is expected to postpone its plans to change its policy. This supports the rise of the USD/JPY pair to the 147.45 level, which has now become resistance. Strong statements from the Federal Reserve also impact the dollar. Trading recommendation: Predominantly buy from current levels, monitor the 147.45 level. #USDJPY #BankOfJapan #Fed #Forex
The Japanese yen continues to weaken due to various factors, including the earthquake in Japan and weak wage data. The Bank of Japan is expected to postpone its plans to change its policy. This supports the rise of the USD/JPY pair to the 147.45 level, which has now become resistance. Strong statements from the Federal Reserve also impact the dollar. Trading recommendation: Predominantly buy from current levels, monitor the 147.45 level. #USDJPY #BankOfJapan #Fed #Forex
"USD/JPY: Japanese Yen Under Pressure from Bank of Japan's Ultra-Dovish Policy"
The Japanese yen fluctuates in a narrow range during Thursday's Asian session, consolidating its recent losses against the US dollar since the beginning of the week. The powerful earthquake in Japan complicates the Bank of Japan's (BoJ) task of reversing negative interest rates next week. Additionally, a decline in inflation in Tokyo and weak wage data confirm market expectations that the Japanese central bank will stick to its ultra-dovish stance.
Strong US retail sales data reduce the chances of an imminent Federal Reserve (Fed) rate cut, supporting the dollar. However, market sentiments remain volatile due to further escalation in military actions in the Middle East and economic problems in China, favoring the relative safety of the yen and limiting the rise of the USD/JPY pair.
Trading recommendation: Primarily trade on buy (Buy) from current levels. Today's macroeconomic news may influence the USD/JPY dynamics.
#Forex #USDJPY #BoJ #Fed #MarketSentiments
The Japanese yen fluctuates in a narrow range during Thursday's Asian session, consolidating its recent losses against the US dollar since the beginning of the week. The powerful earthquake in Japan complicates the Bank of Japan's (BoJ) task of reversing negative interest rates next week. Additionally, a decline in inflation in Tokyo and weak wage data confirm market expectations that the Japanese central bank will stick to its ultra-dovish stance.
Strong US retail sales data reduce the chances of an imminent Federal Reserve (Fed) rate cut, supporting the dollar. However, market sentiments remain volatile due to further escalation in military actions in the Middle East and economic problems in China, favoring the relative safety of the yen and limiting the rise of the USD/JPY pair.
Trading recommendation: Primarily trade on buy (Buy) from current levels. Today's macroeconomic news may influence the USD/JPY dynamics.
#Forex #USDJPY #BoJ #Fed #MarketSentiments
Event to Watch Today: The key event to watch today is the release of the U.S. Gross Domestic Product (GDP) data for the fourth quarter on an annual basis. The data is scheduled to be published at 16:30 CET.
The GBPUSD pair continues its downtrend after retreating from the recent two-week high of 1.2774 on Wednesday. During the European session on Thursday, the GBP/USD pair is trading lower, near 1.2710.
The British Pound (GBP) initially gained support from positive Purchasing Managers' Index (PMI) data from the United Kingdom. However, this upward momentum couldn't be sustained after favorable PMI data was released from the United States.
Positive PMI data from S&P Global in the U.S. on Wednesday may reduce the likelihood of a Federal Reserve rate cut in March, leading to a decline in the GBPUSD pair.
Trading Recommendation: The trading recommendation leans towards sell orders.
#GBPUSD #FX #trading #Forex #ForexNews #ForexAnalysis #EURUSD #USDJPY #AUDUSD #XAUUSD #BTCUSD
The GBPUSD pair continues its downtrend after retreating from the recent two-week high of 1.2774 on Wednesday. During the European session on Thursday, the GBP/USD pair is trading lower, near 1.2710.
The British Pound (GBP) initially gained support from positive Purchasing Managers' Index (PMI) data from the United Kingdom. However, this upward momentum couldn't be sustained after favorable PMI data was released from the United States.
Positive PMI data from S&P Global in the U.S. on Wednesday may reduce the likelihood of a Federal Reserve rate cut in March, leading to a decline in the GBPUSD pair.
Trading Recommendation: The trading recommendation leans towards sell orders.
#GBPUSD #FX #trading #Forex #ForexNews #ForexAnalysis #EURUSD #USDJPY #AUDUSD #XAUUSD #BTCUSD
USDJPY: 148.00, Recovery Continues
The Japanese yen (JPY) is recovering its positive momentum on the Asian session on Wednesday, trading near its weekly high against its American counterpart, reached earlier this week.
The main factors supporting the yen are:
Concerns that the deepening conflict in the Middle East could trigger a wider war in the region.
Disappointing macroeconomic data from Japan.
The decline in U.S. Treasury yields.
The U.S. dollar (USD), on the other hand, remains in its usual range amid uncertainty over when the Federal Reserve (Fed) will begin cutting interest rates.
Trading recommendation: Consider buying at levels above 148.30.
#USDJPY #Fed #FedRateCut #dollar #yen #risk #geopoliticalRisks
The Japanese yen (JPY) is recovering its positive momentum on the Asian session on Wednesday, trading near its weekly high against its American counterpart, reached earlier this week.
The main factors supporting the yen are:
Concerns that the deepening conflict in the Middle East could trigger a wider war in the region.
Disappointing macroeconomic data from Japan.
The decline in U.S. Treasury yields.
The U.S. dollar (USD), on the other hand, remains in its usual range amid uncertainty over when the Federal Reserve (Fed) will begin cutting interest rates.
Trading recommendation: Consider buying at levels above 148.30.
#USDJPY #Fed #FedRateCut #dollar #yen #risk #geopoliticalRisks
USDJPY: Forecast for February 1, 2024
Event: 6:00 PM PST, USD - ISM Manufacturing PMI
Analysis:
Japanese yen (JPY) strengthening for the second day in a row.
US Federal Reserve dashed expectations for a March interest rate cut.
US dollar (USD) near 13-month high.
Recommendation:
Trade within the 146.00 - 147.70 range on bounces from support levels.
#USDJPY #Forex #Analysis #Forecast
Event: 6:00 PM PST, USD - ISM Manufacturing PMI
Analysis:
Japanese yen (JPY) strengthening for the second day in a row.
US Federal Reserve dashed expectations for a March interest rate cut.
US dollar (USD) near 13-month high.
Recommendation:
Trade within the 146.00 - 147.70 range on bounces from support levels.
#USDJPY #Forex #Analysis #Forecast
"Japanese Yen Under Pressure: Dynamics of USD/JPY and Global Factors' Influence"
The Japanese yen is experiencing sales pressure for the second consecutive day, reaching a new low for the year against the US Dollar. Despite the Bank of Japan's policy tightening, the recent bull market on global stock exchanges is considered a key factor undermining the yen's relative status as a safe currency.
Impressive employment data released on Friday in the US highlights the economy's good shape, allowing the Federal Reserve to maintain high-interest rates for a more extended period. It lifts the US Dollar (USD) to its highest level since December 11, providing additional support to the USD/JPY pair.
Traders are awaiting the release of the ISM Services PMI in the US, along with monitoring geopolitical tensions and China's economic problems. Risk sentiments may create trading opportunities for USD/JPY.
Trading Recommendation: It is recommended to place a buy order for USD/JPY from the current price level.
#Yen #Dollar #USDJPY #Trading #Economy #Fed
The Japanese yen is experiencing sales pressure for the second consecutive day, reaching a new low for the year against the US Dollar. Despite the Bank of Japan's policy tightening, the recent bull market on global stock exchanges is considered a key factor undermining the yen's relative status as a safe currency.
Impressive employment data released on Friday in the US highlights the economy's good shape, allowing the Federal Reserve to maintain high-interest rates for a more extended period. It lifts the US Dollar (USD) to its highest level since December 11, providing additional support to the USD/JPY pair.
Traders are awaiting the release of the ISM Services PMI in the US, along with monitoring geopolitical tensions and China's economic problems. Risk sentiments may create trading opportunities for USD/JPY.
Trading Recommendation: It is recommended to place a buy order for USD/JPY from the current price level.
#Yen #Dollar #USDJPY #Trading #Economy #Fed
USDJPY: Buy from current levels
The Japanese yen (JPY) is rising amid geopolitical risks and economic problems in China.
The hawkish stance of the Bank of Japan (BoJ), signaling confidence in achieving the inflation target, is supporting the JPY.
The decline in USDJPY seems to be mitigated by the bullish sentiment on USD.
Incoming macroeconomic data from the US indicates that the economy is in good shape.
#USDJPY #FOREX #ANALYSIS #FRESHFOREX
The Japanese yen (JPY) is rising amid geopolitical risks and economic problems in China.
The hawkish stance of the Bank of Japan (BoJ), signaling confidence in achieving the inflation target, is supporting the JPY.
The decline in USDJPY seems to be mitigated by the bullish sentiment on USD.
Incoming macroeconomic data from the US indicates that the economy is in good shape.
#USDJPY #FOREX #ANALYSIS #FRESHFOREX