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In the upcoming week, it will be worth monitoring the following three instruments: Bitcoin, USDJPY, and US100. We selected them due to incoming macroeconomic data and their current technical levels. Each is now at a critical point: Bitcoin is fighting to maintain its trend in conditions of low liquidity, USDJPY is reacting to Japan’s largest fiscal […]
UK Budget preview: Can the Chancellor deliver growth while raising taxes? On Wednesday 26th November, the UK Chancellor will deliver her second full budget. This feels like a major political event, with economics on the side. It could determine whether Kier Starmer remains as Prime Minister, as well as attempting to balance the UK’s precarious books. […]
The USD/JPY exchange rate is currently around 156.7. Today’s trading is influenced by a complex mix of fundamental factors, where a strong dollar competes with potential interventions from Japan. The difference in monetary policy between the US and Japan still favors the dollar, but the risk of actions by the BOJ and the Japanese government […]
The USD/CAD pair drifts lower during the Asian session on Friday and now seems to have snapped a two-day winning streak to a nearly two-week high, levels just above the 1.4100 mark, touched the previous day. Spot prices, however, bearish conviction and remain on track to register strong weekly gains amid the underlying bullish sentiment […]
EUR/USD edges higher after a flat previous day, trading around 1.1540 during the Asian hours on Friday. Traders await preliminary HOCB Purchasing Managers Index (PMI) data for November from Germany and the Eurozone due later in the day. Focus will be shifted toward the US S&P Global PMI data later in the North American session. The EUR/USD […]
The EUR/JPY cross declines to around 181.40 during the early European session on Friday. The Japanese Yen (JPY) strengthens against the Euro (EUR) in the wake of Japan’s Cabinet approving the 21.3 trillion yen economic stimulus package. Traders await the preliminary reading of HCOB Purchasing Managers Index (PMI) reports from the Eurozone, Germany, and France for fresh impetus. […]
The Australian Dollar (AUD) advances against the US Dollar (USD) on Friday after two days of losses. The AUD/USD pair gains ground following the preliminary reading of Australia’s S&P Global Purchasing Managers Index (PMI). S&P Global Manufacturing PMI came in at 51.6 in November versus 49.7 prior. Meanwhile, Services PMI rose to 52.7 in November from the […]
The Indian Rupee (INR) opens calmly against its major peers on Friday ahead of India’s preliminary HSBC Purchasing Managers’ Index (PMI) data for November, which will be published at 05:00 GMT (10:30 IST). Investors will pay close attention to India’s private sector PMI figures to get cues about the impact of Goods and Services Tax […]
The Japanese Yen (JPY) sticks to modest intraday recovery gains against its American counterpart through the Asian session on Friday, though any meaningful appreciation seems elusive. Comments from Japan’s Finance Minister Satsuki Katayama fueled speculations that authorities would step in to stem further JPY weakness. Apart from this, a generally weaker tone around the equity […]