Yen strengthens despite unchanged BOJ monetary policy
USDJPY fell on Tuesday after BoJ kept ultra-low rates unchanged, as yen strengthened on growing hopes that the central bank will start tightening policy soon.
Fresh dip comes after a triple daily Doji candle, which signaled strong…
Read More...
Read More...
Bank of Japan keeps its ultra-low policy unchanged
The Bank of Japan decided to keep its ultra-easy monetary policy unchanged at the end of its two-day policy meeting. This includes maintaining a short-term rate target of -0.1% and a 10-year bond yield target around 0%. The central bank has…
Read More...
Read More...
Cable keeps traction on bullishly aligned technical studies
Cable keeps firm tone for the fourth straight day and rises to one-week high on Monday, moving into the upper part of a multi-week range.
Despite holding in prolonged sideways mode, cable’s near-term picture remains bullishly aligned as…
Read More...
Read More...
Bitcoin – key supports at 40000 zone under increased pressure
Bitcoin lost ground on Monday and fell over 3%, reversing the most of a mild recovery in past three days.
Fresh weakness increases pressure on critical 40000 zone (short-term range floor / daily cloud base), loss of which would generate…
Read More...
Read More...
China keeps benchmark lending rates unchanged
China kept its benchmark lending rates unchanged at the monthly fixing, in line with expectations.
The one-year loan prime rate was maintained at 3.45%, reflecting limited scope for monetary easing in the current economic environment.…
Read More...
Read More...
EURUSD – slight bullish bias above key supports
EURUSD remains constructive above important Fibo support at 1.0875 (38.2% of 1.0448/1.1139 rally) after few probes below were contained by 200DMA (1.0844) and a triple failure to register daily close below 1.0875.
However, slight…
Read More...
Read More...
Unexpected sharp drop in UK retail sales further boosts risk of recession
UK retail sales retail sales fell by 3.2% in December, well below forecast for 0.5% drop and against 1.4% increase in November.
This was the biggest drop since January 2021 pushing the sales to the lowest since May 2020.Annualized retail…
Read More...
Read More...
Gold – bears likely to consolidate before fresh attack at psychological $2000 support
Gold price edged higher from five-week low after 2.4% drop in past two days found firm ground just above psychological $2000 level, now acting as solid support.
Yellow metal was deflated by hawkish comments from the US policymakers and…
Read More...
Read More...
Solid US retail sales add to signals that the economy keeps momentum at the start of the year into…
US retail sales rose more than expected in December, boosted by an increase in motor vehicle and online purchases, keeping the economy on solid ground heading into the new year.
Retail sales rose 0.6% last month after an unrevised 0.3%…
Read More...
Read More...
USDJPY – bulls may pause for consolidation
The dollar keeps strong bullish stance against yen and extends the latest strong rally into third straight day, advancing more than 2% since Monday.
Cooling expectations Fed’s early rate cut provided fresh tailwind to the greenback, as…
Read More...
Read More...