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Archives by Year:
Italian Business Confidence Softens In June But Consumers Are More Upbeat
Image Source: Pexels The decline in business sentiment is widespread but might reflect temporary factors in services. Consumers, instead, are increasingly upbeat. The complete picture still looks consistent with a deceleration of GDP growth in the second quarter. Manufacturers remain downbeat, burdened by worsening ordersAs is often the case, the June batch of confidence data is a […]
Japanese Market Commentary – Thursday, June 27
USDJPY Breaks Fresh HighsThe US Dollar continues to push higher as traders await key inflation data tomorrow. Yesterday, USDJPY broke out to its highest level since 1986, moving above the level at which we last saw Japanese authorities intervene to send JPY higher. Japanese authorities continue to reaffirm their message on rates saying they will […]
The USD Consolidates While Sustaining Break Against The Yen
The dollar is sporting a softer profile today against all the G10 currencies but the Swedish krona. The Riksbank sounded more dovish than previously, signaling the possibility of a cut in each of the last three meetings of the year. The dollar has sustained its push above JPY160 against the Japanese yen. Most emerging market currencies […]
USDJPY Hits New Highs, But New Resistance May Not Be Far Away
Image Source: Pixabay This year, the JPY hits new lows across the board even though BOJ decided to end its ultra-loose policy, by raising rates for 10bp in March. But what’s also technically important is that USDJPY broke higher, into a fifth wave of a higher degree wave III that is now at 1990 resistance. From […]
Thoughts For Thursday: Debate Wait
The market eked out some small gains on Wednesday. Thursday, which is debate night, may prove to be an intermittent wait day till the Personal Consumption Expenditures (PCE) inflation data is reported on Friday. depositphotos Wednesday the S&P 500 closed at 5,478, up 9 points, the Dow closed at 29,128, up 16 points and the Nasdaq Composite […]
Yen Under Pressure As USD/JPY Hits New Highs Since 1986
Image Source: Pixabay The USD/JPY pair soared to 160.34 on Thursday, reaching levels not seen since 1986, as market participants increasingly anticipate potential interventions from Japanese authorities. Despite repeated verbal assurances, the Japanese government has not taken concrete financial measures, leaving the yen vulnerable.Finance Minister Shunichi Suzuki reiterated that the government stands ready to counteract sudden […]
Silver Prices Fell To A 6-Week Low
Image Source: Pixabay On Wednesday, the US stock indices ended trading in a mixed direction. At the end of the day, the Dow Jones Index (US30) rose by 0.04%, and the S&P 500 Index (US500) added 0.16%. The Nasdaq Technology Index (US100) closed positive 0.49%. Stock gains on Wednesday were capped by a rise in bond yields after hawkish comments from Fed spokesman […]
Bitcoin Tax Payments Proposed In New Bill By Rep. Matt Gaetz – XRP To Follow Suit?
Congressman Matt Gaetz proposes a bill to allow federal income tax payments using Bitcoin, aiming to foster innovation and efficiency. The bill directs the Treasury to establish a framework for accepting Bitcoin and convert it to dollars immediately after transactions. Republican Congressman Matt Gaetz is introducing a bill that would allow American citizens to pay […]
You Won’t Believe What China’s Central Bank Is Doing
Image Source: Pixabay China’s top central banker confirmed last week the intention to radically change the operations of the People’s Bank of China. Some have speculated this equates to an imminent QE, but that has nothing to do with the reform. We’ve seen this before. The issue is the bank, not the central bank.Video Length: 00:20:24More […]
BTC/USD Forecast: Testing Support Below
Bitcoin has been all over the place during the trading session on Wednesday, as we are trying to determine whether or not the market did successfully support the $60,000 level. The $60,000 level of course is a large round psychologically significant figure and it’s an area that has been important multiple times in the past. […]
