Yomiuri (Japanese medi) with the report that Japan’s top business lobby, Keidanren, will discuss the potential negative impact of the yen’s weakness on the economy at its meeting next month, on December 4. Keidanren is comprised of major companies including big automakers and electronics firms. These have, in the past, favoured a weak yen and
Share: USD/CAD seems biased to move downward despite the weakening in Crude oil prices. WTI prices lose ground on an unexpected delay in an upcoming OPEC+ meeting. US economic data turn investors to perceive persistent inflation in the country. USD/CAD seems to extend its losses for the third consecutive session, trading slightly lower
Share: NZD/USD weakens as RBNZ’s inflation report suggests an economic slowdown. Kiwi’s Business Services Index fell from the previous reading of 50.7 to 48.9. Downbeat Chinese inflation could impact the Kiwi Dollar. US-China Presidential meeting is scheduled for Wednesday during the Asia-Pacific Economic Cooperation summit in San Francisco. NZD/USD is caught in a
Share: Australian Dollar could continue its downward trajectory. Australia’s central bank adopted a dovish stance in their recent meeting. US Dollar seems lukewarm, despite the positive tone of US bond yields. The Australian Dollar (AUD) aims to continue a week-long slump while the US Dollar (USD) keeps weakening on Monday despite higher US Treasury
Fitch and S&P have already downgraded the US and now Moody’s has taken a step in that direction. The credit ratings agency maintained the USA’s top Aaa rating but changed its outlook to ‘negative’. Downside risks to the US’ fiscal strengths have increased and may no longer be fully offset by the sovereign unique credit
USD/JPY News and Analysis Recommended by Richard Snow Get Your Free JPY Forecast Raised BoJ Inflation Forecasts and Yield Curve Tweaks Lay Groundwork for Policy Pivot Minutes from the BoJ’s October meeting acknowledged that current conditions are making progress towards sustainably achieving the 2% inflation target. The updated October forecast raised the level of inflation
The EURUSD buyers tried to tilt the technical bias to the upside today with a move above its 200-hour moving average at 1.0580 and it’s 100-hour moving average 1.0589. The price also moved above the 50% midpoint of the move up from the October 13 low at 1.0594. However, momentum above the levels could not
The broader stock indices are trading lower. The S&P index is now down -0.19% while the NASDAQ index is down -0.68%. The Dow industrial average is holding onto a modest 0.16% rise. With the clock ticking toward the close of the trading week, the major indices are holding onto gains: Dow industrial average is up
Nasdaq Comp We’ve seen this script before. Treasury yields came off the lows and slowly the gains in equities faded. The FX market might have been the tell earlier as money started to move into US dollars, something I alluded to. I just don’t know how you could have a lot of confidence in that
The AUDUSD technical story remains largely the same. The pay remains within its up-and-down trading range (see red box on the chart below) with a short-term negative bias. The negative technical bias comes because the price is below the 100 and 200 bar moving averages on the 4-hour chart between 0.6423 and 0.6436. Staying below
