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BOJ’S UEDA: INCREASE RATES IF PRICE TREND RISES AS ANTICIPATED
Bank of Japan (BoJ) Governor Kazuo Ueda answered a parliamentary inquiry on Thursday. Ueda said that the Japanese central bank can adjust the degree of monetary accommodation by raising interest rates if trend inflation accelerates gradually, per Reuters. Key quotes “Low real ra
USD/JPY HOLDS POSITIVE GROUND ABOVE 155.50 FOLLOWING THE BOJ SUMMARY OF OPINIONS
USD/JPY gains ground near 155.60 amid a modest rebound of USD on Thursday. Many Japanese policymakers called for for steady interest rate to avoid the risks of inflation overshoot.Fed’s Collins emphasised the need to hold rates higher for longer to curb inflation, boosting the USD.&nb
BOJ’S SUMMARY OF OPINIONS: EASY MONETARY CONDITIONS ARE EXPECTED TO CONTINUE
Bank of Japan (BoJ) published the Summary of Opinions from its March monetary policy meeting on April 25 and 26, with the key findings noted below. Key quotes “One member said if trend inflation accelerates, BOJ will adjust degree of monetary easing but accommodative financial environment
WTI POSTS MODEST GAINS AROUND $79.00 ON US CRUDE STOCK DRAW
WTI price edges higher to $78.95 on Thursday. US crude stocks fell 1.4 million barrels last week, according to the EIA. The hopes of a ceasefire in Gaza have weighed on WTI prices in recent trading sessions. Western Texas Intermediate (WTI), the US crude oil&
JAPAN'S KANDA HAS NO COMMENTS ON FX INTERVENTION
Japan's top currency diplomat, Masato Kanda, who will instruct the BoJ to intervene, when he judges it necessary, said on Thursday that he will take appropriate action if it’s necessary. However, he declined to comment on foreign exchange (FX) interventio
GBP/USD HOLDS BELOW 1.2500 AHEAD OF BOE RATE DECISION
GBP/USD trades on a softer note near 1.2495 in Thursday’s early Asian session. Fed’s Collins emphasized the need to stay higher for longer, as it will take longer than previously thought to bring inflation down.The BoE is widely expected to keep its policy rate unchange
USD/JPY FLOATS HIGHER, TESTING 156.00 AFTER QUIET WEDNESDAY
USD/JPY found further gains as Yen recedes post-”Yentervention”.US consumer sentiment survey results due on Friday.BoJ remains tight-lipped on FX market interventions. USD/JPY drifted higher on Wednesday, marking in a third straight day of easy gains as the pair pares away recent losses from two sus
NEW ZEALAND FINANCE MINISTER WILLIS: THE ECONOMIC SITUATION IS CHALLENGING FOR GOVERNMENT
New Zealand's Finance Minister Nicola Willis gave speech notes ahead of Thursday's Pacific market session regarding New Zealand's latest budget notes. NZ Finance Minister Willis noted that New Zealand's economic situation continues to deteriorate, putting significant pressure on both New Zealan
EUR/JPY PRICE ANALYSIS: BULLS MAINTAIN THE REIGN AND STEP OVER THE BEARS
Indicators on the daily chart show a consistent rise in bullish momentum.On the hourly chart, the RSI reflects a more volatile picture with general positivity, yet the MACD shows a lack of sustained buying traction. The EUR/JPY pair continues to exhibit strong momentum, displaying gains of 0.55% on
AUD/JPY PRICE ANALYSIS: FACES RESISTANCE AT TENKAN-SEN, AS BUYERS EYE 103.00
AUD/JPY up 0.30%, showing bullish momentum for potential rise beyond 102.35.Bullish RSI indicates room for growth before hitting overbought conditions.Key levels: Resistance at Tenkan-Sen (102.42) and support at Kijun-Sen (101.36). The AUD/JPY extends its gains for the fifth day in a row, climbs 0.3
Technical analysis: Gold price stays bullish despite slumping below $2,320
Gold is upwardly biased despite registering modest losses. Momentum still favors buyers as the Relative Strength Index (RSI) remains in bullish territory. That would benefit Gold buyers who could “buy the dip.” XAU/USD buyers need to clear the April 26 high, the latest cycle high at $2,352, if
Technical analysis: Mexican Peso treads water as USD/MXN clings to 16.90
The USD/MXN downtrend remains in place, as stir resistance lies above the current exchange rate. Even though the Relative Strength Index (RSI) suggests that buyers are gathering momentum, they must clear key supply zones before the pair turns bullish. The first resistance would be the 100-day Simple
Daily digest market movers: Mexican Peso appreciates ahead of busy schedule
Last week, Banxico’s April poll showed that private economists estimate inflation to end the year at 4.2% in 2024, underlying prices at 4.1%, and the economy to grow by 2.25%. Regarding the USD/MXN, analysts revised their projections downward from 18.10 to 17.Mexico’s economic calendar will feature
MEXICAN PESO PRESSURED AS BANXICO DECISION LOOMS
Mexican Peso dips, USD/MXN rises 0.12% as market eyes key economic data and Banxico rate decision.Anticipated April inflation drop may prompt Banxico to consider cutting rates from 11.00% to 10.75%.US Fed officials, including Susan Collins and Neel Kashkari, urge caution in rate policy, impacting cr
WTI REMAINS ON THE DEFENSIVE AROUND $78.00 AMID SIGNS OF EASING SUPPLY TIGHTNESS, STRONGER US DOLLAR
WTI prices remained slightly on the defensive near $78.00 on Wednesday. The easing fear of oil supply disruption caps the upside of black gold for the time being. Saudi Arabia has increased oil prices to Asian customers, including China. Western Texas Intermediate (WTI), the US&
Pull-up Update