Author: FX

Eamonn Sheridan Thursday, 22/06/2023 | 01:32 GMT-0 22/06/2023 | 01:32 GMT-0 BOJ BOJ The Bank of Japan (BOJ) is the central bank of Japan. It was established in 1882 and is headquartered in Tokyo.The BOJ’s main responsibilities include issuing and managing the country’s currency, implementing monetary policy, and ensuring the stability of the financial system. It also acts as a lender of last resort to banks during times of financial crisis. The BOJ sets the interest rate of the country and sets an inflation target, aiming to achieve 2% inflation.The BoO has a long history, with The Bank of Japan…

Share: USD/JPY pulls back from a fresh YTD peak touched on Wednesday, albeit lacks follow-through. Powell’s less hawkish remarks keep the USD bulls on the defensive and act as a headwind. The Fed-BoJ policy divergence continues to undermine the JPY and helps limit the downside. The USD/JPY pair edges lower during the Asian session on Thursday and moves away from a fresh high since November 2022, around the 142.35 area touched the previous day. Spot prices, however, manage to hold above the 100-hour Simple Moving Average (SMA) and currently trade just below the 142.00 round-figure mark. The US…

Toltek/iStock via Getty Images U.S. futures prices for wheat, corn and soybeans jumped to multi-month highs Wednesday, as traders were surprised by the the latest Crop Progress report from the U.S. Department of Agriculture that showed some of the worst crop conditions in three decades. On the Chicago Board of Trade, wheat (W_1:COM) for July delivery finished +5.6% to $7.34 1/2 per bushel, corn (C_1:COM) for December delivery closed +5.2% to $6.28 3/4 per bushel, and November soybeans (S_1:COM) settled +2.6% to $13.77 per bushel. ETFs: (NYSEARCA:WEAT), (NYSEARCA:CORN), (NYSEARCA:SOYB), (DBA), (MOO) In its weekly report, the USDA said 55% of…

5/5 © Reuters. Brazil’s President Luiz Inacio Lula da Silva talks with appointed Substitute for General Affairs of the Vatican’s Secretariat of State Archbishop Edgar Pena Parra, during this meeting with Pope Francis, at the Vatican, June 21, 2023. Vatican Media/­Hando 2/5 VATICAN CITY (Reuters) – Pope Francis met Brazilian President Luiz Inacio Lula da Silva on Wednesday and discussed a range of common concerns including peace, poverty, inequality and the environment, the Vatican said. Although the Vatican did not specifically mention Russia’s invasion of Ukraine, Lula made clear before the meeting that seeking an end to the war was…

USD/CAD FORECAST:USD/CAD extends its recent sell-off, falling to its lowest level since September of 2022Bearish double top target at 1.2990 remains in place for nowNear-term market direction will depend on how prices react near trendline support at 1.3150 of clients are net long. of clients are net short. Change in Longs Shorts OI Daily 3% 9% 5% Weekly -5% -3% -5% Most Read: Japanese Yen Outlook – USD/JPY Entrenched in Strong Uptrend amid Hawkish PowellUSD/CAD broke below the 1.3300 level decisively last Thursday, confirming a double top pattern, a technical setup with negative implications for the underlying asset once validated.…

The USD was mixed at the start of the trading day. Below are was the dollar changes vs the major currencies near the start of the US session. The USD at the start of the US trading dayLooking at the snapshot of the strongest to the weakest now shows the USD is lower against all the major currencies with the exception of the JPY. Having said that, the USDJPY is still a bit lower from earlier levels.The strongest to the weakest of the major currencies Source link

Share: BoC’s Summary of Governing Council deliberations shows members agree the economy remained clearly in excess demand.  At the June meeting, the BoC raised interest rates by 25 basis points.  USD/CAD trades at the lowest since August 2022.  The Bank of Canada’s Summary of Deliberations from the June 7th meeting when it unexpectedly raised its key interest rate by 25 basis points to 4.75%, showed member view that with the resurgence in household spending growth, the pickup in consumer confidence, and the slowing in disinflationary momentum, monetary policy did not look to be sufficiently restrictive. The document notes…

USD/JPY OUTLOOK:USD/JPY resumes its advance and rises to its best levels since November 2022The U.S. dollar draws support from higher Treasury yields following hawkish comments from the Fed chair at a Congressional hearingPowell says that the fight against inflation “has a long way to go” and that “nearly all FOMC participants” expect to hike rates again this year Recommended by Diego Colman Get Your Free JPY Forecast Most Read: Japanese Yen Latest: USD/JPY, GBP/JPY, and EUR/JPY OutlooksUSD/JPY rebounded on Wednesday after a subdued performance in the previous session, boosted by climbing U.S. Treasury yields following hawkish comments from the Federal…

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© Reuters. FILE PHOTO: US Treasury Secretary Janet Yellen (R) speaks during a meeting with Japan’s Finance Minister Shunichi Suzuki at the G7 Finance Ministers and Central Bank Governors’ Meeting in Niigata on May 13, 2023. KAZUHIRO NOGI/Pool via REUTERS/File Photo (Reuters) – U.S. Treasury Secretary Janet Yellen will press world leaders to take concrete actions at a summit this week on easing the debt burdens of low-income nations, a senior Treasury Department official said on Wednesday. Yellen will lead the U.S. delegation to the Paris meeting on Thursday and Friday. French President Emmanuel Macron also wants delegates to commit…