Author: FX
Economists at HSBC think USD/JPY will fall by year-end 2023 on a range of factors from future BoJ policy announcements to improvements in Japan’s balance of payments and a revival of the JPY’s “safe haven” status. A revival of Yen’s ‘safe haven’ status could weigh on USD/JPY “There are many upcoming events that could lead to a change in the BoJ’s policy later. PM Kishida will likely nominate the next BoJ governor sometime in February. Governor Kuroda will chair his last monetary policy meeting on 10 March. The first result tabulation of Shunto (annual wage negotiations) will likely be announced…
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© Reuters Coinbase (COIN) seen benefiting from credibility issues and Shanghai fork – Morgan Stanley raises target By Vlad Schepkov JPMorgan maintained a ‘Neutral’ rating on Coinbase (NASDAQ:) but raised its price target to $60 from $53, noting that the company is “a beneficiary of the challenges that have faced other brokers/exchanges in the aftermath of the collapse and bankruptcy of FTX.” In its latest note, JPMorgan analysts highlight the company’s strong reputational standing in the industry, noting that while “the crypto-ecosystem has suffered further meaningful credibility issues, Coinbase has emerged with its credibility and brand strengthened — at least…
Have you ever had trouble telling when you should cut losses? You might have experienced the markets going against your trade and then suddenly you’re praying to your trading gods that price would turn. Then, when you (or your account) have reached your pain threshold, you end up closing at the top or bottom. Either that or you decide that you’ve “learned” from the last time you closed a losing trade and opt to “wait it out” until your account cries uncle. If the scenario above sounds familiar to you, don’t worry. The problem is much more common than you…
EUR/USD Price, Chart, and AnalysisECB ramps up the hawkish rhetoric.EUR/USD benefits from ongoing US dollar weakness. Recommended by Nick Cawley Get Your Free EUR Forecast The European Central Bank is not for turning and will continue to raise interest rates, and keep them there for long enough, ‘so that we can return inflation to 2%’, according to ECB President Lagarde, speaking at the World Economic Forum in Davos. Ms. Lagarde also warned those who questioned the ECB’s intent to further tighten monetary policy into restrictive territory saying, ‘I would invite them to revise their position, they would be well-advised to…
As is the case with every Lunar New Year, there will be a week-long break for Chinese markets. As such, that will impact liquidity conditions somewhat during Asia trading. Other markets will not be impacted, so expect the usual day-to-day in Europe and North America.To those celebrating, I wish you and your family a healthy, prosperous and Happy Lunar New Year! 恭禧发财~ Source link
Introduction to the Levels Indicator Support and resistance levels are key elements on a price chart which traders should be aware of. This is because the market often takes interest on these levels, which often result in a strong market reaction. The Levels Indicator was developed to help traders identify potential support and resistance levels. What is the Levels Indicator? The Levels Indicator is a technical trading tool which helps traders identify horizontal support and resistance levels where price may reverse or break out from. This indicator plots 10 horizontal lines, five of which are support levels and five of…
On the 7th of December China surprised friend and foe with an abrupt zero-covid U-turn. This year’s forecast has considerable up- and downside risks. Still, economists at Rabobank believe that from a medium-term perspective, China’s economic prospects have become more favourable after abandoning zero-Covid policy. A pivotal pivot? “While from a long-term perspective China’s decision to abandon its zero-covid policy is to be heralded, the short-term effects will likely turn out to be grim. The absence of (reliable and recent) data regarding new cases, hospitalization, deaths and many other relevant time series that could shed a light on the current…
Bank of Japan (BoJ) Governor Haruhiko Kuroda is speaking in a panel discussion titled “Global Economic Outlook: Is this the End of an Era?” at the World Economic Forum (WEF), in Davos this Friday. Key quotes Decision taken by the board last month was not a mistake, will carry on accommodative monetary policy. Expect wages to accelerate growth, and that will eventually help us to meet the 2% inflation target in a stable manner. Japan’s economy can grow 1-2% in the next 2 years. Two years of 2% growth means the GDP gap is closing. Expect inflation rates to start…
GOLD OUTLOOK & ANALYSISMarkets overruling the Fed which may be a fatal blow for gold should the Fed follow through on their promises.Fed speakers to dominate headlines todayOverbought price action possibly hinting at short-term bearishness? Recommended by Warren Venketas Get Your Free Gold Forecast XAU/USD FUNDAMENTAL BACKDROPGold is continuing to press higher challenging levels last seen in April 2022 on the back of weaker U.S. data. These include softer inflation, weaker PMI data and signs of slowing wage pressures. On the contrary, the labor market remains tight keeping hawks relevant and while inflationary pressures are on the decline, the inflation…