Author: FX

POUND STERLING ANALYSIS TALKING POINTSUK CPI revealed sticky inflation in the region bolstering pound bets.BoE likely to stick to 0.5% in February meeting in what would be their 10th consecutive rate hike!Golden cross unfolding in textbook fashion, how long can it last? Recommended by Warren Venketas Get Your Free GBP Forecast GBP FUNDAMENTAL BACKDROP Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The British pound received support this morning after a mixed bag of inflation data. Headline inflation in the UK declined in line with expectations…

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© Reuters. FILE PHOTO: A woman shops at a Sainsbury’s supermarket, amid the spread of the coronavirus disease (COVID-19), in London, Britain January 11, 2021. REUTERS/Hannah McKay/File Photo LONDON (Reuters) – British consumer price inflation fell to 10.5% in December from November’s 10.7%, figures from the Office for National Statistics showed on Wednesday. Economists polled by Reuters had forecast that Britain’s annual CPI rate would drop to 10.5% in December, moving further away from October’s 41-year high of 11.1%. Core CPI – which excludes energy, food, alcohol and tobacco – was unchanged at 6.3% in December. The Bank of England…

The market is still digesting the BOJ policy decision from earlier with the yen being knocked down by over 2% across the board while bonds are more bid in the aftermath. The central bank doubled down on defending their yield curve control policy and that has seen 10-year JGB yields fall to 0.41%. The move has reverberated with 10-year Treasury yields also seen down 6 bps to 3.494% currently.Kuroda’s press conference will be up in the next half-hour, but I would expect him to reaffirm their current policy stance if anything else. However, so long as inflation data in Japan…

USD/INR picks up bids to reverse the previous day’s pullback from one-week high. Bank of Japan’s inaction drowned Treasury bond yields, underpinned US Dollar demand. Increased hedging by Indian importers, foreign outflows weigh on the INR. US Retail Sales, PPI will be crucial to forecast further USD run-up. USD/INR grinds higher past 81.50, around 81.70 by the press time, as bond buyers underpin the US Dollar run-up during early Wednesday. Also adding strength to the Indian Rupee (INR) pair could be the chatters of increased hedging by importers and foreign outflows from India. “Average dollar purchases by importers, beyond the…

Can’t decide on your euro bias just yet? Check out this potential bullish play on EUR/CHF and a bearish reversal pattern forming on EUR/CAD. EUR/CHF 4-hour Forex Chart by TradingView This neat break-and-retest setup on EUR/CHF looks too good to pass up! The pair busted through the ceiling at the .9900 handle early this year and zoomed up to a high of 1.0097 before retreating. Will these nearby support levels attract more buyers? The Fib retracement tool reveals that price is already close to testing the 61.8% level, which might be enough to keep losses in check. A larger correction…

By Ambar Warrick  Investing.com– The Japanese yen and benchmark bond yields fell sharply on Wednesday after the Bank of Japan maintained its yield curve control range, ducking market expectations for a further widening in the bank’s policy. The fell over 2% to 130.97 against the dollar, pulling back sharply from an eight-month high hit earlier this week. fell 2.6% and were now trading at 0.492%, below the central bank’s upper limit, which they had breached in anticipation of Wednesday’s decision. But Japanese stocks welcomed the move, with the index rallying over 2% to a near one-month high. also briefly spiked after…

The National Development and Reform Commission of the People’s Republic of China (NDRC) is the state planner. Earlier:A few more comments trickling in from an official:China will moderately frontload infrastructure investment this yearConfident can ensure grain supply despite challenges-Front loading will shift the stimulus forward. China is rolling out economic stimulus, especially that aimed at the property sector. ADVERTISEMENT – CONTINUE READING BELOW Source link

Japanese Yen, USD/JPY, Bank of Japan – Market Alert:Japanese Yen sinks as Bank of Japan leaves policy unchangedMarkets eyed more policy normalization, which did not happenUSD/JPY shoots towards key falling trendline from October Recommended by Daniel Dubrovsky Get Your Free JPY Forecast The Japanese Yen weakened over 2 percent in the aftermath of January’s Bank of Japan monetary policy announcement. If losses are sustained, this will end up being the best single-day performance for USD/JPY since March 2020. Let us take a closer look at what happened here.Well as it turns out, nothing much at all. The BoJ left all…

EUR/JPY has delivered a perpendicular north-side move on the unchanged BoJ policy. BoJ Kuroda has kept the interest rate unchanged at -0.1% and the 10-year JGBs target at around 0%. The cross has surpassed the 200-period EMA at 140.00 in one go and is expected to extend gains further. The EUR/JPY pair has displayed a juggernaut run as the Bank of Japan (BOJ) has kept the monetary policy unchanged. BoJ Governor Haruhiko Kuroda has kept the interest rate unchanged at -0.1% and the 10-year Japan Government bonds (JGBs) target at around 0%. Investors are expecting cues about an exit from…