Author: FX
<p>BoJ announces unscheduled bond buying operation </p><p>Offers to buy</p><ul><li>JPY 100bn 3-5 Year</li><li>JPY 100bn 5-10 Year</li></ul> This article was written by Eamonn Sheridan at www.forexlive.com. Source link
Yesterday, the Bank of Japan unexpectedly tweaked its yield curve control (YCC) policy, raising its target for 10-year bond yields to 0.5% (previously 0.25%). The move reflects the central bank’s move towards policy normalisation, while also testing the market’s reaction to its exit from ultra-easy policy. The central bank later said that it was “only fine-tuning rather than withdrawing stimulus” and that it would “still increase the size of its bond purchases significantly”, but this still did not stop the market from whipping up a wave of volatility. In short, when the Bank of Japan is no longer as dovish…
WTI crude oil picks up bids to portray three-day uptrend. US Dollar bears the burden of BOJ-inflicted bond selling. Surprise fall in API inventories, upbeat headlines from China, Japan adds strength to the recovery moves. Weekly EIA oil stockpiles, US CB Consumer Confidence eyed for fresh impulse. WTI crude oil buyers jostle with a short-term key hurdle around $76.50 during the three-day uptrend on Wednesday morning. In doing so, the black gold cheers the broad-based US Dollar weakness, as well as cautious optimism in the market. Adding strength to the run-up could be the latest inventory data from the private…
© Reuters. FILE PHOTO: A man looks at his phone as he walks past a Telstra logo adorning a phone booth in the central business district (CBD) of Sydney in Australia, February 13, 2018. REUTERS/David Gray (Reuters) -The Australian Competition & Consumer Commission (ACCC) on Wednesday rejected TPG Telecom’s regional network-sharing agreement with Telstra (OTC:) Group, and said the deal would significantly weaken overall competition in the country. TPG’s shares tanked nearly 6% to a record low following the news, while Telstra slipped 0.1%. The broader market, meanwhile, was up more than 1%. In February, the telecom giants signed a…
Introduction to the Stochastic Momentum Index Blau SMI Indicator The Stochastic Momentum Index (SMI) was developed by William Blau, which is a smooth oscillator based on the Stochastic Momentum Indicator. This indicator is a version of the SMI Indicator based on the original formula made by William Blau. What is the Stochastic Momentum Index Blau SMI Indicator? The Stochastic Momentum Index Blau SMI Indicator is a momentum indicator which indicates momentum direction using an oscillator. This oscillator is derived from the Stochastic Momentum Indicator. It simply uses several layers of smoothening on the Stochastic Oscillator giving it a distinctly smooth…
Prior revised from -0.05% m/m to +0.02% m/m.Via WPAC:The six-month annualised growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, fell from -0.84% in October to -0.92% in November.Growth rate falls to -0.92% from -0.84% in October.Fourth consecutive month of negative growth rate.Consistent with below trend growth well into 2023.Drivers of weakness are the cash rate and commodity prices.—Westpac add their outlook for the Reserve Bank of Australia to the report, this is in summary:We expect the Board will opt for a further…
Stocks edged higher after a choppy session on Tuesday, breaking a four-session losing streak. With the Christmas holiday approaching, investors are looking for direction following a Federal Reserve-inspired decline in recent weeks. Even as the broader market stabilized, Tesla (TSLA) continued to push lower, extending its 52-week low. Meanwhile, FuelCell Energy (NASDAQ:FCEL) posted a double-digit percentage decline following the release of its quarterly report. On the upside, DLocal (DLO) rallied on a stock buyback plan. At the same time, Verona Pharma (VRNA) surged following the release of clinical data. Standout Gainer Investors cheered a new stock buyback plan from DLocal…
AUDJPY, D1 AUDJPY, Daily The RBA appeared to fulfil market expectations by offering clues in the RBA minutes on when it will end its tightening cycle. According to the minutes, the central bank discussed ending tightening in December, but board members decided to raise rates for the third consecutive time by 25 basis points. Board members made the case for no adjustment for the first time since the tightening cycle began in May, which suggests that the cycle may be coming to an end. The minutes pointed out that no other central bank has stopped tightening yet and the members…
Japanese Yen Talking Points:Yen strength has been the rage since last night’s Bank of Japan rate decision. While the BoJ didn’t hike rates, they did widen the band of rates for JGB purchases which was unexpected.This created further unwind of the Yen carry trade that drove for so long during 2022 trade but the big question now is one of continuation potential.The analysis contained in article relies on price action and chart formations. To learn more about price action or chart patterns, check out our DailyFX Education section. Recommended by James Stanley Get Your Free JPY Forecast The Bank of…
Stefonlinton FedEx Corporation (NYSE:FDX) stock traded in a volatile manner after hours on Tuesday after notching a surprise beat on the bottom line for Q2, but offering light full-year forecasts. The Memphis-based transportation company posted $3.18 in earnings per share for the fiscal second quarter on $22.8B in revenue. The analyst consensus expectations stood at $2.83 and $23.72B, respectively. Lower global volumes for the Express business was cited as a particular headwind for the company, offsetting some of the cost-saving initiatives pursued by the company. “The FedEx team moved with urgency to make rapid progress on our ongoing transformation while…