Author: FX

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Trading Leveraged Products is risky The USD Index is betwixt and between amid various drivers. It closed at 104.706, inside the day’s 104.931 to 103.50 range. The advent of the holidays and year end have lightened volume measurably too, exacerbating some of the moves in the markets. Stocks are in red against Decembers’ seasonality. Treasuries fell today, especially at longer tenors, after the Bank of Japan unexpectedly lifted a cap on 10-year yields and unleashed a sell-off across global bond markets. Yields: 10yr rose to 3.71% and 30-yr to 3.72%. The S&P 500 has risen…

5/5 © Reuters. Beds are seen in a fever clinic that was set up in a sports area as coronavirus disease (COVID-19) outbreaks continue in Beijing, December 20, 2022. REUTERS/Thomas Peter 2/5 By Bernard Orr and Xinghui Kok BEIJING/SINGAPORE (Reuters) -Cities across China scrambled to install hospital beds and build fever screening clinics on Tuesday as authorities reported five more deaths and international concern grew about Beijing’s surprise decision to let the virus run free. China this month began dismantling its stringent “zero-COVID” regime of lockdowns and testing after protests against curbs that had kept the virus at bay for…

It is appropriate to continue easing policyToday’s decision is not an exit of yield curve control or change in policyToo early to debate exit from current monetary policyIf possibility of achieving 2% inflation target draws near, we can discuss timing of exitIt is still necessary to sustainably achieve 2% inflation targetSome verbal pushback there by Kuroda as he tries to play down the policy tweak today. He is saying the the decision was made as “deteriorating market functioning could threaten corporate financing”. Adding that there is no need to further expand the allowance band.ADVERTISEMENT – CONTINUE READING BELOW Source link

USD/CAD picks up bids to reverse the week-start losses. US Dollar benefits from the BOJ-inflicted losses in bond, stock markets. Oil price weaken amid economic fears surrounding China. Canada Retail Sales, US housing data eyed for fresh impulse. USD/CAD clings to mild gains around 1.3700 as the US Dollar reverses the intraday losses heading into Tuesday’s European session. The Loonie pair’s run-up could also be linked to the downside move of Canada’s main export item, namely WTI crude oil. That said, the US Dollar Index (DXY) picks up bids to pare recent losses around 104.50 as the Treasury bond yields…

© Reuters. FILE PHOTO: A man walks past Bank of Japan’s headquarters in Tokyo, Japan, June 17, 2022. REUTERS/Kim Kyung-Hoon TOKYO (Reuters) – The Bank of Japan said on Tuesday it will widen the band at which it will allow the 10-year government yield to move around its 0% yield target, as part of fine-tuning measures to address the cost of prolonged monetary easing. The BOJ also decided to sharply increase the amount of government bond buying, it said in a policy statement. As widely expected, the BOJ kept unchanged its -0.1% target for short-term interest rates, and 0% for…

Japan finance minister Suzuki: It is not the appropriate time to comment on the next BOJ governor.There has been no decision on revising the agreement with BOJ.These comments are in relation to the chatter, persistent and widespread, that there will be changes at the BOJ, and with BOJ policy, after Bank of Japan Governor Kuroda leaves in April next year. More here:ADVERTISEMENT – CONTINUE READING BELOW Source link

NZD/USD is taking out a key level and printing fresh lows within a bearish schematic. should the bulls move in now, then there will be prospects of a restest of prior structures near 0.6355  and 0.6375 above.  NZD/USD has been chipping away at the downside in Asia, sliding to a fresh session low at the time of writing, down 0.35% on the day so far after dropping from a high of 0.6365. The US Dollar has been struggling to break higher which had been giving the commodity complex some room to breathe but the tables are turning. The greenback came under pressure…

S&P 500, Event Risk, BOJ Decision, GBPUSD and USDJPY Talking Points:The Market Perspective: USDJPY Range Below 138 and Bearish Below 133.50; EURUSD Bearish Below 1.0550; GBPUSD Bearish Below 1.2100The fundamental drums eased heading into the new trading week, but the S&P 500 extended its slide from last week to stretch from the 20-day moving average while coming into technical supportA number of Dollar crosses are on the verge of short-term bearish reversals (against the Greenback), but will the market trigger the breaks – much less find follow through? Recommended by John Kicklighter Building Confidence in Trading We have stumbled into…

© Reuters. FILE PHOTO: Former film producer Harvey Weinstein appears in court at the Clara Shortridge Foltz Criminal Justice Center in Los Angeles, California, USA, 04 October 2022. Harvey Weinstein was extradited from New York to Los Angeles to face sex-related cha By Lisa Richwine and Tim Reid LOS ANGELES (Reuters) – Former movie producer Harvey Weinstein was found guilty of rape in a trial in Los Angeles on Monday, the second conviction for the one-time Hollywood kingmaker who became the face of #MeToo sexual abuse allegations five years ago, according to the Los Angeles Superior Court. The jury found…