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Japan’s household spending has been a key factor influencing the USD/JPY pairing. Beyond just the numbers, investors need to closely monitor threats of intervention and commentary from the Bank of Japan (BoJ). The concern about the impact of a weak Yen on the Japanese economy has the potential to sway both government and BoJ decisions.
China’s manufacturing activity faced a setback in June, marking the second consecutive month of decline. The National Bureau of Statistics revealed that the purchasing managers’ index (PMI) remained stagnant at 49.5, below the 50-mark that signifies growth. Despite some positive indicators, such as the production sub-index being above 50, other key factors like new orders,
The US Dollar (USD) is currently showing signs of strength as fresh buyers enter the market, pushing the USD Index (DXY) to a two-month high above the 106.00 mark. This bullish trend comes after a slight downfall inspired by softer US macro data the previous day. Traders are now eagerly awaiting the release of the
The Deputy Governor Ryozo Himino of the Bank of Japan has highlighted the significant impact of exchange rate fluctuations on economic activity. These fluctuations not only affect inflation through direct impact on import prices, but also have broader and sustained implications. While the Bank of Japan aims to cap the upside through intervention threats, a
The Jibun Bank Services PMI unexpectedly fell to 49.8 in June, marking the first contraction since August 2022. This decline, coupled with a slowdown in output price inflation, has raised concerns about the strength of the Japanese economy. As a result, the Bank of Japan may need to reassess its monetary policy approach and place
The Indian Rupee started off the new week on a positive note, showing strength despite the stronger US Dollar. This resilience can be attributed to various factors such as the positive economic growth outlook in India, significant foreign inflows into Indian markets, and expectations of continued policy reforms following the general election results. One of
The USD/JPY pair has shown strength by breaking through the 158.20 resistance level. This has allowed the pair to rise towards the 159.20 resistance area, with the potential to reach the 160.00 level. The technical indicators, such as the 100 and 200 simple moving averages, are supporting this bullish movement. However, it is essential to
As the global economy faces uncertainty and potential downturns, the Australian dollar’s trading relationship with the US dollar remains a crucial focus for investors and analysts. With key economic indicators like the Australian Monthly CPI Indicator and various PMI numbers on the horizon, the AUD/USD pair is poised for significant movement in the coming weeks.
The Euro is the currency for the 20 European Union countries that belong to the Eurozone, making it the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions with an average daily turnover of over $2.2 trillion. The EUR/USD pair is
The Bank of England is scheduled to hold a meeting on Thursday at 11:00 am GMT, amidst the backdrop of a General Election in the country. This event has added an element of complexity to trading decisions, as the central bank is expected to maintain a cautious stance ahead of the election to avoid creating
Economists are forecasting changes in the Judo Bank Services PMI and Manufacturing PMI for the upcoming months. The Services PMI is expected to increase, while the Manufacturing PMI is predicted to fall. These numbers play a crucial role in impacting buyer demand for the Aussie dollar. The services sector in Australia holds significant weight in
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