This is the weakest JPY/USD performance since the mid-1990s. All eyes are now on the Bank of Japan (BOJ) as the markets expect some intervention from this monetary policymaker to bolster the yen. Don’t miss out the latest news, subscribe to LeapRate’s newsletter This currency’s weakness sparked market angst as the Japanese finance minister, Shunichi…
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A year ago, the euro was 1.100 to the US dollar. Analysts believe that a lower-than-expected value of the Hamburg Commercial Bank’s (HCOB) manufacturing PMI contributed to the feebler euro performance. The HCOB manufacturing PMI missed estimates and came in at 45.6, a decline from March 2024’s 46.5. The latest indicators also fell short of…
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The dollar index retreated by 0.2% to reach 104.85, its lowest point in over six weeks, following a substantial 1.4% drop last week. In contrast, the euro saw a 0.2% increase, reaching a 7.5-week high at $1.0756. Several factors contributed to the dollar's decline. These included the weakening US job market, softer manufacturing statistics, and…
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Jim Leaviss, Chief Investment Officer for Public Fixed Income at M&G, noted: It feels like the market is anticipating a modification to yield curve control and is starting to price that already. However, industry experts at Barclays anticipate that the BoJ may scrap yield curve control entirely this week after a damaging start to the…
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BoJ, the Fed and the BoE on the Radar The BoJ is anticipated to remain on hold at -0.10%, though a potential change in forward guidance and a tweak to the yield-curve-control programme are on the table. The central bank’s quarterly outlook will also be critical for many: the BoJ’s projections for growth and inflation.…
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Serving as the Fed’s preferred measure of inflation, the PCE price index rose 3.3% in the twelve months to July (in line with economists’ estimates), up from 3.0% in June. The core PCE price index for the same period, which excludes food and energy, rose 4.2% in July (also in line with economists’ estimates), up…
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The most important economic data for this week are: On Tuesday the 22nd until Thursday the 24th there will be the BRICS summit held in Johannesburg, South Africa where the leaders of the countries will meet (except President Putin that will attend virtually due to an arrest warrant issued by the International Criminal Court for…
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The weekly timeframe shows price action recently dropped in on support from $1,898, a level sharing chart space closely with a descending resistance-turned-support level taken from the high of $2,070. Adding weight to this support is the daily timeframe’s 200-day simple moving average at $1,902. This dynamic value, alongside being used for trend identification (it…
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The financial watchdog questions the suitability of eToro’s contract-for-differences (CFD) target market. A CFD is a leveraged derivative contract that allows a trader to invest in the value changes of underlying assets. ASIC alleges that eToro’s CFD market is too wide considering the high-risk and volatile nature of this trading niche, where most lose their…
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Higher Timeframe Trend Indecisive We can see that from the weekly timeframe—a chart often employed to identify the primary trend (assuming you’re a fan of Dow Theory)—price action has gradually decreased since February 2021. However, the recent pullback (the local uptrend since pencilling in a bottom around $18.00 in August 2022) tells me that the…
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