BOJ Downgrades Inflation Forecasts Significantly as It Struggles with Limited Tools
The BOJ left its monetary policy measures unchanged in April. However, it revised sharply lower the inflation forecasts for this fiscal year. The country’s economy has been far below the +2% inflation despite a decade’s unconventional easing measures. On the...
Canadian Dollar Jumps While Dollar Recovers, Yen Shrugs BoJ
While NASDAQ and S&P 500 closed at new records overnight, there is no follow through risk-on buying in Asian session. Investors are generally still cautious ahead of Fed meeting. Dollar recovers in general but upside momentum is very weak. Canadian...
Stock futures are flat after S&P 500 and Nasdaq close at record highs
Traders on the New York Stock Exchange. Source: NYSE Stock futures held steady in overnight trading on Monday as investors braced for another batch of corporate earnings. Futures on the Dow Jones Industrial Average and S&P 500 futures were little...
AUDUSD Maintains Green Glow; Bulls Remain in Control
AUDUSD came just shy of the 0.7815 high achieved on April 20, after the pair found positive traction within the support zone of 0.7676-0.7700. The climbing 50- and 100-period simple moving averages (SMAs) on the four-hour chart are endorsing the price...
UK Realized Sales Could Turn Positive
The British pound has posted slight gains at the start of the week. In the North American session, GDP/USD is trading at 1.3894, up 0.14% on the day. The pound punched above the symbolic 1.40 level last week and appeared...
Dollar Mixed after Durable Goods Miss, Aussie Leads Commodity Currencies Higher
Overall market sentiments are steady today. Commodity currencies are currently the strongest ones for today so far, as led by Aussie. Dollar is recovering despite weaker than expected durable goods orders. Euro turns after after slightly weaker than expected Germany...
Covid Weighs On Oil Prices, Gold Eyes Fed
Japan and India’s covid crisis weighs on oil Oil is being dragged lower by the deepening covid crisis in India and Japan. As the world’s third and fourth-largest importers of oil see lockdown restrictions tighten, the demand outlook for oil...
Microsoft Stock Poised For A Breakout Ahead Of Earnings
Microsoft Inc stock had its best month in almost a year, surging by 10.5% to top at a new all-time high of 261.50 on Thursday. The bullish fuel, however, seems to be running low according to the technical picture, suggesting...
GBP/JPY Trend Line Is Taken Out
The GBP/JPY has been breaking below the trend line after successfully making 1-2-3 pattern sell. Last week I saw a potential for the short. However, the shorts happened after point 3 has been printed out and now we see that...
Dollar Selloff Extends as Focus Turns to Fed, BoJ, GDP and Inflation
Dollar’s decline continues as another week starts as focus turns to Fed and BoJ, as well as a batch of important economic data. . European majors are also soft even though they managed to gain against the greenback. On the...
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