Global Market Volatility Amid Central Bank Decisions and Corporate Earnings
The global market is experiencing significant volatility due to uncertainties in economic data and central bank policies. Key highlights include the Nasdaq 100 index's dramatic rise and fall, Amazon's disappointing sales data, and Japan's significant stock market drop following an unexpected rate hike by the Bank of Japan.
Dollar Gains on Hawkish Fed Outlook
After digesting Jerome Powell's comments following the FOMC interest rate decision on Wednesday, the dollar erased all its losses from the soft CPI reading, continuing its upward trajectory. The hawkish outlook from the Fed stimulated dollar strength against its peers, while the bullish momentum in equity markets was hindered by the prospect of prolonged high interest rates.
USDJPY Predicted to Rise on Yen Depreciation
The USD/JPY pair is predicted to increase based on both fundamental and technical analyses. Fundamental factors include a potential easing of aggressive bond buying by the Bank of Japan (BoJ), which could lead to yen depreciation. Technical indicators suggest a continuing uptrend, with the possibility of a correction once the price reaches the 157.7 to 160 range.
Yen Strength Amid Market Tumult to Keep BOJ Target Out of Reach
The Yen‘s traditional haven role has seen it boosted by trade war and recession fears. However, with domestic inflation decelerating again, it’s gains put the Bank of Japan is in a very tricky spot.
Japanese Yen Gains As BOJ Leaves All Monetary Settings Alone
The Japanese Yen got a very modest boost from the BoJs expected decision, perhaps as it contrasted with a more dovish Federal Reserve
Japanese Yen Takes BoJ Growth Call Cut In Stride, Policy Settings Held
The Japanese Yen was steady as the BoJ left its monetary settings alone and cut forecasts for both growth and inflation yet again.
Currency Volatility: Japanese Yen Eyes Upcoming BOJ Rate Decision
With the Bank of Japan interest rate decision slated for Thursday's session, forex traders could experience increased price action in JPY currency crosses.
Japanese Yen Weakens Slightly As BoJ Holds Policy, Sounds Gloomier
The Japanese Yen faded a little as the central bank left its ultra-accommodative monetary settings alone and worried about an offshore slowdowns effects on Japan.