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USD/JPY 155 in focus around US inflation, BOJ meeting: The Week Ahead

155 has become the latest 'glass ceiling' for the rapid rise of USD/JPY. And with a key US inflation report, BOJ meeting and potential for risk-off sentiment next week, this key level could be tested and prompt a response from Japan's central authorities.

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Today 04:01 PM
Energy

Crude oil spikes on reports of Israeli airstrike, gold threatens new high

WTI crude oil was up over 4% during the Asian session on reports that Israel’s middles had struck a site in Iran, further fans fears of a broader-scaled war in the middle East.

Research

US dollar taps 106 as US 2yr eyes break of 5%, gold rangebound: Asian Open

The US dollar index recouped some of Wednesday's losses and is now tapping 106, whilst the US 2-year yields considers a break above 5%.

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S&P 500 analysis: Will the recovery hold as focus turns to tech earnings?

S&P analysis: As markets have started Q2 poorly, amid interest rate uncertainty and raised geopolitical risks, investors are relying on earnings to provide boost, starting with Netflix today. S&P 500 technical analysis suggests more losses could be on the way, with 5,000 on the bears' radars.

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Congress building

Nasdaq 100 Forecast: QQQ rises as chip stocks rebound, Netflix earnings in focus

US stocks are inching higher after recent losses as chip stocks rebound following impressive earnings from TSMC and despite jobless claims coming in stronger than expected. TSMC is considered a bellwether for chip stocks, so the upbeat earnings have helped the sector, which had fallen in recent weeks. Attention is now turning to Netflix earnings after the closing bell.

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Yesterday 11:06 PM
Forex trading

USD/JPY analysis: Focus turns to FX intervention as traders eye 155 handle

USD/JPY is on intervention watch as the dollar index weakens for now, although the greenback remains fundamentally supported. For a sustained rise in the yen, the BOJ will need to address Japan’s still ultra-easy monetary policy as FX intervention can only provide temporary relief.

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Yesterday 09:00 PM
Multiple Euro bank notes in 20€, 50€ and 100€

EUR/USD, Oil Forecast: Two trades to watch

EUR/USD rises as the USD rally pauses. Oil steadies after a steep fall yesterday.

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Yesterday 06:33 PM
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China A50, Hang Seng, USD/CNH: Economic revival, state intervention creates ample trade opportunities

Chinese economic data is beating expectations at rates not seen since reopening to the world in 2023. And with the government and People’s Bank of China playing an active role in supporting mainland markets, it’s not surprising to see Chinese assets performing comparatively better than others across Asia right now.

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US dollar ponders correction as bond prices approach support

The US dollar has risen around 6% from the late December low. And with bond prices approaching support which could send yields lower, the US dollar rally could at least find some headwinds - if not a retracement.

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AUD/USD, ASX 200: Jobs report has little RBA implications, back to watching China

Australians are none the wiser as to what’s happening in the domestic labour market with another volatile jobs report creating more questions than answers. AUD/USD is largely unmoved, leaving offshore factors to remain in the driving seat.

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Yesterday 12:40 PM
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USD/JPY, Nikkei 225: Even the strongest market trends are under threat

USD/JPY upside looks limited in the near-term, hindered by narrowing interest rate differentials and perceived increased risk of Bank of Japan intervention. The stronger yen may add to growing downside momentum in the Nikkei 225, putting two of the strongest market trends in 2024 under threat.

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Yesterday 09:48 AM
Market chart

AUD/USD holds 64c ahead of AU jobs, crude oil slips 3%: Asian Open

The US dollar snapped a 6-day winning streak to allow AUD/USD to rebound from 64c in line with yesterday’s bias. And if AU employment figures perform today, it could extend its gains for a second day.

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Yesterday 09:16 AM
Oil rig in the sea

Crude oil analysis: WTI drops amid demand concerns

Middle East concerns should keep the downside limited for crude oil, after prices slid 3% as demand concerns intensified on weaker Chinese industrial data and amid the prospects of higher interest rates for longer. WTI technical analysis suggests the longer-term trend remains bullish, with the first short-term support level to watch coming in around $82 area.

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