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Should we expect new records for USDJPY?

The Japanese yen started to fall again against the dollar, this is the third peak above 150 Yen to the dollar and after the intervention of the Bank of Japan. On Tuesday, USD/JPY traded at a high of 150.87. Levels above USD/JPY 150 are a signal to traders that the Bank of Japan may intervene in the market and lower the rate by at least 300 pips. Therefore, trading above these levels is currently only regulated, and reaching 150 Yen to the Dollar, a decline follows. The first time we saw levels above 150 Yen to the Dollar was on October 16, 2022, and the second time the Bank of Japan intervened was in November 2023. Following the technical and fundamental data, we can conclude that this time we may witness a new record above 151.94 (October 16, 2022 Record). World-Signals.som expects a breakout next week with a probability of levels above 154.00.

Will the dollar stay strong this week?

The US jobs report came out on Friday. Investors' expectations were for a significant decrease in newly opened jobs compared to the previous month. Strangely, the result was 180 degrees opposite to expectations. The US economy added even more jobs than the previous record month. This gave the dollar strength against major currencies. Although many analysts expect a big correction in the latest data, towards less growth in new jobs, the dollar will maintain its strength this week.

EURUSD movements in 2023 and forecast for 2024

During the past year 2023, the Euro-Dollar moved within narrow limits. The lowest level in 2023 was EURUSD 1.0448, while the highest was 1.1275. That's a difference of 827 pips. Extremely narrow are these limits considering that there have been days in other years when the EURUSD made this 800 pips move in just 1 day! The beginning of 2023 EURUSD started at levels of 1.0685 to end the year at 1.1036. Again, an extremely small difference. For the most part, the Dollar has stopped growing against the Euro since October 2022 and has moved smoothly this year. The reason for this is mainly in the interest rate policy in the United States, where for more than a year there has been talk of an end to interest rate increases. In fact, higher interest rates are not expected this year, but on the contrary, a reduction in the main interest rate, which is now at the level of 5.5%. Expectations for the year 2024 are that the Federal Reserve will begin a smooth reduction of interest rates, and at the end of the year they will be at levels below 5.0%. This will definitely be reflected in a weaker dollar, regardless of the fact that the ECB will most likely also reduce its main interest rate from the current level of 4.5%.

Oil crashes again - what are the reasons and what prices to expect this month?

The price of oil continues to collapse amid extremely low consumption in Europe. Although growth in oil consumption in China and much of Asia remains on track, the sharp collapse in fuel demand in Europe has come as somewhat of a surprise to markets. Europe is becoming an increasingly poor part of the world, where the economic collapse continues and oil demand is at levels of 40 years ago. The leading countries in Europe, such as Germany, France, Italy, Spain, are behind the leaders in the collapse of fuel demand. And it's not because of electric cars. They are still a minor share of the market. Today, the price of oil continues its decline, after not particularly convincing data from China. Oil brand VTI fell to the level of $77.52, falling over $4.50 in the last 24 hours alone. World-Signals.som expects the decline to continue for a few more days, and very soon we can expect calls from OPEC and OPEC+ for a new meeting with the aim of reducing production. Until then, we expect BTI oil levels to fall below $72.

Yen collapses against the dollar - should we expect an intervention?

We expect the Bank of Japan to intervene in the market to support the Yen in the next few hours. In the last few hours there has been a collapse of the Yen against the Dollar. While in the morning European session, the USDJPY was trading at levels around 149.50/149.80, it followed a decline of over 200 pips. It is possible that the Bank of Japan will wait for the start of the Asian session to intervene and tame the fall of the Yen. USDJPY reached 151.70 levels, but intervention fears seem to be stopping growth for now.

Credit Suisse inquiry will keep files secret for 50 years, says report

There is definitely something very disturbing about keeping secret the collapse of this supposedly stable Swiss and world bank. 50 years??? - Thus, all persons responsible for this collapse will have lived their lives free of responsibility.

Bitcoin is no longer a passing fad

The entry into the race to launch a spot BTC-ETF by majors such as BlackRock and Fidelity shows that Bitcoin is no longer a "passing fad". Many investors view this asset class as a once-in-a-generation investment opportunity. Grayscale CEO: - Biggest Bitcoin Holder - Owns a 655K BTC Trust ($19.7B).

US interest rates were expected to remain unchanged today

The Federal Reserve kept the key interest rate unchanged at 5.25%. The decision is expected after the series of interest rate hikes and the slowdown in inflation. The dollar rose after this decision from EURUSD 1.0853 to levels just above EURUSD 1.08.


 

 

 

 

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