The BoJ delivered a minimal tweak to policy this week with markets still betting on rate hikes in April 2024. USDJPY benefitted from a weaker US Dollar which should it continue could negate the need for full blown BoJ FX intervention.
Oil prices attempted a recovery today and was up around 2%. The 100-day MA is proving a stumbling block at present but can it inpsire another bullish run?
EUR/USD technicals are hinting at a recovery but we do have a lot of high impact data ahead. EUR/JPY continues to struggle for direction on the threat of FX intervention by the BoJ. Will the week ahead provide any clarity?
Oil prices failed to maintain yesterday's bullish momentum as markets anticipate a drop in demand in Q4 from both the US and Europe. Is WTI finally heading back to the 80.00 mark?
Oil prices look poised for further upside from a technical standpoint but tensions in the Middle East will remain the key driver of Oil prices in the week ahead. Will we see a fresh YTD high?