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Australian business conditions continued to soften in December as manufacturing and construction lost ground, a survey showed on Tuesday, while price pressures eased markedly in a promising sign... -January 22, 2024 at 07:32 pm EST - MarketScreener
Yen weakened momentarily after BoJ left monetary policy unchanged as widely expected, but swiftly regained stability. This quick recovery underscores the market's assessment that the conditions for a BoJ rate hike in April remain intact. This viewpoint is bolstered by unchanged CPI core-core forecast, which holds steady at 1.9% for the upcoming two fiscal years. However, BoJ refrained from offering any immediate signals for such a policy shift. The decision on whether to raise interest rates will depend heavily on the outcomes of the Spring wages negotiations, especially in terms of the b...
Identifying a singular driving theme proves challenging In today's forex market. Japanese Yen made an attempt to rebound following BoJ Governor Kazuo Ueda's post-meeting press conference, where he hinted at the potential of a future rate hike. However, this rebound was short-lived, and Yen soon reverted to its familiar tight trading range, indicating that the market is uncertain on when the anticipated rate move would happen. Dollar, despite being lower on the performance chart, is showing signs of gaining momentum against European majors as the market enters into the US session.
The Australian and New Zealand dollars remained vulnerable to further losses on Wednesday as hawkish U.S. central bank speak forced traders to temper their rate cuts optimism, while long-end bond...
This amidst rising mortgage costs and supply concerns, economists say