THIS WEEK’S MARKET-MOVING EVENTS (all days local)
Japan’s quarterly Tankan survey will open the week amid expectations for slowing at large manufacturers. Slowing is expected for US nonfarm payroll growth on Friday to a still strong 200,000 in March from 275,000 in February; wage pressures are also seen slowing but still overheated. Likewise, slowing is expected for Canadian employment on Friday to a very solid 25,000 from February’s 40,700.
Inflation data from Europe will be Tuesday’s and Wednesday’s focus, first from German where some cooling is expected for March then from the Eurozone as a whole where only marginal cooling is the call, to 2.5 from 2.6 percent overall and to 3.0 from 3.1 percent for the narrow core.
Policy news will include the Bank of Canada’s business outlook survey on Monday and minutes from the Reserve Bank of Australia on Tuesday
Evonoday
USDJPY Week Ahead
Intervention or no intervention – that is the question !
If we just ignore it, this is what it is right now :
Support at 150.500 – has to Hold for move Up
Resistance at 152.000
In my opinion, this is the perfect set up for targeting 155.000
I don’t trade opinions…even my own – but I see it only Up as it is.
Client Sentiment shows the percentage of IG client accounts with positions in this market that are currently either long or short. If the majority sentiment is long a given market, then those clients expect the price to rise; if the sentiment is short, then they expect it to fall.
Traders can use client sentiment to either follow the trend or take a contrarian stance.
*All data is taken at 10:00pm ET on the Wednesday prior to send date
Re TFT and others like it – Had a millennial friend who treated it like a video game. Can’t trade but thinks he can, bitcoin will erase the US Dollar by end of 2030, little ears for professionals who have been around a while, won’t shut up about it. Message to novices out there…this isn’t a game. Use your head a bit better and it might turn out ok.
Another Prop Firm Collapse! – The Funded Trader Shuts Down.
Rumors have been swirling through the prop industry for weeks the TFT has been in trouble. N ow it seems that another one has shut down.
See this video explaining the situation and more from Lux Trading Firm (if the video shuts off because of the forum refresh, click on it again and move the video to the spot you left off). It is worth viewing.
USDJPY 4 hour chart – Intervention of not?
Range is very clear 151.00-151.97 but next week is a new ball game.
There seems no compelling reason to intervene as verbal intervention has so far cooled threat but noit negated the threat to 152 and higher.
If they are serious about squeezing the USDJPY longs, then breaks of 151.00/0/trendline/150.26 (and 150.00) would be needed.
WASHINGTON, March 29 (Reuters) – The latest U.S. inflation data is “along the lines of what we would like to see,” Federal Reserve Chair Jerome Powell said on Friday in comments that appeared to keep the central bank’s baseline for interest rate cuts this year intact.
US February inflation data ‘along the lines’ of what Fed wants, Powell says
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