USDJPY
To be able to continue to the new highs , Yen has to close above 150.200 tonight ( any close above 150.000 awakens the attention )
Otherwise, the risk is to the downside, with the first support at 149.550, followed by 148.500
It might all come to the USA Data tomorrow– Economic Calendar
From our friends @GTWO3 : March Euro futures are bullish under 107.50; the decline from 12/28 high has been long liquidation rather than new selling.
I am on record that the bond market is THE king
Looking at the prancing since last Fr’s reaction to CPI (notably most CB’s now singing from the same ‘dependant on incoming data’ page in the hymn book) – 4.15 to 4.3320 and current approx 4.20 off the peak suggests players would love to place directional bet BUT … are unsure currently.
Imo IF I had to go out on the limb I d say the next direction (for yield) will be prudent tentative down.
fwiw re today’s yakkers: both are voters (if it means anything)
9:30 ny
DLRx 104.19 (somewhat down a bit) / 10-yr 4.212 / euro 1.0780
observation: dlryen and us yield appear correlated
Looks like players are not done selling the dlr just yet
—-
13:15 – fed’s waller yaks – on dlr’s int’l role (hello janet, hello putin)
19:00 – bostics yaks on outlook and policy (yeah !, lol)
interest policy at fault and to blame ?
–
* For the whole of 2023, Japan’s nominal GDP grew 5.7% over 2023 to come in at 591.48 trillion yen, or $4.2 trillion based on the average exchange rate in 2023.
* Germany on the other hand, saw its nominal GDP grow 6.3% to reach 4.12 trillion euros, or $4.46 trillion based on last year’s average exchange rate.
Japan is no longer the world’s third-largest economy as it slips into recession
© 2024 Global View