EUR/USD Mowing Upwards
#market_pulse #currencies
☕️ Hello everyone! Here’s your essential market update for today:
Dollar dented by cooler US inflation, yen fragile ahead of BOJ
▫️ Euro (EUR): The euro advanced 0.6% overnight, punching above its 200-day moving average to last buy $1.0804.
▫️ Australian Dollar (AUD): The Aussie dollar was at $0.6647, after rising above $0.67 overnight.
▫️ New Zealand Dollar (NZD): The New Zealand dollar leapt to a five-month high above $0.62 before settling at $0.6170.
▫️ Japanese Yen (JPY): The yen was down by about 0.2%, trading at 157.08 to the dollar, ahead of the Bank of Japan meeting. The yen remains vulnerable as expectations grow for an announcement on bond purchases.
▫️ Pound Sterling (GBP): Sterling rose 0.5% overnight to $1.2798 but was slightly lower as European markets opened.
▫️ Chinese Yuan (CNY): China’s yuan was steady at 7.2660 in offshore trade, gaining slightly on the dollar overnight.
🏂 Market Dynamics:
Gains in major currencies were more substantial immediately after the U.S. inflation report showed flat consumer prices in May against market expectations of a 0.1% rise.
The Federal Reserve left the funds rate on hold at 5.25-5.5% with projections for fewer rate cuts this year, impacting the dollar.
Despite the Fed's stance, markets still price in nearly two 25-basis-point rate cuts this year.
🔍Key Insights:
Fed Chair Jerome Powell emphasized sensitivity to economic data, with projections for rate cuts possibly in 2025 or 2026.
The yen struggles against downward momentum due to the significant gap between near-zero Japanese rates and higher U.S. rates.
Market expectations for the BOJ's policy meeting include potential adjustments to bond purchases, leaving the yen susceptible to disappointment if changes fall short.
👋Stay tuned for more updates and happy trading!
💵💵💵
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☕️ Hello everyone! Here’s your essential market update for today:
Dollar dented by cooler US inflation, yen fragile ahead of BOJ
▫️ Euro (EUR): The euro advanced 0.6% overnight, punching above its 200-day moving average to last buy $1.0804.
▫️ Australian Dollar (AUD): The Aussie dollar was at $0.6647, after rising above $0.67 overnight.
▫️ New Zealand Dollar (NZD): The New Zealand dollar leapt to a five-month high above $0.62 before settling at $0.6170.
▫️ Japanese Yen (JPY): The yen was down by about 0.2%, trading at 157.08 to the dollar, ahead of the Bank of Japan meeting. The yen remains vulnerable as expectations grow for an announcement on bond purchases.
▫️ Pound Sterling (GBP): Sterling rose 0.5% overnight to $1.2798 but was slightly lower as European markets opened.
▫️ Chinese Yuan (CNY): China’s yuan was steady at 7.2660 in offshore trade, gaining slightly on the dollar overnight.
🏂 Market Dynamics:
Gains in major currencies were more substantial immediately after the U.S. inflation report showed flat consumer prices in May against market expectations of a 0.1% rise.
The Federal Reserve left the funds rate on hold at 5.25-5.5% with projections for fewer rate cuts this year, impacting the dollar.
Despite the Fed's stance, markets still price in nearly two 25-basis-point rate cuts this year.
🔍Key Insights:
Fed Chair Jerome Powell emphasized sensitivity to economic data, with projections for rate cuts possibly in 2025 or 2026.
The yen struggles against downward momentum due to the significant gap between near-zero Japanese rates and higher U.S. rates.
Market expectations for the BOJ's policy meeting include potential adjustments to bond purchases, leaving the yen susceptible to disappointment if changes fall short.
👋Stay tuned for more updates and happy trading!
💵💵💵
GET $20,000 JUST FOR $99 *** PERFECT20 (promo code)
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