Month: January 2023

The Canadian dollar steadied after inflation eased more than expected in December. From the daily chart’s perspective, the pair is still in a prolonged consolidation between 1.3230 and 1.3800. A bounce off the daily support Read more…

Markets Bond yields on both sides of the Atlantic rose a few basis points before separate news reports killed off the advance abruptly. The culprit in the US was an awful Empire manufacturing, plunging to Read more…

At the post meeting press conference, BoJ Governor Haruhiko Kuroda said, “We don’t need to further expand the band around our yield target…. It’s been not long since we decided on our measures in December. Read more…

UK CPI rose 0.4% mom in December, matched expectations. In the 12 months, CPI slowed from 10.7% yoy to 10.5% yoy slightly below expectation of 10.6% yoy. CPI core was unchanged at 6.3% yoy, below Read more…

At their January 2023 meeting, the BOJ: Held interest rates at -0.1% Maintained a target for 10-year JGB at ‘around’ 0% (with +/- 0.5% band) Members voted unanimously to hold policy Played cards (unconfirmed) Outlook Read more…

The Bank of Japan (BoJ) kept its below-zero interest rate and its faltering yield curve control policy unchanged. No-action sent the Japanese 10-year yield tumbling by up to 14 bp – that’s almost a 30% Read more…

Market movers today Today’s focus will be on hard data from the US as we get the December PPI, retail sales and industrial production. Retail sales is the most important number, as it will be Read more…

USD/JPY: Looking at the Daily chart, my overall bias for USDJPY is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. To add confluence to this bias, price is Read more…

Daily Pivots: (S1) 156.57; (P) 157.30; (R1) 158.22; More… GBP/JPY’s break of 161.22 resistance suggests short term bottoming at 155.33. Intraday bias is back on the upside. Sustained trading above 55 day EMA (now at Read more…