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Day by day Foreign exchange Information and Watchlist: USD/JPY


The Japanese yen is discovering some help amidst threats of foreign money intervention from Japan!

How will in the present day’s themes have an effect on USD/JPY’s short-term consolidation?

Earlier than transferring on, ICYMI, yesterday’s watchlist checked out AUD/JPY’s consolidation forward of the BOJ’s core CPI report. Ensure to take a look at if it’s nonetheless a sound play!

And now for the headlines that rocked the markets within the final buying and selling periods:

Contemporary Market Headlines & Financial Knowledge:

In a panel interview, FOMC voting member Raphael Bostic repeated his expectation of 1 rate of interest lower this yr

In an interview, FOMC voting member Lisa Cook dinner shared her desire for a “cautious strategy” to coverage changes

U.S. new residence gross sales for February: 662K (675K forecast, 664K earlier)

Westpac: Australia’s shopper sentiment index dipped by 1.8% in March (vs. 6.2% acquire in February) on easing RBA price lower bets and renewed considerations for the near-term financial outlook

China’s PBOC shifted its USD/CNY repair 1% larger at 7.0943 and marked the most important adjustment since January

Japan’s companies producer worth index rose by one other 2.1% y/y as anticipated in February

BOJ’s measure of underlying inflation got here in at 2.3% y/y in February (2.5% y/y forecast, 2.6% in January)

Germany’s GfK shopper local weather improved barely from -28.8 to -27.4 in March; “The excessive diploma of shopper uncertainty, paired with low confidence in Germany’s financial growth, is holding again the willingness to purchase

Value Motion Information

Overlay of CHF vs. Major Currencies

Overlay of CHF vs. Main Currencies Chart by TradingView

With not a whole lot of contemporary catalysts within the markets, the Swiss franc prolonged a downswing that began from final week’s shock SNB rate of interest lower.

It additionally didn’t assist the protected haven that merchants have been cautiously optimistic forward of this week’s anticipated information releases just like the U.S. core PCE report.

CHF is within the pink throughout the board and is buying and selling the weakest in opposition to NZD, AUD, and GBP. It’s additionally registering the least losses in opposition to fellow protected havens like USD and JPY.

Upcoming Potential Catalysts on the Financial Calendar:

U.S. core sturdy items orders at 12:30 pm GMT
U.S. S&P home worth index at 1:00 pm GMT
U.S. CB shopper confidence at 2:00 pm GMT
U.S. Richmond manufacturing index at 2:00 pm GMT
Australia’s MI main index at 11:30 pm GMT
Australia’s CPI report at 12:30 am GMT (Mar 27)

Use our new Foreign money Warmth Map to rapidly see a visible overview of the foreign exchange market’s worth motion!  ️

USD/JPY 15-min Forex

USD/JPY 15-min Foreign exchange Chart by TradingView

I don’t know should you’re watching main JPY pairs however USD/JPY bulls and bears are locked in a short-term tug-o-pips!

Relying on how far you’re wanting, USD/JPY might be consolidating in a symmetrical triangle or a possible bullish pennant sample within the 15-minute time-frame.

A technical breakout could also be on the desk within the subsequent buying and selling periods when the U.S. prints its core sturdy items orders. And if USD/JPY sees an upside breakout first, then there will probably be elevated odds of a foreign money intervention by Japanese officers.

What do you suppose? Which method will USD/JPY commerce for the remainder of the week?

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