A look at the day ahead in U.S. and global markets from Mike Dolan
Wall Street’s best day of the year so far was rooted in inflation relief and a boom in bank stocks reporting bumper earnings, with a retail readout up next on Thursday.
After Tuesday’s sub-forecast producer price data, the December consumer price index also surprised and the annual ‘core’ CPI inflation rate showed disinflation resumin
European equities lifted by Tech/Luxury updates, JPY bid as BoJ hike bets mount, US Retail Sales due
Good morning USA traders, hope your day is off to a great start! Here are the top 4 things you need to know for today’s market.
4 Things You Need to Know
European bourses opened on a strong footing and remain at highs, with Tech and Luxury among top performers; US futures mixed whilst NQ leads.
USD mixed vs. peers, JPY leads as BoJ hike bets mount after reports noted that BoJ is said to see a good chance of a January rate hike barring a major market rout, following Trump’s inauguration.
Gilts gap lower despite soft GDP, USTs await data and Treasury Secretary nominee Bessent’s confirmation hearing.
Crude takes a breather while base metals cheer risk appetite.
This blog article is worth revisiting as JPY crosses have been a driver today
Markets are like a river flowing downstream constantly looking for the path of least resistance. When it finds a clear path the pace of flow accelerates. This is a way to look at trading…
USDJPY 1 HOUR CHART –  BoJ Rate Hike Back on the Table
Selling ahead of the BoJ meeting next week, where a rate hike risk is back on the table, is again weighing on USDJPY and boosting the JPY on its crosses.
This chart, however, shows potential for a bottom today BUT ONLY IF it can stay above 155.60.
Otherwise, using 155-158 as a range puts 156.50 as the midpoint with a sEll bias while below it.
Daily chart shows a void until 153.15 if it stays below 156.