USD ignores softer Tokyo CPI with focus on spreads & US PCE – Scotiabank
Source Fxstreet
The Japanese Yen (JPY) is trading defensively in an environment of broad-based USD strength, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
JPY remains steady on the day
"Risk is elevated into the US PCE release, as the outlook for relative central bank policy continues to dominate. The overnight release of softer Tokyo CPI data appears to have had little impact in terms of price action, and comments from the BoJ remain hawkish with minutes from the July meeting signaling a desire to end the bank’s ‘wait and see mode’."
"For USDJPY, we look to near-term resistance around 150 and the August 1 high just below 151.00."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin experienced volatile trading on Friday, sliding close to $111,000 as investors awaited critical U.S.
The U.S. dollar edged higher Tuesday, stabilizing after a slide to seven-week lows as traders looked ahead to key labor and inflation data expected to lock in a Federal Reserve rate cut next week.
ANZ Raises Gold Price Forecast to $3,800/Oz, Predicts Rally to Continue Through 2026Gold is expected to continue its upward momentum throughout 2025 and into early 2026, driven by ongoing geopolitical tensions, macroeconomic challenges, and market anticipation of U.S. monetary easing, according to analysts from ANZ in a research note released Wednesday.
Gold is expected to continue its upward momentum throughout 2025 and into early 2026, driven by ongoing geopolitical tensions, macroeconomic challenges, and market anticipation of U.S. monetary easing, according to analysts from ANZ in a research note released Wednesday.
Barclays Boosts S&P 500 Outlook Amid Strong AI-Driven EarningsBarclays has increased its earnings and price projections for the S&P 500 through 2025 and 2026, attributing the upgrade to stronger-than-anticipated corporate results in the first half of the year and a robust earnings landscape despite trade tensions and labor challenges.
Barclays has increased its earnings and price projections for the S&P 500 through 2025 and 2026, attributing the upgrade to stronger-than-anticipated corporate results in the first half of the year and a robust earnings landscape despite trade tensions and labor challenges.
Oil prices climbed further on Monday as markets reacted to Ukrainian drone strikes targeting Russian refinery infrastructure, raising concerns over potential disruptions to Russia’s crude and fuel exports.
Related Instrument
