Reply to thread

Message: [QUOTE="Zerologic, post: 240200, member: 126754"] [ATTACH type="full"]30997[/ATTACH] The weakening of the Japanese Yen slowed slightly as wage data spurred speculation of an interest rate hike in January Yesterday the USDJPY pair drew a small bearish candle with a slight shadow at the bottom of the candle. Price formed a high of 158,399, a low of 157,574, and a close of 158,111 on FXOpen. The position of the Japanese Yen strengthened slightly on Thursday after breaking through 158,550. The strengthening of the Japanese Yen is suspected because the Average cash earnings of Japanese wage data read stronger than expected for November. This gave rise to opinions that spurred speculation of an interest rate increase in January. BOJ Governor Kazuo Ueda previously signaled that they would hold wage negotiations in March before deciding on an increase. But ING analysts said the case was growing for a hike in January, although it would still be a tough call. Meanwhile, yesterday's FOMC minutes showed that policymakers were increasingly aiming for a slower pace of interest rate cuts in 2025. This was due to concerns that President Donald Trump's expansionary policies could potentially support inflation. According to the CME Group's Fedwatch tool, the Fed's probability of leaving interest rates unchanged is 93.1% at its January 29, 2025 meeting. In the other hand, the dollar index (DXY) which tracks the USD currency against six major currencies rose slightly from a low of 106,940 to a high of 109,375. Today investors will pay attention to US news data on Average Hourly Earnings, Non-Farm Employment Change, and Unemployment Rate. [/QUOTE]

Verification

Top Bottom