USD/JPY Price Outlook: Yen Weakness Gathers Pace, Teasing FX Intervention
A safe haven boost and better-than-expected US retail sales data added pressure on the beleaguered yen, sending USD/JPY just shy of 155.00 – a level of interest to authorities
A safe haven boost and better-than-expected US retail sales data added pressure on the beleaguered yen, sending USD/JPY just shy of 155.00 – a level of interest to authorities
News sources are reporting that multiple issuers have been given approval to launch spot Bitcoin and Ethereum ETFs in Hong Kong.
Outlook on FTSE 100, DAX 40 and Nasdaq 100 amid escalating tensions in the Middle East alongside US Q1 earnings season.
The Aussie dollar typically acts as a sentiment gauge, following the S&P 500. Risks of a broader conflict in the Middle East and policy divergences keep AUD on the back foot
The US dollar powered ahead in the second half of the week after the latest CPI reading showed US nudging higher.
Gold climbed this week, setting a new all-time high near $2,430. However, prices eventually backed off those levels, closing near $2,345 on Friday.
The euro suffered a major setback this week, primarily against the U.S. dollar. The European Central Bank's dovish guidance laid the groundwork for the common currency's downturn, but rising geopolitical risks in the Middle East also weighed.
Contrasting data in the US and Europe highlights the need for policy divergence between the Fed and European Central Bank – weighing on EUR/USD
The US dollar index opens higher in Europe, aided by a weak Euro, and is back at highs seen last November. Gold is unfazed by US dollar strength and continues to print new highs.
The prospect of the ECB starting its easing cycle before the Federal Reserve and the Bank of England and delivering more rate cuts than both institutions this year may put downward pressure on the euro against the U.S. dollar and sterling in the near term.