BofA's quant models indicate a mixed near-term outlook for the dollar
BofA's quant models indicate a mixed near-term outlook for the dollar
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BofA's quant models indicate a mixed near-term outlook for the dollar
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Very Quiet Start to Week with U.S. and U.K. Shut for Holidays May 27, 2024 Americans are observing their Memorial Day holiday, while British markets are shut for the late spring bank holiday. Minimal data have been released elsewhere. The dollar edged 0.1% lower overnight against the euro, yen, loonie, Swiss franc, sterling and as…
China considers allowing yuan-backed stablecoins to boost currency – Reuters Source link
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USDJPY: As anticipated, the Bank of Japan has opted to maintain its short-term rate target within the 0.15-0.25 per cent range following the conclusion of its two-day monetary policy review meeting on Friday. The BOJ maintains a cautious approach to raising rates, as it believes this could negatively impact economic activity and hinder the demand-driven…
USD/JPY’s rise from 139.87 resumed by breaking through 157.88 last week. Initial bias stays on the upside this week for 161.8% projection of 142.66 to 150.90 from 145.47 at 158.80. Firm break there will pave the way to 200% projection at 161.95, which is close to 161.94 high. For now, outlook will stay bullish as…
EUR/USD price analysis remains range-bound despite eased US-EU tensions over Greenland. The Fed’s patience and the ECB’s growth concerns continue to weigh on the euro. Markets await US initial jobless claims, Core PCE, and GDP data for directional bias. EUR/USD traded around 1.1685 on Thursday after bouncing 0.3% on Wednesday. However, the pair remains stuck…