U.S Equity Market Hit By Fed’s Hawkish Stance
The U.S. dollar remains steadfast above the $105 mark, while the domestic stock market experienced turbulence after the recent Fed Chair's statement.
AUDJPY, AUDUSD, EURGBP, EURJPY, EURUSD, GBPJPY, GBPUSD, NZDJPY, NZDUSD, USDCAD, USDCHF, USDJPY, USD Index, Gold, & S&P 500
Watch the video for the key trading levels for AUDJPY, AUDUSD, EURGBP, EURJPY, EURUSD, GBPJPY, GBPUSD, NZDJPY, NZDUSD, USDCAD, USDCHF, USDJPY, USD Index, Gold, and S&P 500.
Luca Santos, Technical Analyst at ACY Securities, brings breaking news in the trading world regarding the sudden plummet of USD/JPY. In a rapid 100-pip downward movement observed overnight, Santos delves into the underlying reasons behind this significant decline.
The Dollar plummeted against the Japanese Yen to 143.45 in late New York after the Bank of Japan signaled that it would scrap its negative interest rate regime this month. The Japanese currency strengthened against all Rivals but most against the US Dollar. A popular gauge of the Greenback’s value against a basket of 6 major currencies, the Dollar Index (DXY) fell to 103.55 from 104.05 yesterday.
The recent surge in the strength of the yen has led to a noteworthy decline in the USD/JPY pair, breaching the crucial 146.00-level and breaking below the support established by the low on December 4th, recorded at 146.23.
The Japanese Yen staged a robust rally in the previous session, leading to a substantial 2% drop in the USD/JPY pair overnight. This surge in the Yen's value was significantly influenced by statements from BoJ Governor Kazuo Ueda following discussions with the Japanese Prime Minister.
PU Prime | 2 days ago
The recent rebound of the US dollar over the past four trading days serves as a reminder that foreign exchange rates are relative, influenced by various factors. Although there's compelling evidence suggesting that the Federal Reserve's tightening cycle has concluded and the labour market may be slowing, similar indicators are emerging elsewhere.
ACY Securities | 3 days ago