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The USD/JPY edges higher on Tuesday, rising nearly 0.25% as risk appetite deteriorated late in the New York session, even though the US President Donald Trump hinted a de-escalation of the conflict. At the time of writing the pair trades at 158.07 some 80 pips above its opening price.USD/JPY Price Forecast: Technical outlookThe technical picture is slightly bearish with the USD/JPY registering a shooting star candle on Monday. Although Tuesday’s price action formed a bullish candle, revealed that sellers drove prices to a three-day low of 157.27, which opens the door for further downside.The Relative Strength Index (RSI) shows that…
Novo Nordisk on Tuesday received a broker downgrade, with the analysts arguing that its status as a duopoly in both diabetes and weight loss are under threat.
China’s Trade Balance for January-February, in Chinese Yuan (CNY) terms, arrived at CNY1.5 trillion, widening from the previous figure of CNY808.80 billion.Exports climbed 19.2% YoY in January-February vs. 5.2% in December. The country’s imports rose 17.10% YoY in the same period vs. 4.4% recorded previously.In US Dollar (USD) terms, China’s Trade Surplus expanded more than expected in January-February.Trade Balance arrived at +213.62B versus +179.60B expected and +114.10B prior.Exports (YoY): 21.8% vs. 7.1% expected and 6.6% last.Imports (YoY): 19.8% vs. 6.3% expected and 5.7% previous.Market reaction to China’s Trade BalanceAUD/USD holds losses around 0.7055 in an immediate reaction to the Chinese trade data. The pair…
“My low salary requires me to have multiple other part-time jobs.”
MUFG’s Senior Currency Analyst Lee Hardman notes that the surge in Oil prices linked to the Middle East conflict is reinforcing US Dollar strength, especially versus high-yielding emerging market currencies. He highlights that weaker US labour data would normally weigh on the Dollar, but the energy shock and hawkish repricing in rates are instead supporting USD within its 96.000–100.00 index range.Oil-driven risk backdrop underpins Dollar”The US dollar has continued to strengthen against other major currencies with the dollar index moving towards the top of the 96.000 to 100.00 trading range that has been in place since Q2 of last year.””US…
The findings have been tested in the real world.
During an address broadcast by Iranian state TV, President Masoud Pezeshkian apologised to the neighbouring countries for attacks launched following US-Israel strikes but asserted that Tehran will not strike “unless they attack first”.Key quotesI must apologise on my own behalf and on behalf of Iran to the neighbouring countries that were attacked by Iran.The interim leadership council agreed yesterday that no more attacks will be made on neighbouring countries and no missiles will be fired unless an attack on Iran originates from those countries.Tehran would “not surrender” to US President Donald Trump’s demands of “unconditional surrender”.The comments come after Iran launched attacks…
“He has no loyalty to me or our vows.”
Highlights include US and China inflation, UK GDP, China Trade and CBRT UK GDP Growth MON: Eurogroup Meeting, Chinese Inflation (Feb), Japanese GDP Final (Q4),Japanese Average Cash Earnings (Jan) TUE: EIA STEO, Chinese Trade Balance (Jan-Feb), German Trade Balance (Jan) WED: OPEC MOMR, US CPI (Feb) THU: CBRT Policy Announcement, IEA OMR,US PPI (Feb) FRI: UK GDP (Jan), US PCE (Jan), US GDP 2nd Est (Q4), US JOLTS (Jan), Fitch on Italy & Spain, Moody’s on Germany & Greece CHINESE INFLATION (MON): February CPI is expected to rebound modestly to around 0.4-0.5% Y/Y (prev. 0.2%), with the M/M reading seen…
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