It certainly is an ambitious goal and one that will at least help boost the wage dynamics in Japan, which have been rather depressed over the last two decades. For some context, in 2022, minimum wages in Japan averaged to around ¥961 per hour and that already...
GBPUSD Forex Analysis – Downtrend Continuation Pattern Forming
Join Senior Market Strategist & Trading Mentor Duncan Cooper as he watches price levels on the GBPUSD daily and 4-hour charts.Price has rallied back to the 79% fib retracement level of the daily range.1.2745 the 79% fib retracement level.Watching for price to...
AUDUSD Forex Analysis – Retest & Failure At 0.6500 Level
Join Senior Market Strategist & Trading Mentor Duncan Cooper as he watches price levels on the AUDUSD daily and 15-minute charts.Price has rallied back to the 0.6500 level.0.6490 - 0.6500 the daily resistance level and the Figure.Watching for price to rally and...
S&P 500 Technical Analysis – The risk of a reversal is high
This first half of the week was highlighted by big misses in the US economic data like Job Openings, Consumer Confidence and ADP. These might be the first signs that a recession is indeed on the horizon as the labour market is starting to show weakness. In fact, the...
Fed Rate Hike Expectations Sensitive to Jobs Data
USD: Price action highlights potential for turnaroundAfter reaching a low of 4.73% on August 10th, the UST 2-year note yield has steadily climbed, hitting a peak of 5.10% on the following Monday. This translates to a 37-basis point increase in the 2-year yield over...
China’s major state-owned banks reportedly seen selling dollars in onshore spot FX market
It is being reported by Reuters that China's major state-owned banks were seen swapping yuan for US dollars in the forward market and then selling those dollars in the spot market today. This has been an ongoing thing all through August trading and it isn't too...
Invest Smarter with Copy Trading: Kwakol Markets Puts Expertise at Your Fingertips
Kwakol Markets is a multi-asset broker that operates globally, with its headquarters based in Nigeria. The company offers a comprehensive range of financial products and services to traders from all around the world seeking to access a diverse range of markets and...
Germany August unemployment change 18k vs 10k expected
Prior -4kUnemployment rate 5.7% vs 5.7% expectedPrior 5.6%German unemployment rose more than expected in August, albeit slightly. The number of people out of work increased by ~18k to 2.63 million with the jobless rate ticking a little higher to 5.7% on the month. I'd...
BOE’s Pill: No room for complacency on inflation
We need to see the job through on inflationWe need to ensure we do enough on policyBut there is the possibility of doing too much in the fight against inflationPolicy needs to be sufficiently restrictive for long enoughFor the BOE, they need to be wary about the...
ECB rate hike bets trimmed in volatile start to the session
It nudged up to a high of around ~60% earlier after the French inflation numbers but was quickly dragged back down and Schnabel's indecisive comments here are also not really helping with confidence about another rate hike. It's a volatile one to start the day but at...
Fed’s Bostic: Monetary policy is appropriately restrictive
Inflation is still too highWe should be cautious, patient, resolutePolicy is restrictive enough to bring inflation to 2% in a reasonable timeframeI am not for easing policy any time soonShould inflation unexpectedly climb, I would support more tighteningHe doesn't...
ECB’s Schnabel: We cannot predict where the peak rate is going to be
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
A mixed open for European indices today
Eurostoxx -0.1%Germany DAX +0.1%France CAC 40 -0.1%UK FTSE -0.1%Spain IBEX +0.1%This comes as US futures are also little changed on the day but there is some back and forth action on ECB pricing. Despite the hotter French inflation numbers here, we are actually seeing...
Dow Jones Technical Analysis – Key area in sight
This first half of the week was highlighted by big misses in the US economic data like Job Openings, Consumer Confidence and ADP. These might be the first signs that a recession is indeed on the horizon as the labour market is starting to show weakness. In fact, the...
France August preliminary CPI +4.8% vs +4.6% y/y expected
Prior +4.3%HICP +5.7% vs +5.4% y/y expectedPrior +5.1%Uh oh. Inflation dynamics in France are proving to be more stubborn than anticipated and the rise here is surely going to lead to the bettors pricing in a stronger likelihood of a rate hike by the ECB for next...
France Q2 final GDP +0.5% vs +0.5% q/q prelim
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Germany July retail sales -0.8% vs +0.3% m/m expected
Prior -0.8%Retail sales -2.2% vs -1.0% y/y expectedPrior -1.6%Consumption activity in Germany continues to be hurt by high inflation mostly. And this is not a good look for the economy especially with a manufacturing recession and now the services sector flipping over...
Russell 2000 Technical Analysis – We are at a key resistance
This first half of the week was highlighted by big misses in the US economic data like Job Openings, Consumer Confidence and ADP. These might be the first signs that a recession is indeed on the horizon as the labour market is starting to show weakness. In fact, the...
BOJ’s Nakamura: Monetary policy does not target FX
FX moves have big impact on pricesBOJ closely watching impact on yen moves on the economy, pricesWeak yen benefits exports, tourism but is negative for domestic-driven firms and householdsDecision on when to end negative rates depends on economic developmentsIf Japan...
FX option expiries for 31 August 10am New York cut
There isn't any significant expiries to take note of for the day. As such, trading sentiment will rely more on the broader market mood. And in that lieu, a lot will hinge once again on US data as outlined here.For more information on how to use this data, you may...