Speculative, rapid and abnormal FX moves have had bad impact on the economySuch moves are unacceptableNo specific level in mind on an appropriate level for exchange rateWill only disclose if there was FX intervention at the end of MayThey will only report it every four weeks, so the next round of data will not feature today's flows. As such, we'll have to wait until the end of next month when the BOJ/MOF releases it. USD/JPY is still trading down 1.5% on the day at 155.85, but at least off its...
The drop earlier had all the hallmarks of a BOJ/MOF intervention but so far, USD/JPY buyers are not throwing in the towel just yet. The low hit 155.05 and that called into question some key near-term levels. And for now, both the 100 (red line) and 200-hour (blue line) moving averages are being held:It points to the near-term bias still being more bullish but I would caution that the price action dynamics have certainly changed. Apart from the technicals, the psychological aspect is also very...
Japan will be on holidays, with market closures, on :Monday 29 April 2024Friday, May 3Monday, May 6USD/JPY traded above 158.00 on Friday during US time. It has obliterated all the purported 'lines in the sand' we've been hearing about from people that really should know better. The next one to be trumpeted should be 160. I posted this, I hope it helped:Stop with the USD/JPY Numberwang intervention level guesses - do this insteadAs recently as late last week we had Japan's Finance Minister Suzuki...
UPS reported earnings earlier today and there are some read-throughs on the strength of the economy.The company reported a 3.2% decline in average daily volumes in its domestic segment and a 5.8% drop in its international segment in the quarter. However the company said volumes “showed improvement through the quarter”.The world's largest parcel delivery firm is a barometer of economic activity. Overall revenues at $21.7 billion were below $21.9 billion expected and $22.9 billion a year ago.The...
I am eyeing Tesla stock before tommorow's earnings report, and starting to