The Japanese Yen continues to strengthen, with the USD.JPY currency pair trading below ¥141, calling into question its long-term bullish trend.
➡️ In the Forex market, the spotlight is on the USD/JPY currency pair as the Japanese Yen continues its multi-day streak of getting stronger, with the Yen the strongest major currency so far today and the US Dollar the weakest. USD/JPY is now trading well below ¥141, which calls into question the long-term bullish trend as the price now appears to have broken below a very fundamental support area near that round number.
➡️ The GBP/USD currency pair is also interesting today as it continues to break to new long-term highs and show bullish momentum. GBP/USD is now trading at a 15-month high near $1.2900.
➡️ Stock markets are higher on positive Chinese real estate outlook. Most global stock markets are trading higher, especially in Asia, where the Hang Seng Index has risen above 1.25% on the day so far.
➡️ Bitcoin remains below what appears to be a very crucial round number at $31k, with the price action now looking more uncertain, suggesting that a bullish breakout may not be likely.
➡️ US short-term inflation expectations have fallen to a 2-year low, but there is still an extremely strong consensus expectation that the US Federal Reserve will raise rates by 25 bps at its next policy meeting .
➡️ The NASDAQ 100 Index will be rebalanced to reduce its very high level of concentration, with just 6 companies currently accounting for half the weighting.
➡️ There will be a release of UK jobless claims data later today.
➡️ The Reserve Bank of New Zealand will hold a policy meeting early tomorrow, where it is not expected to change its policy rate.
Credit by DailyForex.com