The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
BOJ Kuroda’s assured inflation will accelerate considerably
Haruhiko Kuroda, Bank of Japan Governor told that he’s assured that inflation is going to considerably accelerate with huge monetary stimulus as well as fiscal support, as CNBC informed on Friday.
Evidently, the mindset of the Japanese public is still cautious enough as for inflation expectations. Nevertheless, Kuroda doesn’t doubt that with ongoing accommodative monetary policy underpinned by fiscal policy, the Japanese authorities would eventually be capable of lifting prices considerably. That’s what Kuroda disclosed in his interview on Friday.
Aside from that, Kuroda told that Japan's economy has demonstrated a strong revival trend for the last two quarters that will help to narrow the output gap. It will also tighten the labor market and also spur inflation to 2%.
Kuroda’s currently in Yokohama, eastern Japan, planning to meet financial leaders gathering specially for the Asian Development Bank's annual gatherings.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…