The US Bureau of Labor Statistics will release its Consumer Price Index and many other critical events that will move the market this week!
BOJ: More Interventions Are Coming
Important events for today:
15:15 GMT+3 - ECB - Monetary Policy Statement
15:30 GMT+3 - US - Advanced GDP q/q
15:45 GMT+3 - ECB - Press Conference
More interventions might be coming for the Japanese Yen
Bank of Japan is expected to stick with its super-easy policy on Friday, increasing market bets on further currency intervention. Experts look forward to a rally in the Japanese yen, at least in the short term. Traders are well aware of what happened in the September meeting when the yen extended losses during Kuroda’s media briefing and sparked after the intervention.
GBPJPY is consolidating above the blue support trend line. If the price bounces off, we expect the pair to move higher toward 171.50 and 174.90. However, as soon as the breakout happens, the pair might start moving toward the 167.00 - 167.60 support range.
- DOGE trading volumes and large transactions spike ahead of Musk deal close. Musk has previously said he's considering introducing DOGE payments on Twitter if he buys the social network.
- The head of the Central Bank of Canada highlighted a significant economic slowdown, but rate hikes are still ongoing. The Central Bank of Canada increased the rate by 50 basis points instead of the 75 expected.
- Facebook profits halved. As a result, Meta stock hit the lowest price in over six years.
- Goldman Sachs allowed the S&P 500 to collapse by another 25%.
- After a massive rally, EURUSD reached the 100-day moving average. Some correction might happen after five green day candles in a row.
Before Joe Biden sat face-to-face with Xi Jinping on Monday night at a seaside resort in Bali, US officials played down hopes for tangible progress. The outcome easily exceeded those low expectations.
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