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.
More Japan households expect inflation to edge up
The overall percentage of Japan’s households expecting inflation to step up has hit an almost two-year maximum, as a major bank poll disclosed, giving some hope that economic revival will help the BOJ to meet its elusive 2% price objective.
However, more households complained about being worse off than in 2016 because soaring prices made them spur spending, as the survey disclosed, thus underscoring the challenge policymakers face in stimulating inflation without affecting consumption.
The BOJ's poll on customers’ livelihood revealed that the percentage of households, expecting prices to edge up a year from 2018, hit 75.6% in December, adding from 70.4% in September and demonstrating the highest outcome since March 2016.
Among the polled Japanese households, approximately 81.9% told they actually expect inflation to pick up five years from 2018, moderately from 81.4% in September.
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…