The GBP/JPY cross experienced a boost as it attracted dip-buying near the 190.85-190.80 region following the release of upbeat UK Services PMI data. The flash UK Services PMI rose to 54.9 in April, exceeding the previous month’s final reading of 53.1. This positive data gave the British Pound (GBP) a good lift, leading to an
The Japanese Yen (JPY) has been the center of attention recently, with speculations about a possible government intervention in the markets by Japanese authorities. This intervention is seen as a key factor lending some support to the JPY, which has been hovering at a fresh 34-year low. However, despite the possibility of intervention, any significant
Gold prices recently experienced a downside correction from the high of $2,430, marking a shift in the market trend. The price dipped below a key bullish trend line, breaking the support level at $2,375 on the 4-hour chart. This correction was further confirmed as the price fell below the 23.6% Fib retracement level from the
Japanese Finance Minister Shunichi Suzuki recently made some statements regarding foreign exchange moves. He stated that the Japanese government is prepared to respond appropriately to excessive FX moves, indicating a high level of vigilance in monitoring such movements. Suzuki emphasized that he will not comment on the current FX moves directly but assured that the
The U.S. Treasury yields have seen an increase as investors eagerly anticipate the release of crucial economic indicators that could provide valuable insights into the economy and potential changes in interest rates. Specifically, the 10-year yield has risen by more than two basis points to 4.6414%, while the 2-year yield has experienced a similar uptick.
Visa Inc. (V) is currently experiencing a corrective counter-trend phase, characterized by a ZigZag structure identified as Intermediate wave (4). The direction indicates a potential bottoming out in wave (4). The analysis suggests that there may be an Intermediate wave (3) completion, given the correction’s magnitude aligning with a wave (2) of the same degree.
China’s data-driven quant trading funds are rapidly expanding overseas as competition intensifies domestically and regulators increase scrutiny over the $260 billion sector. Meridian & Saturn Capital (MS Capital) and DH Fund Management are among the firms branching out internationally, offering their strategies to offshore investors and venturing into global markets. The move comes as Chinese
EURJPY is currently showing signs of bullish momentum, with the bulls on the verge of testing the recent high of 165.34. Despite this, there is a looming threat of intervention which is limiting the aggressive bullish appetite in the market. The ongoing verbal commentary from Japanese officials and the upcoming BoJ meeting, coupled with dovish
Over the past few years, the once lucrative business prospects in China that attracted Western financial firms have taken a downturn. Previously seen as a key piece of their global growth strategy, many firms are now facing challenges as doubts grow about China’s economic recovery and its markets lag behind their global peers. This shift