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Here’s 3 commodities primed for triple digit gains in 2024 [Video]
So far this year, no market trend has captivated trader’s attention quite like the Supercycle in Commodities and there's a good reason why. This is now the fourth consecutive year that has seen a total of 47 Commodities ranging from the Metals, Energies to Agriculture notching up new multi-year and
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US national account figures spook markets, Bank of Japan stays put
In focus today In the US, today's main data focus will be on the March PCE. Consensus expects both headline and core PCE inflation to remain steady at 0.3% m/m after mixed signals from March CPI and PPI reports. After yesterday's GDP release, we got the quarterly PCE print as well, showing increased
BOJ's Finance chief maintains stance on yen, no change in approach
On Thursday, the yen dropped below the 155 level against the dollar, which is regarded as a significant threshold by the authorities and increases the likelihood of currency intervention. "When pressed by an opposition lawmaker to intervene in the currency market, Finance Minister Shunichi Suzuki re
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BoE's Pill suggests rate cut not imminent, despite progress
On Tuesday, Huw Pill, Chief Economist at the Bank of England, remarked that while the passage of time and the absence of negative inflation news had brought interest rate cuts closer, they were still not imminent. Investors scaled back their expectations for a rate cut by the Bank of England in the
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New Zealand's annualized Trade Balance declines $-9.87 billion after a rise in MoM Exports
New Zealand's Trade Balance in NZD terms fell $-9.87 billion through the year ended in March, slightly less than the previous YoY period, which declined $-12.06 billion, a slight downside revision from the initial print of $-11.99 billion. New Zealand's Exports rose to a 10-month high of 6.5 billion
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BOJ will raise rates if trend inflation accelerates, says Gov Ueda
Bank of Japan Governor Kazuo Ueda stated on Tuesday that should there be an acceleration in trend inflation towards the 2% target, which aligns with the central bank's projection, the bank will proceed to increase interest rates once more. Ueda informed the parliament that altering monetary policy w
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AUD/JPY Price Analysis: Climbs as buyers regain control, target 100.00
AUD/JPY climbs sharply, approaching the key psychological level of 100.00, buoyed by renewed optimism in global markets. Technical analysis highlights potential resistance at the year-to-date high of 100.81, with further targets at 101.00. Key support levels identified at 99.65 and 99.20, with poten
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USD/JPY Price Analysis: Consolidates around 154.60 on Japanese intervention fears
USD/JPY recovers after hitting a four-day low, as Tehran’s non-retaliatory stance calms market fears. Consolidation near 155.00 under scrutiny, with Japanese officials wary of excessive forex volatility. Technical levels to watch: support at Tenkan-Sen 153.18, with further supports at 152.29 and 151
Pull-up Update