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  1. #241
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    USD/JPY pair may return to 113.00 amid falling yields

    USD/JPY rebounded to 113.00 during its first open in Tokyo on Thursday, struggling to defend its first of a three-day advance. The yen appears to be receiving signals from the dollar’s rebound and a surge in global market volatility reflecting recent moves. But the Fed’s next move and eagerness to put safety at risk amid mixed fears of the Omicron crisis are keeping the Japanese currency at the top of the safe haven list and raising doubts among bull markets.


    USD/JPY hit an intraday high and fell near its two-month low, during the pre-NFP trade downturn, markets are sluggish and mixed signals from the Fed add to the hesitation.
    The US is considering extending the shelf life of masks after marking the first Omicron case. The OECD is downgrading its global growth projections, with Japan’s GDP expected to rise to 1.8% in 2021 from 2.5% in previous projections.


    While reiterating concerns about inflation, Fed Chairman Jerome Powell said he still believes inflation will “fall significantly” in the second half of 2022, while speaking out against a Senate committee. In contrast, New York Federal Reserve Governor John C. Williams said the New York Times said Omicron could extend the supply-demand mismatch, leaving some inflationary pressure.


    The 10-year Treasury yield is under pressure near its two-month low at around 1.42% at the time of release, while S&P 500 futures are trading up 0.30% since the Wall Street benchmarks released. But the promise of safety is supported by the latest news about corona virus options in South Africa. Following the first Oh Micron incident in the United States, the Joe Biden administration has put pressure on people to expand the rules for wearing masks on public transportation. “The administration of President Joe Biden will extend the requirement for travelers to wear masks on planes, trains, buses, and airports and train stations by mid-March to address the current risk of Omicron as reported by Reuter. Add to that risk shift and could be the latest economic forecast from the Organization for Economic Cooperation and Development (OECD), which suggests that global GDP will grow by 5.6% in 2021 (previously 5.7%) and 4.5% in 2022. According to Reuters, it is 3.2% in 2023.


    Read Full News : Daily & Weekly Analysis on XtreamForex

  2. #242
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    NZD/USD stays directed towards 0.6710 supports after softer China data, US NFP eyed

    NZD/USD remained bearish near the intraday low of 0.6786 since the Chinese Caixin PMI released early on Friday. At the same time, the kiwi pair reflects disappointing market sentiment and also responds to soft data ahead of key data on US non-farm payroll (NFP). China Caixin Services PMI for November fell to 52.1 from below 53.8, and the composite PMI also fell to 51.2 from 51.5 in the same month. At the same time, indicators of private activity differ from the official values ​​published earlier this week.


    Much of the bearish sentiment is adding to the broader strength of the US dollar in hopes of a faster contraction in the Federal Reserve after politicians appeared hawkish in their final speech before the silence began this Saturday. Key proponents of easing faster paybacks, which also fuel fears of inflation, include San Francisco Federal Reserve Bank (FRS) Governors Mary Daley and Thomas Barkin Richmond.


    Fed’s hawkish outlook, as well as a weaker-than-expected result for the week’s early and ongoing US unemployment claims, a dismal job cut for November applicants, also reinforced hopes for a faster austerity policy and favorable returns from the Fed. The Wall Street indicator also posted a consolidated weekly loss the previous day, but it should be noted that S&P 500 futures and Asia Pacific stocks fell earlier on Friday.


    The reason may have to do with the hopes of US politicians to avoid a government shutdown on Saturday. Also positive for kiwi prices may be recent optimism about the search for a cure for a South African strain of coronavirus called Omicron. Meanwhile, Beijing’s remarks about the EUUS’s recent dislike of China and the first phase of trade negotiations and tariffs seem to challenge risk appetite. In a similar vein, caution has been created ahead of the US employment report.


    Read Full News : Daily & Weekly Analysis on XtreamForex

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