RBFX Support Posted Monday at 09:54 AM Author Share Posted Monday at 09:54 AM (edited) USDJPY: uncertainty in the BoJ actions weakens the Japanese yen The USDJPY rate reversed from the support level, with the current price at 156.55. Discover more in our analysis for 23 December 2024. USDJPY forecast: key trading points The Japanese yen remains under pressure due to uncertainty regarding a Bank of Japan interest rate hike Americans’ income rose by 0.3% in November, with spending increasing by 0.4% The core US PCE Price Index increased by 2.8% year-on-year USDJPY forecast for 23 December 2024: 157.85 and 160.15 Fundamental analysis The USDJPY rate rises on Monday, holding above the key resistance level at 155.95. The Japanese yen remains under pressure amid persistent uncertainty regarding the timing of a potential BoJ interest rate hike. Last week, the Bank of Japan kept the rate unchanged, citing the need to carefully analyse wage changes, global economic uncertainties, and the impact of the new US administration on the economy. Meanwhile, Americans’ incomes increased by 0.3% from October, while spending rose by 0.4%. Analysts had forecasted higher figures of 0.4% and 0.5%, respectively. The core PCE Price Index, closely monitored by the Federal Reserve to assess inflation risks, increased by 2.8% year-on-year, unchanged from the October reading. This is the most substantial growth since April; experts had expected it to accelerate to 2.9%. Today’s USDJPY forecast suggests that robust US inflation data will help strengthen the US dollar. RoboForex Market Analysis & Forex Forecasts Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team Edited Monday at 10:01 AM by RBFX Support Link to comment Share on other sites More sharing options...
RBFX Support Posted Tuesday at 09:52 AM Author Share Posted Tuesday at 09:52 AM (edited) Brent attempts to regain ground after a decline Following a decline, Brent crude oil is attempting a recovery, with a potential growth target of 73.00. Discover more in our analysis for 24 December 2024. Brent forecast: key trading points Brent crude oil futures show growth on the London Stock Exchange Market participants anticipate a pre-New Year rally Brent forecast for 24 December 2024: 73.00 and 72.30 Fundamental analysis Brent crude oil continues to strengthen amid a reduction in global hydrocarbon reserves. Brent prices are experiencing moderate growth on 24 December 2024, following slight declines in the previous days. This morning, February futures on London’s ICE Futures exchange increased by 0.35 USD (0.48%), reaching 72.98 USD per barrel. Analysts attribute this growth to the recovery from the previous decline and market participants’ expectations ahead of the upcoming holidays, which could lead to lower trading volumes and increased volatility. Nevertheless, the market remains concerned about an economic slowdown in China, one of the world’s largest oil consumers, and the strengthening of the US dollar. All these factors could exert pressure on prices in the near term. RoboForex Market Analysis & Forex Forecasts Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews. Sincerely, The RoboForex Team Edited Tuesday at 09:52 AM by RBFX Support Link to comment Share on other sites More sharing options...
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