Yen Collapse; FOMC in Focus

tm_market_view_2024-1024x538-1.jpg

This post was originally published on Trademakers

Last week we saw the expected de-escalation in the Iran – Israel war and a risk on rally ensued.

The Yen had sharp sell off. Firstly, the BoJ kept rates unchanged, and a dovish tone then compounded  the fall closing the week through 158.

 

The dollar ended the week roughly flat with the DXY closing around 106.

 

In commodity currencies Aussie was the strongest. The AUD had a good week as strong domestic and inflation data buoyed the currency but also renewed optimism for the China recovery story. Data wise strong PMI’s gave optimism for GDP Q2 growth and a good week in Hong Kong stocks gave the positive sentiment and if this turns into a stable trend the AUD should see further upside.

 

Both Euro and Pound had relatively quieter weeks. The GBP performed well against the JPY and USD while the Euro had little data to spark interest. The ECB is still looking towards the summer before any rate cuts will be considered.

 

Oil continued its volatility with large intra week swings. The end of the week WTI close 1.9% higher.

 

Next week the market will be looking at the JPY to see if the collapse continues. We would expect a short terms reversal, but it is where the trend settles.

 

Data wise it is a busy week with FOMC and Non-Farm Payrolls as May rolls in.

Weekly Majors’ Market Performance

trademakers_market_view_010524

What is Cromwell FX?

Cromwell FX is a quantitative FX manager offering superior risk adjusted returns. The portfolio is the most liquid pairs . The strategy is fully automated and adhere to strict rick management procedures to control leverage and position limits.

The post Yen Collapse; FOMC in Focus first appeared on trademakers.

The post Yen Collapse; FOMC in Focus first appeared on JP Fund Services.

The post Yen Collapse; FOMC in Focus appeared first on JP Fund Services.

Connect with SGT Markets

Follow us for the latest news & insights

Related Articles

tm_market_view_2024-1024x538-1.jpg

Currencies More Subdued (Apart from Yen)

tm_market_view_2024-1024x538.jpg

Currencies More Subdued (Apart from Yen)

tm_market_view_2024-1024x538-1.jpg

BoJ Intervenes to Shore Up Yen

tm_market_view_2024-1024x538.jpg

BoJ Intervenes to Shore Up Yen

jpfs_3D_Bull_Bear_featured-1024x536.jpg

Preserving and Accumulating Wealth in the S&P 500

tm_market_view_2024-1024x538.jpg

Yen Collapse; FOMC in Focus

jpfs_3D_Bull_Bear_featured-1024x536.jpg

3D Bull & Bear Monthly Update – March 2024

jpfs_3D_Bull_Bear_featured-1024x536.jpg

3D Bull & Bear Monthly Update – February 2024

jpfs_multi_diversified_featured-1024x536.jpg

Multi Diversified FX Portfolio Performance – March 2024

jpfs_growth_diversified_featured-1024x536.jpg

Growth Diversified Portfolio Performance – March 2024

tm_market_view_2024-1024x538-1.jpg

Inflationary Pressure Resurfaces

tm_market_view_2024-1024x538-1.jpg

Inflationary Pressure Resurfaces