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Forex Flash: US yields continue to lift USD/JPY - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that firmer US yields continued to lift USD/JPY on Tuesday and the pair may continue to push the envelope on the topside while dips may remain shallow in the near term and the 100.00 expected to be a hard floor at this juncture.

He continues to add that amid struggling base metals and the latest budget announcement, he expects AUD/USD to remain under downward pressure after sinking below parity. On the downside, he comments that the next visible support is expected towards the 0.9800 handle. As noted previously, he writes, “The current bout of aussie weakness is not borne out of risk aversion, but a stronger dollar environment mixed with expectations for a structural capitulation of the aussie’s broad valuation, as well as weak commodities at the margin – indicating that investors awaiting a sharp bounce in the short term may well be disappointed.”

Forex Flash: AUD – Inflation pressures subdued - TD Securities

Alvin Pontoh at TD Securities research team notes that wages in Auatralia rose by a less-than-expected +0.7% in Q1 (consensus +0.8%), easing the y/y pace to 3.2% from 3.3%.
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BoE sees a modest and sustained recovery over the next three years

The quarterly Inflation Report released by the Bank of England on Wednesday suggests that UK inflation should rise above 3% in June and that it will possibly remain above the 2% target for the next two years.
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