USD/JPY Forecast – US Dollar Continues to See Pressures
The US dollar has fallen a bit against the Japanese yen on Wednesday but has also seen a bit of a short-term bounce, showing signs of life at a crucial point on the chart.
The US dollar has fallen a bit against the Japanese yen on Wednesday but has also seen a bit of a short-term bounce, showing signs of life at a crucial point on the chart.
The Aussie dollar has been somewhat sideways for the last few days, as we are sitting on the previous support area that traders have been paying such close attention yet again. This is a market that will continue to see a lot of questions asked of risk appetite.
According to BlockBeats, the United States' Consumer Price Index (CPI) for August, unadjusted for seasonal variations, recorded an annual rate of 2.5%. This marks the fifth consecutive month of decline and the lowest level since February 2021. The figure came in below market expectations, which had anticipated a rate of 2.6%.
According to Odaily, a spokesperson for the European Banking Authority (EBA) has indicated that standards governing how stablecoin issuers like Tether and Circle operate within the European Union (EU) are likely to be finalized by the end of the year. These standards are part of 15 technical standards submitted by the EBA to the European Commission, developed in collaboration with the European Securities and Markets Authority (ESMA). The Commission is currently reviewing these standards and will decide whether to adopt the text as is or request modifications. The standards address issues such as authorization, stress testing, and methods for estimating transaction volume and value.
According to Odaily, the United Arab Emirates' Securities and Commodities Authority (SCA) and Dubai's Virtual Assets Regulatory Authority (VARA) have announced an agreement that will enable mutual supervision of virtual asset service providers (VASPs) within the country. Under this agreement, VASPs operating in Dubai and seeking VARA licensing will automatically be registered with the SCA, allowing them to serve the broader UAE market. However, the SCA clarified that VASPs wishing to operate in emirates outside of Dubai must still obtain permission from the respective regulatory authorities.
The ECB’s 12 September meeting could be a turning point as Eurozone data sends mixed signals. With rising stagflation risks and wage growth pressures, the central bank faces a complex decision: should they cut rates to support growth or maintain their focus on battling inflation? Traders should be on high
This India ETF hits a new 52-week high. Are more gains in store for this ETF?
-- Gold prices rose in Asian trade on Wednesday and were close to record highs as a fiery debate between presidential candidates Kamala Harris and Donald Trump raised uncertainty over the 2024 elections.
-- Most Asian currencies gained ground on Wednesday as the dollar retreated in the wake of a fiery U.S. presidential debate, with focus turning to key upcoming inflation data due later in the day.
The tech sector led the charge for the tech-heavy S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) on Tuesday, holding onto some gains after last week's sell-off. However, Big Bank stocks took a hit in the trading session after Federal Reserve Vice Chair for Supervision Michael Barr announced updated capital requirement regulations for banks. Meanwhile, historical patterns are coming to fruition as third quarter earnings estimates are being cut and the election will likely create more market volatility (^VIX). Yahoo Finance Markets Reporter Josh Schafer joins Asking for a Trend to break down his key takeaways from the trading day. For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Melanie Riehl