The USD/JPY pair is falling significantly to near 149.70 during North American trading hours on Tuesday. The pair tumbles as the Japanese Yen (JPY) outperforms its peers on expectations that the Bank of Japan (BoJ) will raise interest rates again this year. BoJ Governor Kazuo Ueda signaled on Monday that monetary policy adjustments would become appropriate if the central bank achieves its 2% inflation target. Meanwhile, optimism about more wage hikes has also boosted BoJ hawkish bets. Last week, Japan's largest trade union group, Rengo, showed that firms agreed to raise pay growth by 5.4%...
Gold price advances on Tuesday as the US Dollar (USD) remains on the back foot and amid falling US real yields, which typically correlate inversely to bullion prices. An unexpected rise in inflation expectations, spurred by US trade policies, boosted demand for the yellow metal, which is gaining 0.26%, trading at $3,018. The market mood is mixed, with US equity indices split between gainers and losers. US data revealed that Consumer Confidence fell to its lowest level in more than four years as households fear a future recession amid elevated inflation readings, according to the Conference...
The US Dollar Index (DXY) is experiencing mixed performance on Tuesday, trading around the middle of the 104.00 zone. Earlier in the day, the Greenback found support on stronger services activity and signs that proposed tariffs may be more targeted than feared. However, uncertainty returned as new headlines from US policymakers tempered the optimism. The evolving rhetoric on inflation and trade created a back-and-forth movement in the DXY, now grappling with nearby resistance. From a technical standpoint, the Moving Average Convergence Divergence (MACD) prints a mild buy signal, while the...