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Market Update – January 16 – USD at 7 mth lows as YEN takes centre stage


The BOJ As the week begins, trading is dominated by this week’s meeting. Japanese 10-year yields are trading at 0.51% higher than the BOJ ceiling, adding to speculation that the BOJ could raise the ceiling to 1.0% on Wednesday. US stocks closed higher on Friday, gaining 2.3% Last week. Today, the US markets are closed and Asian markets are generally higher due to China’s opening soon expectations despite record COVID deaths. USD trades at 7 mth lows. GOLD Highs in April 2022 BTC Over $21k 2-mth highs.    

Week aheadBOJ Wednesday, US – Retail Sales, PPI, Empire & Philly Fed & Housing data. EZ – ZEW. UK – CPI, Jobs & Retails sales. CAD – CPI & Retail sales. AUD – Jobs. EARNINGS YEAR In full swing (Morgan Stanley, Goldman Sachs & Netflix headline).

  • The USD Index Tanked below 102.00 Friday closes at 5:00 p.m. 101.85.
  • EUR – holds over 1.0800. The two were touched 1.0860 Early trades and then back to 1.0835 now. 
  • JPY – dipped again touching 127.30 Lows in Asian trading (last seen April 20,22) 128.00 now.
  • GBP – Sterling is tested 1.2290 Before you go back to testing, 1.2225 support.
  • Stocks – Friday’s close of the US markets was higher than usual (+0.33-0.71%), following generally good Banking…

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