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Monday, 13 November 2017

What’s next? – USDJPY 13.11.17

Posted by Anonymous at 10:14 Labels: what’s next

The dollar was trading 0.08 lower against the Japanese yen at 113.41 as of 06:50 GMT, with the greenback remains under pressure on concerns regarding the US tax reform.

Last Friday, the greenback felt on fears that the Republican Senate will block tax reductions for the corporate sector (from 35 percent to 20 percent) until next year.

Investors are speculation on President Donald Trump’s tax cuts, which are seen as a potential cause for higher inflation and further interest rate hikes from the Federal Reserve.

According to CME Group’s FedWatch tool, traders are pricing in more than a 90 percent chance of a 25 basis points interest rate move in December.

On the data front, Michigan University’s consumer expectations and sentiment indicators for November were both below forecasted values at 87.6 and 97.8 respectively.

Ahead in the session, market players trading the USDJPY will keep an eye on a speech from Bank of Japan Governor Kuroda at 17:45 GMT and the release of the US Federal Budget Balance as of 19:00 GMT.

The economic front this week will also include Japan’s producer inflation, revised industrial production and a preliminary reading of the gross domestic product, seen at 0.4 percent. In the US we will count on producer inflation, consumer inflation, building permits and retail sales.

In the days to come, attention is likely to remain at the US tax reform negotiations between Trump’s administration and the Republican leadership. To renew the upside momentum, all doubts about the reform should basically vanish.

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1 comment :

  1. Alexxio4 April 2022 at 17:24

    We suggest the readers meeting seneca casino not to indulge in any parking casino niagara kind of speculation.

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