
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
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Since the last global economic crisis, the USD has been trading against CHF at approximately equal value. USD/CHF rarely dropped more than 10% and was quick to recover the losses to the same level of 1.00 all along the last several years.
However, March 2020 changed the layout. USD/CHF experienced a very heavy blow of fluctuation and started going down: by the end of 2020, it was above 0.88.
Eventually, in December 2020, Donald Trump labeled Switzerland a "currency manipulator". The statement was then revoked by other US officials but the Swiss National Bank took measures to stop the appreciation of the Swiss franc.
Currently, one US dollar is worth approximately 0.92 Swiss francs.
During its last press conference, the SNB advised that the interest rate will be kept steady at -0.75 where it is now at least through 2022. By then, if the inflation and economic dynamics are at the expected level of full recovery, the monetary stance may be adapted to the new economic environment.
Until then, however, we may take it that the monetary course of SNB will keep the same direction. Therefore, we may expect that the SNB will try to move the Swiss franc to pre-virus levels - meaning, closer to 1.00 for USD/CHF.
Therefore, in the coming months, we may see a further bullish push in USD/CHF - until the current enter the stabilization zone 1.00-0.97.
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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