NZDJPY: Asian session market update: NZD decreased during the se
Updated
NZD fell during the session, a report from Westpac cut its expectations for Q4 CPI to 3%. If inflation falls rapidly, it would mean the Reserve Bank of New Zealand does not need to keep interest rates 'higher for longer' and would therefore cut support for the NZD.
In addition, the Tankan Q4 report includes a survey of thousands of Japanese companies of all sizes, in many industries conducted by the Bank of Japan. Shows that the Japanese economy continues to improve, albeit slowly, and also shows that business inflation expectations remain above 2% (BOJ target) for 5 years!
USD recovered, EUR, GBP, CAD, AUD all decreased slightly. The market is now mainly waiting for the Federal Open Market Committee (FOMC).
Oil prices remain high, a draft global declaration at COP28 called for the world to transition away from fossil fuels by 2050.
In addition, the Tankan Q4 report includes a survey of thousands of Japanese companies of all sizes, in many industries conducted by the Bank of Japan. Shows that the Japanese economy continues to improve, albeit slowly, and also shows that business inflation expectations remain above 2% (BOJ target) for 5 years!
USD recovered, EUR, GBP, CAD, AUD all decreased slightly. The market is now mainly waiting for the Federal Open Market Committee (FOMC).
Oil prices remain high, a draft global declaration at COP28 called for the world to transition away from fossil fuels by 2050.
Note
💵BUY NZDJPY 88.80- 88.90💵❌SL 88.30
✔️TP 89.30
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