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Key Points
- Regarding the ceasefire, Ukraine is calling for a summit while Russia is demanding a memorandum outlining the principles and timeline for resolution, leading to a stalemate.
- The Reserve Bank of Australia cut its benchmark interest rate by 25 basis points from 4.10% to 3.85%. Governor Michele Bullock revealed that a 50bp cut was also discussed during the monetary policy meeting.
- Concerns over the U.S. fiscal deficit have intensified, pushing Treasury yields higher, as the tax-cut-inclusive budget is unlikely to pass in this week’s plenary session due to political disagreements.
Key Economic Events This Week
+ May 21: UK April Consumer Price Index
+ May 22: U.S. May Manufacturing PMI, U.S. May Services PMI
+ May 23: Germany Q1 GDP
USDJPY Chart Analysis
The USDJPY surged near the 149 level but reversed direction and fell to the 144 level. However, with a support line forming around 144, the pair is expected to regain upward momentum from this point. If the rebound scenario plays out, a rise toward the 151 level is anticipated. That said, if the 144 level is broken, there is potential for a further drop to the 140 level, so this alternative scenario should also be considered.
Please feel free to share your personal opinions in the comments. Don't forget to like and subscribe!
Key Points
- Regarding the ceasefire, Ukraine is calling for a summit while Russia is demanding a memorandum outlining the principles and timeline for resolution, leading to a stalemate.
- The Reserve Bank of Australia cut its benchmark interest rate by 25 basis points from 4.10% to 3.85%. Governor Michele Bullock revealed that a 50bp cut was also discussed during the monetary policy meeting.
- Concerns over the U.S. fiscal deficit have intensified, pushing Treasury yields higher, as the tax-cut-inclusive budget is unlikely to pass in this week’s plenary session due to political disagreements.
Key Economic Events This Week
+ May 21: UK April Consumer Price Index
+ May 22: U.S. May Manufacturing PMI, U.S. May Services PMI
+ May 23: Germany Q1 GDP
USDJPY Chart Analysis
The USDJPY surged near the 149 level but reversed direction and fell to the 144 level. However, with a support line forming around 144, the pair is expected to regain upward momentum from this point. If the rebound scenario plays out, a rise toward the 151 level is anticipated. That said, if the 144 level is broken, there is potential for a further drop to the 140 level, so this alternative scenario should also be considered.
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cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
네이버 카페 :
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.