The Bank of Japan (BoJ) kept key rates unchanged today, but signaled a possible shift in policy by adopting a flexible upper bound for long-term rates. This reflects their revised inflation outlook, expecting it to top 2% in 2023 and 2024.

Heading into the final week of 2023, the US Dollar remains under pressure. The Fed’s hint at rate cuts next year confirmed market expectations, leading to heavy selling of USD. Further data weakness, especially inflation-related, could push rate cut expectations forward and weigh on the dollar. Conversely, stronger data could delay rate cuts and support USD in the near term. Key data points this week include unemployment claims, Q3 GDP, […]

After a rough 2022, the Nasdaq 100 roared back in 2023, climbing from around 11,000 points to near its 2021 peak of 16,764 by December. Technical indicators like the Alligator and 200-day SMA confirmed this strong upward trend.

Markets face a crucial week before the festive break, with top-tier data releases taking center stage despite thinning liquidity. US GDP, jobless claims, Philly Fed Manufacturing Index, and Canadian retail sales all due throughout the week. UK retail sales data on Friday offers another peek into consumer spending.

Dollar Demolished: The U.S. dollar (DXY) plunged below 102.00 on Thursday, its lowest since August, driven by a dovish surprise from the Fed. Rate cut talk in 2024 and 2025, exceeding September’s projections, sent Treasury yields tumbling and sparked a dollar selloff.

This week will be crucial for the currency pair as several key economic data releases are scheduled, potentially impacting its direction.

All eyes are on the Federal Reserve’s final policy meeting of 2023 this Wednesday, with markets expecting interest rates to remain at their 22-year high. Investors will dissect the Fed’s statement and Chair Jerome Powell’s press conference for hints about potential rate cuts in 2024.

Here are the Top Market Analysis for the 21st of November, 2023.

Here are the Top Market Analysis for the 20th of November, 2023.

Here are the Top Market Analysis for the 17th of November, 2023.