简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:The GBP/JPY currency pair is in a subdued state, hovering just below the 183.00 level as traders brace for two pivotal central bank meetings. With the Bank of England (BoE) and the Bank of Japan (BoJ) on the horizon, market participants are gearing up for potential shifts in the exchange rate.
The GBP/JPY currency pair is in a subdued state, hovering just below the 183.00 level as traders brace for two pivotal central bank meetings. With the Bank of England (BoE) and the Bank of Japan (BoJ) on the horizon, market participants are gearing up for potential shifts in the exchange rate.
As of the early European session on Tuesday, GBP/JPY is trading at approximately 182.91, showing a modest 0.07% gain for the day. However, this calm exteriowithinr masks the anticipation building the forex market as two central banks prepare to make crucial interest rate decisions.
First up is the Bank of England (BoE), which is expected to announce its rate decision on Thursday. Traders are widely anticipating an increase in the interest rate, with expectations pointing towards a hike from 5.25% to 5.5%. Last week's UK economic data seemed to support this possibility, reinforcing Governor Andrew Bailey's recent statement that the BoE is nearing the conclusion of its tightening cycle. However, concerns about the potential economic impact of aggressive rate hikes leading to a recession may influence the BoE's decision and could result in a pause in the rate-hiking cycle.
On the other side, the Bank of Japan (BoJ) is gearing up for its meeting on Friday. The BoJ is taking a more cautious approach, opting to wait for clearer signs regarding the resilience of Japan's fragile economy in the face of slowing demand from the US and China. BoJ Governor Kazuo Ueda indicated last week that the central bank might consider exiting its negative interest rate policy when inflation approaches its 2% target, with a potential evaluation by the end of the year.
At the upcoming meeting, the BoJ is expected to maintain its short-term interest rate target at -0.1% and its 10-year bond yield target at around 0%. Market watchers will closely follow Governor Kazuo Ueda's press conference after the meeting for any new signals about the timing of potential policy changes.
Looking ahead in the week, investors will keep an eye on the UK Consumer Price Index for August, set to be released on Wednesday. However, the spotlight remains on the BoE's and BoJ's monetary policy meetings on Thursday and Friday, respectively. These events are likely to guide trading decisions around the GBP/JPY cross as market participants await insights into the central banks' stances and their potential impact on the exchange rate.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
The forex market presents both opportunities and challenges, with technical analysis being crucial for successful trading. This article outlines the five essential steps for mastering Forex MT4 technical analysis: identifying trends, utilizing technical indicators, determining entry and stop-loss points, analyzing price charts, and performing real-time monitoring and adjustments. By following these steps, traders can enhance their understanding and application of technical analysis, ultimately improving their trading accuracy and success rate.
In this article, we will conduct a comprehensive examination of CA Markets, delving into its key features, fees, safety measures, deposit and withdrawal options, trading platform, and customer service. WikiFX endeavours to provide you with the essential information required to make an informed decision about utilizing this platform.
The Economic and Financial Crimes Commission (EFCC), Nigeria's premier law enforcement agency addressing financial crimes such as advance fee fraud and money laundering, has detained over 200 suspects connected to foreign exchange scams and market manipulation.
In recent years, the rise of online trading has brought with it a proliferation of brokerage firms, promising lucrative returns and financial success. However, alongside legitimate platforms, there exists a shadowy underbelly of deceitful operators preying on unsuspecting investors. Among these, GO4REX stands out as a prime example of a broker tarnishing the industry's reputation with its fraudulent activities.