In the past week, the exchange rate of the US dollar against the Japanese yen (USD/JPY) has changed, affected by a variety of factors. The following is an analysis of the main developments during this period:
Falling demand for the US dollar: Disappointing inflation data in the United States led to a negative impact on the prospect of future interest rate hikes by the Federal Reserve, thus reducing the demand for the US dollar.
USD/JPY exchange rate changes: Due to saturated buying, the USD/JPY exchange rate once hit the resistance level of 151.90, the highest point in a year, and then fell back, falling on Friday. to the support level of 149.19 and fell steadily around 149.57.
U.S. Economic Data: The U.S. economic calendar is lighter during Thanksgiving week. Data are expected to show weak U.S. second-hand home sales and rising unemployment in October, along with data on durable goods orders, manufacturing and services activity. .
The U.S. labor market is weak: The number of weekly jobless claims in the U.S. rose to 231,000, exceeding market expectations, indicating that the U.S. labor market continues to be weak, reinforcing market expectations that the Federal Reserve will no longer raise interest rates or even consider cutting interest rates. The expected.
Technical Indicator Analysis: From a technical perspective, the USD/JPY exchange rate is currently in a downward channel and has fallen below the 100 hour moving average. Bearish in the short term, but still in an upward channel in the long term.
Based on this information, it can be seen that the recent fluctuations in the USD/JPY exchange rate have been affected by changes in U.S. economic data and market expectations for the Federal Reserve's monetary policy. This trend is likely to continue as more economic data is released in the coming days. Investors need to pay close attention to relevant economic indicators and policy developments to reasonably predict and respond to possible market fluctuations.
This report is for informational purposes only and should not be relied upon as a complete source of information on any specific company or financial topic. All information provided in this report is based on publicly available information and third-party sources and is believed to be reliable; however, we cannot guarantee its accuracy and completeness.
We make no warranties or representations, express or implied, as to the accuracy or completeness of the information contained in this report, and this report is not a substitute for the reader's independent investigation and informed judgment.
We do not accept any liability for any direct, indirect or consequential losses arising from the use of this report or its contents.
This report should not be construed as an offer or solicitation to sell or a solicitation to buy any security. Past performance is not indicative of future results. Readers should not make investment decisions based solely on this report but should consult their own financial advisor.
Comments