USD/JPY Forecast: Reuters Tankan Index and Japan Trade Data Impact on BoJ Hike Bets
==========
The article discusses the impact of the Reuters Tankan Index and Japan trade data on the speculation of a July Bank of Japan (BoJ) interest rate hike. The Reuters Tankan Survey fell from 9 points to 6 points in June, signaling weakening sentiment in the manufacturing and non-manufacturing sectors. Trade data from Japan is also expected to be released, with economists forecasting an increase in exports and imports. However, the trade deficit is expected to widen, which could signal deeper economic issues. The article also mentions that central bank chatter, US housing sector data, and shifting sentiment regarding a possible Fed rate cut in September will influence the USD/JPY pairing. The USD/JPY price action is currently above the 50-day and 200-day moving averages, with a potential climb towards the April 29 high of 160.209. The article concludes by stating that near-term trends for USD/JPY will depend on central bank chatter, inflation numbers from Japan, and Services PMIs.
#Usd/jpy #ReutersTankanIndex #JapanTradeData #BojHikeBets
https://www.fxempire.com/forecasts/article/usd-jpy-forecast-reuters-tankan-index-and-japan-trade-data-impact-on-boj-hike-bets-1439400
FX Empire /
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2024-06-19 00:29:50
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2024-06-19 00:29:50Event JSON
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"content": "USD/JPY Forecast: Reuters Tankan Index and Japan Trade Data Impact on BoJ Hike Bets\n==========\n\nThe article discusses the impact of the Reuters Tankan Index and Japan trade data on the speculation of a July Bank of Japan (BoJ) interest rate hike. The Reuters Tankan Survey fell from 9 points to 6 points in June, signaling weakening sentiment in the manufacturing and non-manufacturing sectors. Trade data from Japan is also expected to be released, with economists forecasting an increase in exports and imports. However, the trade deficit is expected to widen, which could signal deeper economic issues. The article also mentions that central bank chatter, US housing sector data, and shifting sentiment regarding a possible Fed rate cut in September will influence the USD/JPY pairing. The USD/JPY price action is currently above the 50-day and 200-day moving averages, with a potential climb towards the April 29 high of 160.209. The article concludes by stating that near-term trends for USD/JPY will depend on central bank chatter, inflation numbers from Japan, and Services PMIs.\n\n#Usd/jpy #ReutersTankanIndex #JapanTradeData #BojHikeBets\n\nhttps://www.fxempire.com/forecasts/article/usd-jpy-forecast-reuters-tankan-index-and-japan-trade-data-impact-on-boj-hike-bets-1439400",
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