2024.07.11 [July 11] Although lacking momentum the price rises slowly as the market waits for today's CPI
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Recap of previous trading day (July 10)
Despite fairly deep pullbacks along the way, the USDJPY rose yesterday to eventually hit a high of 161.80 at around GMT 18:00.
Although the price approached the 162-yen level, there seemed to be little in terms of news to drive participants to aim for a new high.
Recap of the Tokyo market and outlook going forward
Today the USDJPY traded narrowly in the middle of the 161-yen range. There may be no significant movement until the U.S. Consumer Price Index (CPI) is announced later today.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:50 on July 11), there is no sense of momentum to the price but the market is rising unhurriedly.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
Today's main economic indicators are as follows.
- GMT 12:30 U.S. June Consumer Price Index (CPI, MoM)
- GMT 12:30 U.S. June Consumer Price Index (CPI, YoY)
- GMT 12:30 U.S. June Consumer Price Index (Core CPI, MoM)
- GMT 12:30 U.S. June Consumer Price Index (Core CPI, YoY)
- GMT 12:30 U.S. Initial jobless claims for the previous week
- GMT 12:30 U.S. Continuing jobless claims for the previous week
- GMT 18:00 U.S. June Monthly Budget Statement
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