2025.01.24 [January 24] U.S. rate cut expectations and Bank of Japan rate hike. Markets await BOJ Governor Kazuo Ueda's press conference.
This article was :
published
updated
Recap of previous trading day (January 23)
Yesterday the USDJPY reached a high of 156.75 at around GMT 05:30, then turned downward.
Shortly after GMT 16:00, President Trump requested a rate cut during his speech, triggering dollar selling. The USDJPY hit a low of 155.74 shortly after GMT 19:30 and trading for the day closed at 156.05.
Recap of the Tokyo market and outlook going forward
Today the USDJPY fluctuated significantly after the Bank of Japan announced a rate hike to 0.50% shortly after GMT 03:00, reaching a high of 156.41 and a low of 155.71 around GMT 03:30. BOJ Governor Kazuo Ueda's press conference is scheduled for GMT 06:30.
Looking at the 1-hour chart of the USDJPY (as of GMT 03:40, January 24), while the middle line shows a downward trend, large fluctuations in both directions make it difficult to determine a clear direction.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
The main economic indicators for today are as follows:
- GMT 14:45 U.S. January Manufacturing Purchasing Managers Index
- GMT 14:45 U.S. January Services Purchasing Managers Index
- GMT 14:45 U.S. March Composite Purchasing Managers Index
Was this article helpful?
No
Yes
0 out of 0 people found this article helpful.
Thank you for your feedback.
