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On September 18th, State Street Global Advisors stated that the Bank of Japan (BOJ) is likely to adopt a cautious approach after raising its policy rate to 1.25%. Economist Krishna Bhimavarapu noted that while policy adjustments are possible at every policy meeting, Governor Kazuo Ueda may avoid explicitly committing to further rate hikes given weak household consumption and relatively moderate inflation. Strategist Masahiko Loo expects Ueda to maintain a neutral-to-hawkish stance; he pointed out that resilient economic growth, persistent inflation risks, and accommodative real policy rates all support further policy normalization. The current focus of discussion is shifting from whether the BOJ will raise rates again to what level interest rates will ultimately rise to.According to Japans Kyodo News, a meeting between the leaders of Japan and the United States is scheduled for September 22.The yield on Japans 2-year government bonds fell 4 basis points to 1.820%, while the yield on Japans 5-year government bonds fell 3 basis points to 2.265%.The yield on Japans 40-year government bonds rose 2.0 basis points to 4.135%.On September 18th, the Financial Times reported that the Venezuelan government and the countrys opposition are close to reaching an agreement to transfer approximately $4 billion worth of Venezuelas gold reserves from the Bank of England to the Federal Reserve Bank of New York. Four sources familiar with the matter revealed that under the terms of the agreement under discussion, the interim government led by acting President Rodriguez would gain legal control of the gold but would be prohibited from immediately selling the assets. Three of the sources indicated that the gold could instead be used as collateral for government borrowing to fund expenditures, including reconstruction following the devastating twin earthquakes in June. This potential gold deal is one of the first concrete results of negotiations between the US-backed interim government and the opposition. The sources said the agreement has not yet been finalized, and clarifying the technical details could take some time.

DOGE Requires Weak US Inflation, and Elon Musk Will Return to $0.10

Alina Haynes

Dec 09, 2022 15:16

dogecoin-6363104__480.jpg

 

It has been a mixed beginning to the day. Today's attitude will be influenced by investor anxiety regarding Twitter's integration intentions and Federal Reserve monetary policy.

 

On Thursday, dogecoin (DOGE) appreciated by 2.92 percent. DOGE concluded the day at $0.0986, partially reversing Wednesday's 4.49% decline. Notably, for the first time in 12 sessions, DOGE failed to revisit $0.10.

 

After a rocky start to the day, DOGE dropped to a low of $0.0948 in the early hours. DOGE surged over the First Major Support Level (S1) at $0.0921 to reach a late-day high of $0.0991. DOGE ended the day below $0.0990 after failing to surpass the First Major Resistance Level (R1) at $0.1004

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads as low as 0 pips and a commission rate of $3.50 per 100,000 USD traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

On Thursday, Shiba inu coin (SHIB) appreciated by 1.98%. SHIB finished the day at $0.00000927, partially reversing Wednesday's loss of 2.15%.

 

A mixed morning caused SHIB to drop to an early low of $0.0000009 per share. SHIB surged to a late-day high of $0.00000933 after avoiding the First Major Support Level (S1) at $0.00000891. Upon encountering the First Major Resistance Level (R1) at $0.00000932, SHIB retreated to close below $0.00000930.

 

Following a volatile morning session, economic indices in the United States provided much-needed support. A slight increase in unemployment claims bolstered the likelihood of a December Fed reversal. The Jobs Report from last week increased uncertainties regarding the next policy step.

 

The NASDAQ Composite Index increased by 1.13 percent, providing support for DOGE and SHIB.

 

The day's gains were capped by the absence of an update from Elon Musk on his plans to resume integrating DOGE onto the Twitter network.

 

Today, the attention will continue on the US economic calendar, as wholesale inflation and consumer confidence are forthcoming. A sudden increase in wholesale inflation might cast doubt on the Fed's pivot theory and cause DOGE and SHIB to reverse.


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