Forex News April 16, 2022

 

Forex

  • The GBP is the strongest currency, while the JPY is the weakest.
  • The USD is slightly higher.
  • The US and European markets are closed, but the forex market is still open. The GBP is the strongest currency, while the JPY is the weakest.
  • The major currencies are all very close together, with the JPY being the most notable outlier as it continues its upward trend and trades to a new high dating back to 2002. With US interest rates continuing to rise, the spread to Japan equivalent yields remains wide.
  • The spread between the US 10-year yield and the Japanese 10-year yield is currently 253 basis points, which is close to the recent cycle high of 2.588.
  • At 9:15 a.m. ET, the Federal Reserve will release data on industrial production and capacity utilisation.
  • It also appears that the April NY Fed Empire State Manufacturing Index will be released at 8:30 a.m. ET.
  • The following are the IP and capacity utilisation expectations:
  • capacity utilisation was 77.8 percent versus 77.6 percent last month; and industrial production was 0.4 percent versus 0.5 percent last month.

The New York Fed Empire manufacturing index is expected to be 0.5, up from -11.8 last month.

Bitcoin is currently trading (it never closes) at $40,235, up $321 on the day.

USD/JPY

  • The USDJPY has reached its highest level since May 2002. The pair is at or near a 20-year high.
  • All other highs have been broken.

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#edgeforex #forexsignals #forextrading #forex #currencies #jpy #usd #gbp #eur #empirestate #fed #centralbank #cryptocurrency #bitcoin 

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