CADJPY Positional View as JPY bring neutral
JAPANESE YEN STILL BE NEUTRAL
Dollar Index (DXY) Roars Back to Life as Safe Haven Demand Grows Due to the Conflict in the Middle East.
Fed Officials Say that Higher Yields Are a Positive in the Fight Against Inflation.
Developments in the Middle East and Federal Reserve Policymakers Will Drive Price Action in the Week Ahead.
The Canadian dollar's rise against the US dollar above key resistance points to further gains on improving risk appetite amid resilient global growth, signs of a turnaround in commodity prices, and hopes of more stimulus from China.
Commodity prices (using the Bloomberg Commodity Total Return Index) rebounded sharply in the week ended June 16, while the Bloomberg Industrial Metals index appears to have found a floor. The rebound in commodity prices has aided commodity-sensitive currencies, including the Canadian dollar, the Australian dollar, and the New Zealand dollar.
Moreover, the raising of the US debt ceiling, fading stress in the banking/financial sector, resilience in global growth, and hopes that global interest rates are peaking have boosted investor confidence in risk-sensitive assets, especially technology stocks.
Dollar Index (DXY) Roars Back to Life as Safe Haven Demand Grows Due to the Conflict in the Middle East.
Fed Officials Say that Higher Yields Are a Positive in the Fight Against Inflation.
Developments in the Middle East and Federal Reserve Policymakers Will Drive Price Action in the Week Ahead.
The Canadian dollar's rise against the US dollar above key resistance points to further gains on improving risk appetite amid resilient global growth, signs of a turnaround in commodity prices, and hopes of more stimulus from China.
Commodity prices (using the Bloomberg Commodity Total Return Index) rebounded sharply in the week ended June 16, while the Bloomberg Industrial Metals index appears to have found a floor. The rebound in commodity prices has aided commodity-sensitive currencies, including the Canadian dollar, the Australian dollar, and the New Zealand dollar.
Moreover, the raising of the US debt ceiling, fading stress in the banking/financial sector, resilience in global growth, and hopes that global interest rates are peaking have boosted investor confidence in risk-sensitive assets, especially technology stocks.