FOREX NEWS & BLOG

BOJ governor Ueda: We have seen how technology has diversified financial intermediation

BOJ governor Ueda: We have seen how technology has diversified financial intermediation

November 21, 2024 7:40 am |

  • Financial industry to undergo even more transformation with the recent rise of generative AI
  • A regulatory and supervisory framework that adapts to technological advancements is essential
  • Need to build on insights gained from exports to fully benefit from new technology
  • But technological advancements bring new risks to financial stability
  • As financial services grow more diverse and complex, the channels of risk transmission have become less transparent
  • And current financial regulations may not be fully equipped to manage new types of financial services

Nothing that touches on monetary policy from Ueda in this latest speech.

This article was written by Justin Low at www.forexlive.com.

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BOJ governor Ueda: We don’t make comments on short-term FX moves

BOJ governor Ueda: We don’t make comments on short-term FX moves

November 21, 2024 7:04 am |

  • There is still a month to go until the next policy meeting, there will be more information available by then
  • We decide monetary policy meeting by meeting on the basis of information that becomes available up to the meeting itself
  • Need to take into account FX movements in forming our economic and inflation outlook, including what’s causing FX changes that are taking place at the moment

He’s not giving anything away just yet and as things stand, traders are quite torn on what they will be doing in December. The OIS market shows that pricing for a 25 bps rate hike is at ~48% odds currently. The remainder ~52% odds are siding with the BOJ not making any change to their policy settings.

This article was written by Justin Low at www.forexlive.com.

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Short-term Analysis for BTCUSD, XRPUSD, and ETHUSD for 21.11.2024

Short-term Analysis for BTCUSD, XRPUSD, and ETHUSD for 21.11.2024

November 21, 2024 6:50 am |

Dear readers, I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis. The three cryptocurrencies continue following the scenarios we have previously identified. Growth is expected to continue. Major Takeaways BTCUSD: Bullish momentum continues. Consider long positions from the current level with Take Profit at 99,553.17 XRPUSD: The price is expected to rise in impulse[C]. Consider long positions with Take Profit at a high of 1.250. ETHUSD: The price continues an ascending momentum movement. Consider buying from the current level with Take Profit at 3,534.34. Elliott Wave Analysis for Bitcoin BTCUSD has presumably formed a correction [4]… Read full author’s opinion and review in blog of #LiteFinance

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Chinese government advisers call for steady 5% 2025 economic growth goal, strongr stimulus

Chinese government advisers call for steady 5% 2025 economic growth goal, strongr stimulus

November 21, 2024 5:30 am |

Reuters with the info.

Chinese government advisers recommend a 2025 economic growth target of around 5%, despite challenges from U.S. tariff hikes and slowing global demand.

  • Some advisers suggest lower targets of “above 4%” or a 4.5%-5% range.
  • Maintaining a lofty target aligns with President Xi Jinping’s vision of doubling China’s economy by 2035.

Advisers advocate for stronger fiscal policies to counter tariff impacts, including raising the budget deficit above this year’s 3% of GDP and increasing domestic demand.

  • Potential measures include issuing more special treasury bonds for infrastructure and offering consumer subsidies.
  • Advisers emphasize balancing short-term stimulus with structural reforms (e.g., tax and welfare changes) to address long-term imbalances.
  • Beijing recently announced a 10 trillion yuan debt package for municipal relief but may reserve further stimulus until U.S. tariff actions become clearer.

The background to the calls for ongoing stimulus includes Trump’s proposed tariffs exceeding 60% on Chinese imports that could reduce growth by up to 1 percentage point.

  • Many manufacturers have already shifted production abroad to avoid existing tariffs.
  • Exports accounted for 20% of China’s GDP in 2023 but contributed only 2.2% to net GDP growth.
  • A hit to exports without offsetting domestic demand could exacerbate deflationary pressures and weaken growth.

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This article was written by Eamonn Sheridan at www.forexlive.com.

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ICYMI – OPEC+ could further extend voluntary cuts at its December meeting

ICYMI – OPEC+ could further extend voluntary cuts at its December meeting

November 21, 2024 5:18 am |

OPEC+ is scheduled to meet on December 1.

Reuters (out overnight) cite unnamed sources for info:

  • It may push back output increases when it meets on Dec. 1
  • due to weak global oil demand
  • according to three OPEC+ sources familiar with the discussions
  • Ministers last shelved the increase for a month when they met virtually on Nov. 3
  • Two other OPEC+ sources said it was too early to say what the group will decide.

If you think that OPEC+ is just Saudi Arabia and Russia you’d be off track … but not by too much, these two are the biggies.

This article was written by Eamonn Sheridan at www.forexlive.com.

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Perfect Trend Line and Volatility Quality Forex Trading Strategy

Perfect Trend Line and Volatility Quality Forex Trading Strategy

November 21, 2024 5:08 am |

The Perfect Trend Line and Volatility Quality Forex Trading Strategy is designed to offer traders a balanced approach by combining the strength of trend-following with precise volatility measurement. In the ever-fluctuating Forex market, identifying reliable trends is crucial for profitable trading. The Perfect Trend Line indicator helps in detecting clear, actionable trends by smoothing out […]

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