Join the PU Xtrader Challenge Today
Trade with simulated capital and earn real profits after you pass our trader assessment.
Join the PU Xtrader Challenge Today
Trade with simulated capital and earn real profits after you pass our trader assessment.
14 November 2024,02:09
Trade Of The Day
Tags:
14 November 2024, 02:09
* Inflation Grip: The Japanese Yen continues to weaken against a strengthening U.S. Dollar following the release of U.S. CPI inflation data. The Consumer Price Index (CPI) report didn’t signal the inflation slowdown markets had hoped for, but it met expectations. Monthly headline CPI held steady at 0.2%, as forecasted, while the annual headline CPI increased to 2.6% year-over-year, up from 2.4% and matching projections. Core CPI inflation also aligned with market expectations, maintaining a 0.3% monthly rise and a 3.3% annual rate. This persistently elevated inflation data is likely to bolster the USD, as it may lead the U.S. Federal Reserve to reconsider rate cuts, further supporting the Dollar.
* Technical Breakout: USDJPY was traded higher following prior breakout above the previous resistance level 153.65. MACD which illustrate ongoing bullish momentum signal suggest the pair to likely further extend its gains.
* Resistance and Support: If the bullish momentum persists, there’s a strong likelihood that the price will potentially head towards the level 157.25. Conversely, a potential reversal is also to be expected and the price could head back towards 153.65.
Looking ahead, investors will focus on upcoming key U.S. economic data releases, including PPI, and Retail Sales this week for further direction and insights into economic momentum.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Stay updated on US and Japan data, central bank updates and any shifts in the US Dollar’s strength by following PU Xtrader’s financial news page.
Register For PU Xtrader Challenge And Start Prop Trading
Take Challenge
Trade with simulated capital and earn real profits after you pass our trader assessment.
14 November 2024, 02:09 USD/JPY Rises Further After U.S. CPI Data Release
13 November 2024, 02:18 Pound Drops as UK Unemployment Rate Rises
12 November 2024, 02:18 Gold Drops Amid Strong Dollar, Trump Policies
Disclaimer: This website exclusively provides proprietary trading services. We do not engage in any regulated activities, offer investment management services, or manage funds on behalf of external clients. Our trading activities are conducted solely with the firm's own capital, and we do not accept client deposits or manage client accounts. It's important to note that none of the services we provide should be construed as investment or financial services in accordance with applicable laws.
This website offers services related to professional skill and experience assessment, which determine your eligibility to trade with the firm's capital. The outcome of these services is inherently determined by your individual skill level and ability to perform within the trading requirements and objectives outlined for each service separately. Clients are strongly advised to thoroughly understand the requirements of the services before signing up for any.
The content provided on this website is for informational purposes only and does not constitute financial, investment, or trading advice. The information presented is based on sources believed to be reliable, but we do not guarantee its accuracy, completeness, or timeliness. We disclaim any liability for any loss or damage arising directly or indirectly from the use of or reliance on the information provided on this website.
This website is not directed to residents of certain jurisdictions such as the United States, Singapore, Australia, China and some other specified regions, and is not intended for distribution to, or use by, any person in any countries or jurisdictions where such distribution or use would be contrary to local law or regulation.
