We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

  • TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
  • TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
  • TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood
We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details
இந்த இணையதளம் அமெரிக்கா வசிப்பவர்களுக்கு சேவைகளை வழங்குவதில்லை.
Market News USD/JPY Recovers From 134.00 Despite The Acceleration Of Japan's Inflation

USD/JPY Recovers From 134.00 Despite The Acceleration Of Japan's Inflation

Despite an acceleration in Japan's Inflation, the USD/JPY has recovered from 134.00. Annual headline CPI has increased to 3.2% from 2.6%, and annual core CPI has increased to 3.8% from 3.5%. It appears that the BoJ is on course to maintain an inflation rate above 2%.

Alina Haynes
2023-04-21
7166

USD:JPY.png

 

Despite the publication of wider-than-anticipated Japan's National Consumer Price Index (CPI) data, the USD/JPY pair defended the crucial support of 134.00 during the Asian session. Annual national CPI (March) increased to 3.2% from the consensus estimate of 2.6%, but remained below the previous release of 3.3%.

 

The decline in oil prices on the international market has resulted in a slight decrease in the headline CPI compared to previous figures. The core PCI, which excludes the impact of volatile energy and food prices, has increased to 3.8% from 3.4% and 3.5%, respectively. This is evidence of a consistent increase in retail demand, supported by the persistence of ultra-loose monetary policy and wage-growth stimuli.

 

This suggests that the Bank of Japan (BoJ) is on course to maintain an inflation rate above 2%. Governor Kazuo Ueda of the Bank of Japan previously stated that the central bank anticipates achieving stable consumer prices above 2% in 2025.

 

Reuters reported on Thursday that the Bank of Japan is considering modifying its controversial bond yield control policy later this year. According to sources familiar with the BoJ, "The preferred approach, for now, is to stay the course, which means the bank will not make any immediate major changes to YCC and its dovish policy guidance."

 

In the meantime, the US Dollar Index (DXY) is fluctuating erratically around 101.80 in anticipation of provisional S&P PMI data. The consensus estimate for Manufacturing PMI is 49.0, down from the previous reading of 49.9. The Services PMI is anticipated to decrease to 51.5 from 52.6 previously reported.


Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free