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Bitcoin braces for potential short-term correction
Bitcoin (BTC) price may initially dip before experiencing a rally, and Ethereum (ETH) and Ripple (XRP) are likely to follow suit, dipping before their potential rallies. Bitcoin price could sink deeper amid corrective mode: Bitcoin price daily candlestick closes below the weekly support level of $67,147 on Thursday. BTC could have a short-to-mid-term downward correction in the coming days, tagging the midpoint level of the price imbalance between $63,118 and $64,602 at $63,813. This midpoint level also roughly coincides with the 50% retracement level at $64,240, calculated from the swing low of $56,523 on May 1 to a ... (full story)
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- From @financialjuice|Jun 13, 2024
post: BOJ TO OUTLINE BOND BUYING PLAN AT UPCOMING MEETING post: BOJ CUTS BOND BUYING TO ALLOW YIELDS TO FORM FREELY post: BOJ: PRIVATE CONSUMPTION HAS BEEN RESILIENT ALTHOUGH IMPACT OF PRICE RISES HAS REMAINED AND AUTO SALES HAVE CONTINUED TO BE PUSHED DOWN post: BOJ NO HAWKISH SIGNALS, NO SLOW DOWN OF BOND BUYING, NO RATE HIKE SIGNALS AND STICKING TO STIMULUS YEN STILL DEADBank of Japan decides to cut back on bond purchases The Bank of Japan on Friday decided in principle to reduce its purchases of Japanese government bonds, taking another step toward policy normalization following its first rate hike in 17 years in March. The central bank says it will decide on the detailed reducing strategy in the next meeting. Until then, it will continue purchases at the current pace, which is at around 6 trillion yen ($38.1 billion) per month. The move marks another move toward policy normalization that started on March 19, when the central bank decided to end its zero interest rate policy, new equity purchases and yield curve controls but stopped short of reducing the amount of its bond purchases. The shift illustrates the growing alarm among Japanese policymakers about the weak yen, exacerbated by the bank's supereasy monetary policy. Japan's currency, which has fallen 27% against the dollar since the beginning of 2022, plumbed a 34-year low of 160 to the greenback in April. After a two-day policy meeting, the BOJ decided to leave other measures unchanged, including its policy interest rate -- an uncollateralized overnight call rate -- between 0% and 0.1%. By cutting back on bond purchases, the BOJ will effectively shrink its JGB holdings and move into a quantitative tightening (QT) mode, a significant a
- From boj.or.jp|Jun 13, 2024|6 comments
At the Monetary Policy Meeting (MPM) held today, the Policy Board of the Bank of Japan decided, by a unanimous vote, to set the following guideline for money market operations for the intermeeting period: The Bank will encourage the uncollateralized overnight call to remain at around 0 to 0.1 percent. Regarding the purchase of Japanese government bonds (JGBs), CP, and corporate bonds for the intermeeting period, the Bank will conduct the purchase in accordance with the decisions made at the March 2024 MPM. The Bank decided, by an 8-1 majority vote, that it would reduce its purchase amount of JGBs thereafter to ensure that long-term interest rates would be formed more freely in financial markets.Holding the "Bond Market Group" Meetings In accordance with the decision at the Monetary Policy Meeting today, the Financial Markets Department of the Bank of Japan will hold the "Bond Market Group" meetings in the following manner. 1. Date To be announced. 2. Form of the Meetings: The Bank will hold a meeting with commercial banks group, securities firms group and buy-side group, respectively. 3. Place: The Head Office of the Bank of Japan. 4. Participants: - Persons in charge of bond market issues in financial institutions including those who participate in the "Bond Market Survey". - Director-General of the Financial Markets Department, Head post: BOJ: WILL CONDUCT JGB PURCHASES IN ACCORDANCE WITH DECISION MADE AT MARCH POLICY MEETING post: BOJ TO DECREASE GOVERNMENT BOND PURCHASES post: JAPAN'S ECONOMY SEES MODERATE RECOVERY WITH SOME WEAKNESS OBSERVED: BOJ
- From state.gov|Jun 13, 2024|2 comments
The report issued today by the IAEA makes clear that Iran aims to continue expanding its nuclear program in ways that have no credible peaceful purpose. These planned actions ...
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- From bnnbloomberg.ca|Jun 14, 2024
A senior Bank of Canada official says the unusual measures it took during the pandemic helped boost the economy, but the bar for using quantitative easing again will be very high. ...
- From kitco.com|Jun 14, 2024|16 comments
The established financial world order of the past 50 years is now transitioning to a new and unknown paradigm as the petrodollar agreement between the U.S. and Saudi Arabia was ...
- From ecb.europa.eu|Jun 14, 2024
Paying is a private affair for many people. The idea that tech companies, banks, governments or employers might track payments is not particularly appealing. Cash provides a ...
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- Posted: Jun 13, 2024 11:56pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 97
- From forex24.pro|Jun 13, 2024
- From dailyforex.com|Jun 14, 2024