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How have interest rate expectations changed after this week’s events?Indian Rupee targeting new record lows as RBI’s interventions continue to failNo big surprises expected from the BOJ at next week’s meeting – BarclaysGold remains stuck in a tight consolidation as traders await new catalysts for next moveItaly December final CPI +1.2% vs +1.2% y/y prelimOil back in the spotlight as US-Iran showdown may not be overJapan finance minister Katayama continues with the verbal intervention on the yen currencyBOJ finally set to commence selling of its ETF holdingsWhat are the main events for today?Germany December final CPI +1.8% vs +1.8% y/y prelimFX option expiries for 16 January 10am New York cutLive Nasdaq Technical Analysis for TodayJapanese yen remains in focus as we look towards the end of the weekUK statistics office evaluates potential delay to its overhauled jobs survey – reportIt’s been a fairly slow session with very limited economic data and newsflow. There were no real highlights with just the Japanese Finance Minister Katayama continuing with verbal intervention. The JPY spiked in the Asian session as Katayama threatened joint intervention with the US. Since then, it’s just been bouncing around the session highs.In the markets, the most notable mover has been crude oil. Prices have been surging throughout the session in what looks like hedging into the weekend risk. Late yesterday, we got a report from Fox News saying that US air, land and sea military assets were moving to the Middle East and added that US military transit to the Middle East is expected to take a week.Now, we might say that a lot can change in a week and that there’s still time before worrying about an escalation, but you never know what might happen over the weekend with Trump. The other notable movers have been US Treasury yields as the momentum since yesterday’s strong US jobless claims data persisted.In the American session, we get Canadian Housing Starts, US Industrial Production and Capacity Utilization, and the US NAHB Housing Market Index. All these indicators are rarely market-moving unless there are big deviations. We will also have some Fedspeak with Fed’s Bowman and Fed’s Jefferson being the main highlights, but it’s unlikely they will add anything new at this point.
This article was written by Giuseppe Dellamotta at investinglive.com.
💡 DMK Insight
Interest rate expectations are shifting, and here’s why that matters for traders: SOL is currently at $143.88, reflecting broader market sentiment influenced by global economic indicators. With the Indian Rupee hitting new record lows, the Reserve Bank of India’s interventions seem ineffective, which could lead to increased volatility in forex pairs involving the INR. This situation might also create ripple effects in crypto markets, particularly for assets like SOL, as traders seek refuge in digital currencies amid fiat instability. Additionally, the upcoming BOJ meeting could provide clarity on Japan’s monetary policy, potentially impacting global risk appetite. If the BOJ maintains its stance, we might see a stronger USD, which could further pressure emerging market currencies and influence crypto flows. Traders should keep an eye on SOL’s support and resistance levels, especially if it breaks below $140 or pushes above $150. These levels could dictate short-term trading strategies. Watch for any significant news from the BOJ or further developments in the Indian currency market, as these could trigger sharp movements in both forex and crypto markets.
📮 Takeaway
Monitor SOL closely; a break below $140 could signal further downside, while resistance at $150 may offer short-term trading opportunities.
