USD/JPY tumbles after the release of US CPI, down at 130.40s USDJPY Majors Currencies
The US Department of Labor revealed that headline inflation, also known as the Consumer for December, decelerated as expected to 6.5% YoY from 7.1% in November. Meanwhile, the month-over-month data showed inflation reading at -0.1%, lower than the 0% estimated. In the meantime, excluding volatile items inflation data, so-called core CPI came at 5.7% YoY, below the 6% foreseen.
Once data was released, the USD/JPY dropped sharply, as data justified US Federal Reserve downshift to 25 bps rate hikes as the Fed scrambles to curb high inflation. At the same time, the Bureau of Labor Statistics revealed that Initial Jobless Claims for the last week came softer at 205K, less than the 215K petitions expected by analysts, showing the labor market resilience.President Patrick Harker said that 25 bps would be appropriate going forward after the release of the US CPI report.
The USD/JPY key support levels lie at 130.00, followed by the January 12 low of 129.49. On the flip side, the
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/JPY Price Analysis: Consolidation into US CPI, bulls on the prowlUSD/JPY is biased to the upside as per the following technical analysis that would marry with the two Federal Reserve official's comments on Monday th
Read more »
USD/JPY bulls eye a break of key daily resistance with US CPI eyedUSD/JPY is attempting to move higher during a light schedule in the North American session but has run into offers as US stocks climb to fresh highs f
Read more »
USD/JPY Price Analysis: Bears testing bull's commitments at 131.50 ahead of US CPIUSD/JPY is down some 0.5% on the day following the Bank of Japan headlines: BoJ to review side effects of its massive monetary easing at its policy me
Read more »
USD/JPY slides to over one-week low, struggles near 131.00 mark ahead of US CPIThe USD/JPY pair comes under heavy selling pressure on Thursday and continues losing ground through the first half of the European session. The downwa
Read more »
USD/JPY fluctuates ahead of 132.00 on an upbeat mood, soft USDThe USD/JPY clings to gains following the release of the US Federal Reserve (Fed) Chair Jerome Powell’s Speech at Sweeden Riksbank, which did not ackn
Read more »
USD/JPY bulls approach mid-132.00s despite downbeat US Treasury yieldsUSD/JPY picks up bids to 132.45 during early Wednesday’s sluggish trading as market sentiment appears cautiously optimistic. In doing so, the Yen pair
Read more »