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USD/JPY Weekly Outlook: Fed aur BoJ ke Faislay FX Market Volatility ko Tez Karenge
Do central banks aur ek faislay ka hafta USD/JPY ke liye faisla karnay wala hai. Jese hi Fed aur BoJ policy set karte hain kuch ghanton ke farq se, is pair ka 2025 ka trajectory tay hoga.
Highlights:
- Fed aur BoJ ke rate decisions kuch ghanton ke farq se aayenge, USD/JPY mein volatility ko drive karenge.
- 25bps ka Fed cut widely expected hai, lekin focus updated rate projections par shift hoga.
- BoJ ka rate move uncertain hai, 15bps se zyada ka hike yen ke liye positive ho sakta hai.
- Rising US Treasury yields USD/JPY ke upside momentum ko support karte hain.
Overview:
2024 ka aakhri kaam ka hafta USD/JPY traders ke liye pivotal hai, jahan Federal Reserve aur Bank of Japan ke interest rate decisions kuch ghanton ke farq se aayenge. Yeh dono events baqi saari data releases, jaise ke Fed ka core PCE deflator (jo Friday ko release hoga), ke upar overshadow karenge. Market in faislon ka reaction 2025 ke USD/JPY trajectory ko define karega.
Central Bank Decisions Collide:
Yeh raha aglay hafte ke major events ka calendar (US Eastern time ke mutabiq):
- Tuesday: US retail sales aur PCE reports, jo US economy ke health ke baray mein updates denge.
- Wednesday: Fed interest rate decision, jo USD/JPY ke liye bohot ahm hoga.
- Thursday: BoJ ka rate decision, jo volatility trigger karega.
Hawkish Fed Cut ki Umeed?
Ek 25bps ka Fed cut near-certainty hai, lekin market movements Fed ke updated economic aur interest rate projections par depend karenge. Fed chairman Jerome Powell ne last month kaha tha ke labour market ke downside risks kam hain lekin inflation anticipated se zyada persistent hai. Yeh remarks ek hawkish cut ki umeed barhate hain.
September mein, Fed ne 100bps ke rate cuts aur neutral rate 2.9% project ki thi, jo ab overly dovish lagti hain. Aane wale projection mein sirf 2 ya 1 rate cut ki signal di ja sakti hai. Agar Fed 4 rate cuts project karta hai, toh yeh inflation ke khilaf fight khatam karne ke irade par concerns ko barha sakta hai.
Agar long-run dot (median FOMC estimate) 3% ya us se upar shift hota hai, toh US Treasury yields sharply rise karenge, aur yen par pressure barhega.
Bond Traders ke Analysis:
US interest rate futures positioning ek hawkish adjustment ka signal dete hain.
10-year Treasury note future ne decisively rollover kiya hai, aur momentum downside par hai. Is ka matlab rising US Treasury yields aur yen ke against US dollar ki strength hai.
BoJ ka Asar Jaldi Fade Ho Sakta Hai:
BoJ ka decision Thursday ko USD/JPY mein sharp volatility la sakta hai. Agar BoJ 15bps se zyada ka hike karta hai, toh yen strengthen hoga aur USD/JPY downside par jayega. Agar rates unchanged rahte hain, toh ek quick upside reaction ki umeed hai.
Lekin long-term mein, US rate outlook abhi bhi USD/JPY movements ka dominant driver rahega. BoJ ke decision ke initial volatility ke baad, US Treasury yields dobara dominate karenge.
Higher US Yields aur USD/JPY ka Upside:
Daily chart par higher US Treasury yields ka asar obvious hai, jahan USD/JPY ne apna upward push resume kiya hai. Momentum indicators jaise ke RSI aur MACD bullish signals de rahe hain.
Resistance levels:
153.80
155.89
156.75
Support levels:
200DMA
151 (uptrend support)
148.65
Trading ke liye best of luck, aur 2024 ke weekly outlook guides par padhne ka shukriya. Coverage January 2025 ke mid se dobara shuru hogi.
تبصرہ
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