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Plus Get Market Makers AI Forex Trading Software At Our Best Price Yet!Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â Í â MARKET MAKERS DAILY BULLETIN Hello investor Traders seem to believe central bankers nowadays. They pared bets on rate cuts this year for the US after Fed Chair Jerome Powell insisted on two more rate hikes for this year. Traders are also listening to Bank of Japan Governor Kazuo Ueda, as well. Rates markets are now forecasting six-month yen overnight-indexed swaps starting in half a year falling below zero for the first time since August. Meaning? Traders believe the BOJâs policy rate is likely to stay at the negative level this year. Just four weeks ago, they thought Ueda would end the BOJâs negative-rate policy as soon as this year. - âThe market has been ahead of itself in expecting a hawkish BOJ move,â said Eiichiro Tani, chief strategist at Daiwa Securities Co. in Tokyo. âThat turns out to have been a mistake.â What helped was the recent wage data that showed weakness. That is good for its fight against inflation. Remember that Japan has been struggling to spark inflation for many years, so any kind of inflation is good news. The BOJ, of course, doesnât want inflation to spiral out of control. However, the BOJ risks even more depreciation to its currency. Jerome Powell plans to hike rates twice this year, making the dollar more attractive versus the yen. Japanese officials already indicated that theyâre worried about the yenâs steep drop. Right now, the BOJ has a minus 0.1% rate on certain deposits that lenders hold at the central bank, and it caps 10-year sovereign yields at 0.5%. That is far below the current rate of above 5% for the US central bank. Some analysts speculate that the BOJ could intervene in the currency soon. But they must be careful. Many other central bankers expect many more rate hikes, and it will keep becoming more difficult for the yen to hold with rates this low. OUR REVOLUTIONARY
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