3min read
Published on: Jul 12, 2024
#Daily Brew
Japan’s Nikkei 225 recorded a drop of 2.45% on 12 July after hitting an all-time high (ATH) of 42,426.77 points on 11 July.
Source: Nikkei 225, CNBC
Meanwhile, Japan’s national currency, Yen, strengthened against the U.S. Dollar, trading below 160 yen against one dollar.
The divergent paths of these two market indicators in Japan followed the announcement yesterday of the June inflation figures in the United States:
The latest readings have increased the possibility of the Federal Reserve cutting interest rates in September.
Consequently, the yen slightly improved its performance as USD/JPY traded as low as 157.43.
Note that last month, the yen had fallen to its 38-year low against the dollar.
There is speculation in the market that Japan’s finance ministry might have intervened in the matter.
The updated conditions in the U.S. market affected the markets in the Asia Pacific (APAC) region.
As far as the charts are concerned, it’s a mixed bag.
This article is for informational purposes only and not intended as investment or financial advice. It contains opinions and speculations that are subject to change without notice.
The author and publisher disclaim any liability for decisions made based on the content of this article. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions.
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