{"id":1727,"date":"2022-12-20T08:29:48","date_gmt":"2022-12-20T08:29:48","guid":{"rendered":"https:\/\/forex.sa.com\/market-update-december-20-pre-christmas-surprise-from-boj\/"},"modified":"2022-12-20T08:29:48","modified_gmt":"2022-12-20T08:29:48","slug":"market-update-december-20-pre-christmas-surprise-from-boj","status":"publish","type":"post","link":"https:\/\/investmentbell.com\/sv\/news\/forex-news\/market-update-december-20-pre-christmas-surprise-from-boj\/","title":{"rendered":"Market Update \u2013 December 20 \u2013 Pre-Christmas Surprise from BOJ"},"content":{"rendered":"

The USD Index<\/strong> is betwixt and between amid various drivers. It closed at 104.706, inside the day\u2019s 104.931 to 103.50<\/span> range. The advent of the holidays and year end<\/strong> have lightened volume<\/strong> measurably too, exacerbating some of the moves in the markets. Stocks are in red <\/strong>against Decembers\u2019 seasonality. Treasuries<\/strong> fell today<\/strong>, especially at longer tenors, after the Bank of Japan<\/span> unexpectedly lifted a cap on 10-year<\/strong><\/span> yields<\/span> and unleashed a sell-off across global bond markets.
\nYields<\/strong>: 10yr rose to 3.71% and 30-yr to 3.72%.
\nThe S&P 500<\/strong> has risen in 73% of December since 1928, according to Dow Jones Market Data. As of Monday\u2019s close, the S&P 500 had fallen 6.4% in December.
\nEUR<\/strong> \u2013 tumbling between 1.0575-1.0650.<\/span><\/span>
\nJPY<\/strong> \u2013 surged to <\/strong>132.66<\/span><\/strong> a<\/span><\/span>f<\/span>ter the BOJ<\/strong> said it would review its yield curve control policy and widened the trading band for the 10-year government bond yield in an unexpected tweak. (Policy is unchanged)
\nAUD<\/strong> & NZD<\/strong> drifted also after BOJ announcement.<\/a>
\nStocks \u2013<\/strong> The NASDAQ<\/strong> tumbled -1.49%, with the S&P 500<\/strong> falling -0.90%, while the Dow<\/strong> slid -0.49%. Nikkei closed with a -2.5% loss.
\nUSOil \u2013<\/strong> drifts to $75.20 <\/strong><\/span>from $76.55.<\/strong><\/span>
\nGold \u2013 <\/strong>higher but still struggling to break the $1,800.<\/span>
\nBTC<\/span> <\/strong>\u2013 retested again the $16,200 floor<\/span>. \u2013 Sam Bankman-Fried to agree to US extradition after Bahamas court hearing.<\/span><\/p>\n

Today <\/strong><\/span>\u2013 US Housing Starts & Building Permits, Canadian Retail Sales, EU Consumer Confidence and NZ Trade data.<\/p>\n

<\/a><\/p>\n

Biggest FX Mover<\/strong> @ (07:30 GMT) AUDJPY <\/strong>(-3.32%<\/span>). Broke 8-month support extending to 88.30, below 50-week EMA. Intraday <\/span><\/span>MAs keep pointing lower, MACD histogram & signal line negative and falling. RSI 22 & flat, H1 ATR 0.4920, Daily ATR 1.1611.<\/p>\n

Click <\/strong>here<\/strong><\/a> to access our Economic Calendar<\/strong><\/p>\n

Andria Pichidi<\/strong><\/p>\n

Market Analyst<\/strong><\/p>\n

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