US growth and inflation data may provide the next USD catalyst. What does this mean for USD/JPY amid the threat of a coordinated FX intervention effort to strengthen the yen. Can tech earnings revive risk sentiment?

(AI Video Summary)

In this week's analyst chat, Richard Snow and Daily FX’s Nick Cawley discuss the recent complexities in financial markets, highlighting the mixed data from the UK, including persistently high services inflation and wage growth, juxtaposed with a weakening jobs market. They delve into potential Bank of England rate cuts, influenced by these economic indicators and the dovish outlook from Andrew Bailey. Furthermore, the conversation turns to the ECB's anticipated rate cuts, driven by weak Eurozone growth expectations, and the contrast with the Fed's position, potentially necessitating rate hikes due to robust fundamental data. The discussion also covers the impact of volatility, particularly in currency pairs like EUR/USD and USD/JPY, emphasizing risk management in trading. They discuss gold’s potential to break past the $2,400 mark, indicating a bullish outlook among investors towards safe-haven assets amidst currency devaluation concerns and geopolitical tensions. Lastly, they touch on the anticipation of upcoming tech earnings and their potential influence on equity markets, suggesting a focus shift towards corporate performance amidst ongoing global uncertainties

Source https://www.dailyfx.com/analysis/will-us-growth-and-inflation-provide-the-next-leg-higher-for-the-greenback-20240419.html



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