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USD/JPY Forecast: Market Eyes Services PMI for Clues on Yen and BoJ Policy
On Wednesday, July 24, Services PMI numbers from Japan will influence the USD/JPY and the Bank of Japan rate path. Economists forecast the Jibun Bank Services PMI to increase from 49.4 in June to 49.9 in July.A higher Services PMI may raise investor expectations of a July Bank of Japan rate hike. The services sector contributes about 70% to the Japanese economy. Additionally, investors should consider the sub-components, including employment and prices. Rising job creation and input/output prices could further increase expectations of a July BoJ rate hike. The Bank of Japan needs the services sector to fuel headline ... (full story)
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- Posted: Jul 23, 2024 7:45pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 3,022
