USD/JPY Forecast: the storm in the stock markets has a negative impact of pair

jy-l3The storm in the stock markets of the planet has a negative impact on the value of USDJPY. The U.S. Treasury yield curve temporarily inverted on Wednesday for the first time since February 2006 – metric widely viewed as a classic recession signal. The U.S. curve has inverted before every recession in the past 50 years. The inversion – where shorter-dated borrowing costs are higher than longer ones – saw U.S. 2-year note yields rise above the benchmark 10-year yield, which fell to 1.56%. U.S. 30-year yields also plunged, dropping to a record low of 1.995%.

Trading recommendation: Sell 106.15 and take profit 105.72.

Classic recession signal

Origin: FreshForex

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