USD/JPY struggles to surpass 131.00 as investors await US ISM PMI for fresh cues – by Sagar_Dua24 USDJPY SP500 BOJ PMI DollarIndex
S&P500 futures are expected to react to weaker economic projections from the IMF.
For the achievement of higher inflation targets by the BOJ, the central bank needs to infuse more liquidity into the economy.is facing firmer barricades in overstepping the critical resistance of 131.00 in the early Tokyo session. The asset is hovering around a 12-day low and is therefore expected to remain on the tenterhooks.
The risk profile is still confusing as the market may take sufficient time to settle after a festive mood and a long weekend. S&P500 futures are displaying subdued performance as the equity domain of the United States will react to the economic projections provided by the International Monetary Fund .
Managing Director Kristalina Georgieva of the IMF cited on the CBS Sunday morning news program that “For much of the global economy, 2023 is going to be a tough year as the main engines of global growth - the United States, Europe, and China – all may experience weakening activity,”. will display the mood of the market. The major trigger that will impact the USD Index will be the United States ISM Manufacturing PMI data.
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