Oil and Japan Making Moves

Oil could see higher moves

Oil on the Move Higher

WTI Crude has made a move higher over last number of weeks. Breaking above the 9 and 21 day EMA on a weekly basis with a price target of $94. This is inflation. The more it cost a the pump, the less the consumer has in their pockets.

XLE on a weekly chart may see some pull back towards support. Could create a buying opportunity for a possible move higher. Presently above 9 day and 21 day EMA.

Bank of Japan Makes Big Move on Interest Rate Policy

The Bank of Japan has introduced flexibility into its yield curve control, effectively expanding its tolerance for 10-year Japanese government bond yields. This move is seen as a way to enhance the sustainability of the current easing framework, while also allowing the BoJ to respond to upside risks to inflation. Some analysts believe that this could be the start of a more significant tightening cycle, but others believe that the central bank is still not ready to raise interest rates. Only time will tell what the long-term implications of this move are, but it is clear that the BoJ is starting to move away from its ultra-loose monetary policy.

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