Daily Alert – Wednesday 28th February 2024: Japan225 developing a pullback

Mark NugentDaily Alert, February 2024

Daily Alert – Wednesday 28th February 2024: Japan225 developing a pullback

Good afternoon.

We had another very quiet day yesterday with only the JPY and USD managing to register a movement on our risk sentiment calculator.

US annualised GDP missed to the downside at 3.2% versus an expected 3.3%. Still, most countries, if not all countries, would kill to have that level of economic growth.

Over in New Zealand, the central bank held the interest rate at 5.5% and made a significant move to the dovish side as they revised their peak rate downwards.

Ozzy inflation missed to the downside. This is good news in the fight against inflation but, of course, the currency fell.

I am keeping my eye on the Japan225 as a pullback develops…

I’ll be back tomorrow.

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