Snapshot: The Nikkei 225 is currently trading at 59917, down 1.01% or 614 points, as markets digest the implications of the Bank of Japan’s latest monetary policy statement. While the BoJ held rates steady at 0.75%, growing internal debate over inflationary pressures has spooked investors.
- The Nikkei is testing the 59702 level, a break below which could signal further downside.
- Watch for any headlines regarding the Iran-US negotiations, which could amplify risk-off sentiment.
Bias into NY: Expect continued pressure on the Nikkei as the session progresses, with the potential for further declines towards 59500 if US yields continue their upward trajectory, as the US 10Y is currently at 4.371%.