Indonesian Consumer Confidence improves to 124.2 in Nov, Rupiah hits five-day highs

USD/JPY sees some dip-buying in the Asian session on Wednesday, though it remains confined within a multi-week range near 158.50 as the uncertainty over the timing of the next BoJ rate hike keeps Japanese Yen bulls on the defensive. Meanwhile, hawkish Fed expectations, bolstered by inflation risks stemming from volatile oil prices, underpin the US Dollar. However, looming intervention fears could limit JPY losses and cap the currency pair.

Netflix, Meta Platforms and Tesla all report earnings this week, and the market’s mood rides on three reports that could easily reset the tone for the entire market heading into the holiday season. Investors are heading into this stretch with a mix of anticipation and unease because each company represents a different pillar of market sentiment. All three have much to prove.