USDJPY

European Open Preview – Markets mostly calm as US fires first trade shot; US jobs data eyed

Posted on July 6, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is down by almost 0.2% on Friday, ahead of the release of the US employment report for June later today. Meanwhile, the safe-haven Japanese yen is on the back foot, with investors appearing largely unfazed by a possible escalation in the US-China trade saga (see below). STOCKS: US equity markets closed higher on Thursday, undeterred by the looming threat of the US and China exchanging tariffs on Friday. The Nasdaq Composite led [..]

Special Report – How have major currencies fared so far in 2018, and what lies ahead?

Posted on July 5, 2018 at 3:25 pm GMT

Following the completion of the second quarter of the year, the dollar is standing higher against most of its major peers, drawing support from a more hawkish Fed and a US economy firing on all cylinders. Below, we outline how some of the most widely-traded currency pairs have performed thus far in 2018, and what may lie ahead in an environment characterized by trade tensions, political uncertainties, and monetary policy divergences. Euro/dollar – Down, but not out The world’s most [..]

US Open Preview – German data and trade hopes send euro to 1-week highs; FOMC meeting minutes in focus

Posted on July 5, 2018 at 11:30 am GMT

Here are the latest developments in global markets: FOREX: The dollar was erasing yesterday’s losses made against the Japanese yen, last seen at 110.62 (+0.16%) as investors were optimistic that the FOMC meeting minutes due later today would deliver an overall hawkish message after June’s gathering signaled four rate hikes in total this year instead of three previously. The dollar index though was on the backfoot at 94.30 (-0.37%), pressured by a stronger euro and pound. Euro/dollar rallied significantly to touch a more-than-a [..]

US jobs report sidelined by trade frictions but wage data could still set dollar path – Forex News Preview

Posted on July 5, 2018 at 10:19 am GMT

The nonfarm payrolls report will be eagerly awaited on Friday at 12:30 GMT for the latest indications on the United States labour market. However, with Sino-US trade tensions running high and tariffs on $34 billion worth of Chinese imports and counter tariffs of similar value on US products due to come into effect the same day, the jobs report may fail to generate the usual amount of fanfare. That is not to say that any surprises to the data won’t [..]

European Open Preview – ECB speculation gives euro a helping hand; Fed minutes in focus

Posted on July 5, 2018 at 7:44 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is down by 0.3% on Thursday, ahead of the release of the minutes from the June FOMC meeting later today. Meanwhile, the euro is recovering ground following media reports that ECB officials think the market is underestimating the Bank’s rate-hike path. STOCKS: US equity markets remained closed in celebration of the Independence Day public holiday yesterday. Futures suggest the S&P 500, Dow Jones, and Nasdaq 100, are set to open [..]

Technical Analysis – USDJPY hovers above SMAs; bullish extension is expected

Posted on July 5, 2018 at 6:34 am GMT

USDJPY is on course to set a bullish day after two straight negative sessions. The price surpassed the moving averages in the previous week and challenged a fresh six-week high of 111.12 before the slip to the 20-day simple moving average (SMA). The momentum indicators are supportive of the neutral to bullish picture in the near-term. Technically, the RSI indicator is sloping slightly to the upside in the positive territory, while the MACD oscillator is flattening above the zero line and near [..]

US Open Preview – Investors look to safe havens as trade worries linger

Posted on July 4, 2018 at 11:53 am GMT

Here are the latest developments in global markets: FOREX: With US markets being closed for Independence Day and trade risks discouraging investors from buying the dollar ahead of a deadline on Friday, when US import tariffs on $34 billion Chinese goods will take effect, the dollar was marginally down on the day against the safe-haven Japanese yen at 110.47 (-0.10%). The dollar index was flat at 94.67 as the euro turned weaker, whereas the pound continued to trade in positive territory. Euro/dollar slipped to 1.1634 [..]

European Open Preview – Sterling rebounds, turns its sights to UK services PMI

Posted on July 4, 2018 at 7:41 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is down by a little over 0.2% on Wednesday, extending some of the losses it posted yesterday on the back of declining longer-term US Treasury yields. The yen enjoyed some haven demand amid trade tensions, while the pound was buoyed by some hawkish rhetoric from the BoE and an encouraging UK construction PMI. STOCKS: Wall Street gave up early gains on Tuesday, to close lower overall. The drop was led by [..]

Dollar eyes Fed minutes ahead of jobs report and tariffs – Forex News Preview

Posted on July 3, 2018 at 2:00 pm GMT

The Fed will release the minutes from its June policy meeting on Thursday, at 1800 GMT. Not only did policymakers raise interest rates for a second time this year at that gathering, they also revised higher their rate-path projections to signal a total of four hikes in 2018, from three previously. The minutes may shine a fresh light on how confident the Committee as a whole is on that prospect, with any conversation on trade frictions also attracting attention. The [..]

US Open Preview – Dollar index gives up gains; euro, pound up

Posted on July 3, 2018 at 11:52 am GMT

Here are the latest developments in global markets: FOREX: Ahead of the Independence Day celebration in the US on Wednesday and the FOMC meeting minutes on Thursday, dollar/yen paused at 110.87 (-0.01%) early in the European session, while the dollar index which gauges the greenback’s strength against a basket of six major currencies was weaker at 94.67 (-0.37%) as the euro and the pound were attracting some interest. Euro/dollar fully recovered yesterday’s losses as the leading coalition parties in Germany managed on Monday to break [..]

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