USDJPY

US Open Preview – Trade fears keep market bears around

Posted on June 18, 2018 at 11:41 am GMT

Here are the latest developments in global markets: FOREX: A trade war between the US and China, which could harm global trade, got nasty on Friday when China decided to apply a 25% tariff on several US imports (taking effect on July 6) as a response to an extra 25% tariff imposed by Washington on Chinese imports on the same day. Investors turned more cautious thereafter, pushing dollar/yen down to 110.45 (-0.19%) on Monday, while the dollar index which gauges the [..]

European Open Preview – Markets shrug off escalating trade tensions; Brexit also in the spotlight

Posted on June 18, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was higher by nearly 0.1% on Monday, staying close to the seven-month high it posted last week. The Canadian dollar was 0.15% higher against its US counterpart, trying to recover some of the oil-induced losses it posted on Friday, when it reached a one-year low. STOCKS: US markets closed lower on Friday in the aftermath of tariff announcements from both the US and China, though the magnitude of the downside moves [..]

Week Ahead – Central bank theme continues with BoE, SNB; OPEC to discuss output increase

Posted on June 15, 2018 at 1:35 pm GMT

The central bank theme will continue into the coming week as it’s the turn of the Bank of England and the Swiss National Bank to set monetary policy. Oil and energy stocks will also come into focus as OPEC and Russia meet to discuss whether to relax the oil output cap. It will be a quieter week for economic data, however, with Japanese inflation, flash Eurozone PMIs and New Zealand GDP likely to be the main headline grabbers. Loonie to [..]

US Open Preview – Euro posts modest gains but set for weekly loss; Trump to finalize list of targeted Chinese goods

Posted on June 15, 2018 at 12:01 pm GMT

Here are the latest developments in global markets: FOREX: The euro edged higher by 0.26% versus the US dollar on Friday but was set to post its biggest weekly loss in 19 months after the European Central Bank (ECB) signaled it will keep rates at record lows until late 2019, pushing euro/dollar down by more than 250 pips at one point on Thursday. Meanwhile, Eurozone’s final CPI readings for May were in lie with preliminary estimates, with ECB member, Ewald Nowotny, saying that the central bank’s inflation target of just [..]

Special Report – Trade tensions set to escalate, will markets take notice?

Posted on June 15, 2018 at 11:21 am GMT

The trade narrative has been somewhat overshadowed by geopolitics and central bank meetings lately, but that may change as soon as today. The US is set to announce a revised list of Chinese products it will impose tariffs on, which could provoke a proportional response from China and reignite fears of a trade war. While the situation may escalate in the near-term, potentially unleashing another bout of risk aversion, the end result still appears more likely to be a trade [..]

European Open Preview – ECB announces QE end, but dovish on hikes; trade developments eyed

Posted on June 15, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is up by almost 0.25% on Friday, touching a fresh 7-month high and extending the spectacular gains it posted yesterday as the currency with the heaviest weight in the index – the euro – collapsed after the ECB policy decision (see below). The yen was on the back foot as well, falling by 0.2% versus the dollar, after the BoJ downgraded its inflation view at its own policy [..]

Bank of Japan: rate hikes not yet in the cards – Forex News Preview

Posted on June 14, 2018 at 2:22 pm GMT

The second quarter of the year did not enjoy a good start in Japan, with inflation and business indicators slowing down to warn policymakers that a move from stimulative monetary policies is probably not a good idea this Friday. Early on Friday at a tentative time, the Bank of Japan will make an announcement on interest rates and deliver its rate decision statement. Policymakers are widely expected to refrain from raising borrowing costs, maintaining short-term interest rates at minus 0.1% and keeping their ultra-easy monetary policy in place. This also includes continuing to buy government bonds in order [..]

US Open Preview – Euro bulls run higher ahead of ECB rate decision; BoJ policy meeting eyed too

Posted on June 14, 2018 at 11:33 am GMT

Here are the latest developments in global markets: FOREX: The focus turns to the European Central Bank (ECB) interest rate decision and press conference a bit later on Thursday, with euro/dollar picking up by 0.31% before the meeting. The US dollar dived back from 3-week highs against the Japanese yen on Wednesday, erasing previous gains made after the Fed signaled two more rate hikes this year, bringing the total number of rises to four from the three previously thought. The FOMC raised the Fed funds [..]

European Open Preview – Dollar slips despite ‘hawkish’ Fed; all eyes on ECB

Posted on June 14, 2018 at 7:44 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is nearly 0.3% lower on Thursday, extending losses from the previous session. Although the Fed raised rates and upgraded its rate-path projections to signal one additional hike this year, Chairman Powell played down these hawkish signals in his press conference, sending the US currency lower overall. Meanwhile, haven currencies like the Japanese yen and Swiss franc are higher today, following reports the US may introduce tariffs on China [..]

Technical Analysis – USDJPY eases after touching 3-week high of 110.85

Posted on June 14, 2018 at 6:40 am GMT

USDJPY has come under renewed selling pressure today, falling below the three-week high of 110.85, achieved during Wednesday’s US session. The price failed to end the previous candle in green and fell once again below the 200-day simple moving average (SMA) in the near term. Looking at momentum oscillators on the daily chart though, they suggest further declines may be on the cards in the short-term. The RSI is above its neutral 50 line, detecting negative momentum, and is also [..]

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