USDJPY

Week Ahead – Recovery hopes to remain front and centre as Fed to sit out June meeting

Posted on June 5, 2020 at 1:07 pm GMT

As global markets set their sights on a quick recovery from the COVID-19 crisis, key economic data for April – when the pandemic impact is thought to have peaked – will likely be sidelined next week. The Federal Reserve might also struggle to attract the usual attention when it holds a scheduled meeting as investors are not anticipating any new policy action. But as safe havens like the dollar and yen give way to virus-battered currencies, there are plenty of [..]

Daily Market Comment – Euro soars after ECB’s surprise; dollar extends slide ahead of NFP

Posted on June 5, 2020 at 8:31 am GMT

Euro skyrockets after ECB increases pandemic stimulus by more than expected Dollar stuck in a downward spiral, unlikely to be saved by US jobs report Oil clings on to gains despite OPEC confusion ECB takes out the bazooka again The resurgent euro, which has been rallying on the back of recovery hopes for the Eurozone economy, got another shot in the arm on Thursday after the European Central Bank delivered a bigger-than-expected stimulus. The ECB boosted its pandemic emergency purchase [..]

Daily Market Comment – Dollar slumps as recovery hopes gather pace

Posted on June 3, 2020 at 8:38 am GMT

Increasing optimism of strong economic recovery pummel the dollar Yen loses shine too, but gold holds within range as US and China risks linger Loonie nears 3-month high as BoC and OPEC+ decisions eyed Markets shrug off US unrest, look to recovery After a brief scare on Tuesday, it didn’t take long for risk appetite to get back into full mode as investors largely ignored growing unrest in the United States to instead focus on the increasing signs that a [..]

Technical Analysis – USDJPY jumps near 2-month high after sharp increase

Posted on June 3, 2020 at 6:35 am GMT

USDJPY increased to an almost two-month high of 108.87 earlier today after the aggressive buying interest on Tuesday’s session, surpassing the flat 200-day simple moving average (SMA) and the upper Bollinger band. Also, the 20- and 40-day SMAs posted a bullish crossover, confirming the recent upside rally in the short-term. According to the momentum indicators, the RSI is slowing down in the bullish territory, while the MACD is holding above trigger and zero lines but is failing to continue its [..]

Daily Market Comment – US protests rage on, start to weigh on dollar

Posted on June 2, 2020 at 8:28 am GMT

Trump inflames protests, threatens martial law as US stocks begin to take notice Dollar extends slide as recovery hopes keep positive sentiment intact Aussie flirts with $0.68 after RBA, pound shoots above $1.25 despite Brexit risks Oil steady ahead of OPEC+ meeting Market unease as protests ravage US cities Mass protests continue for a seventh day across major cities in the United States, causing widespread damage and looting in what is another blow for businesses already crippled by the shutdowns [..]

Technical Analysis – USDJPY retreats near 100-period SMA; neutral picture

Posted on June 1, 2020 at 10:00 am GMT

USDJPY has reversed back down after finding resistance at slightly below the 108.00 handle. The momentum indicators are pointing to a neutral to negative bias in the short term with the RSI just below 50 and the stochastic oscillator deep below the overbought area. Further losses below the 100-period SMA should see the 38.2% Fibonacci retracement level of the upward wave from 105.98 to 108.10 at 107.30. A drop below this area would reinforce the bearish structure in the short-term [..]

Daily Market Comment – Hong Kong relief weighs on dollar and yen but gold lifted by US protests

Posted on June 1, 2020 at 8:33 am GMT

Trump’s mild response over Hong Kong sparks relief; stocks surge, dollar sags Aussie leads the gainers as RBA meeting not seen spoiling the rally But escalating protests across US pose new threat to recovery hopes; gold up Other risks also lurk as Brexit talks, ECB meeting and US jobs report ahead Trump refrains from tough Hong Kong sanctions Widespread relief in financial markets that President Trump stopped short of announcing damaging sanctions on China buoyed risk assets on the first [..]

Daily Market Comment – Stocks ease off ahead of Trump’s Hong Kong decision; dollar skids after Fed comments

Posted on May 29, 2020 at 8:18 am GMT

Stocks drift lower, yen edges up as markets await Trump’s response over Hong Kong But dollar hits 2½-month low on soaring euro and Fed hints of yield curve control Powell speech and US spending data also eyed later today Sino-US relations under strain Markets are bracing themselves for US President Trump’s press conference expected later today for his decision on what actions to take against China over Hong Kong. The Chinese parliament yesterday passed the controversial national security bill, which [..]

Daily Market Comment – Hong Kong tensions sink yuan but stocks yet to flinch

Posted on May 28, 2020 at 8:57 am GMT

Hong Kong’s special status with US under threat after Pompeo warning Yuan and Hong Kong shares under pressure but optimism prevails elsewhere Euro surges after European Commission proposes €750 billion rescue fund US and China heading for another clash Hong Kong looks set to lose the special status it enjoys with the United States on a range of areas, including trade, after US Secretary of State Mike Pompeo said the Trump administration no longer considers it to be autonomous from [..]

Daily Market Comment – Caution sets in after Trump signals Hong Kong action

Posted on May 27, 2020 at 8:41 am GMT

Dollar firms as Trump hints at end-of-week response against China over Hong Kong But stocks mixed as US-China tensions fail to dent recovery optimism EU divisions resurface, put a brake on euro’s advances US preps Hong Kong sanctions: only Asia takes note Asian stocks were under pressure on Wednesday as US President Donald Trump gave his clearest signal yet that his administration is planning a response to China’s tightening of its grip on Hong Kong. In a White House press [..]

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