USDJPY

Daily Market Comment – Fed talks down negative rates, dollar likes it

Posted on May 12, 2020 at 8:27 am GMT

Dollar jumps as Fed officials downplay prospect of negative rates in the US Stocks slip as growing fears of second wave of infections weigh on sentiment Central banks in focus: more Fed speakers on the way, RBNZ decision awaited US yields rise as negative rate expectations fade The US dollar held onto its gains on Tuesday after surging yesterday on the back of rising Treasury yields. The yield on two- and five-year Treasury notes hit record lows on Friday as [..]

Technical Analysis – USDJPY touches upper boundary of descending channel above 107.00

Posted on May 11, 2020 at 9:15 am GMT

USDJPY has reversed back up again, above 107.00, after finding support at the eight-week low of 105.95 achieved last week. The price is in the process of penetrating the downward sloping channel to the upside, shifting the bearish structure to neutral. The price is ready to touch the 23.6% Fibonacci retracement level of the down leg from 111.70 to 105.95 at 107.33 and the 107.50 resistance, remaining above the short-term simple moving averages (SMAs). Furthermore, the technical indicators are confirming this view with the RSI approaching [..]

Daily Market Comment – Dollar and stocks crawl higher but markets on alert amid virus spike

Posted on May 11, 2020 at 8:33 am GMT

Dollar gains versus yen, stocks edge up as lockdown easing spurs bets of economic rebound But fears of second virus wave keep risk appetite in check, gold ticks higher Doubts about Trump’s commitment to US-China trade deal adds to subdued tone Safe-haven yen takes a tumble as more economies reopen The US dollar appeared to lose some of its safe-haven allure on Monday as signs of economic life in many parts of the world shifted the focus to the improving [..]

Week Ahead – RBNZ may increase QE; Aussie, UK and US data to deepen that sinking feeling

Posted on May 8, 2020 at 9:48 am GMT

There can be no hiding from the awful economic data that is now pouring in from all angles as we move well into the second quarter. Australian jobs, UK Q1 GDP, and US retail sales and inflation numbers will be the next key releases to showcase the virus turmoil. But amid growing optimism about the pandemic easing, the Reserve Bank of New Zealand will likely err on the side of caution at its policy meeting, posing a downside risk for [..]

Daily Market Comment – Stocks soar ahead of worst NFP ever on bets Fed will go negative

Posted on May 8, 2020 at 8:42 am GMT

US nonfarm payrolls today will be a horror show, but will markets care? Stocks set for more gains on trade news and bets Fed will cut to negative Dollar and yen retreat amid risk-on mood, but losses limited Commodity currencies climb, loonie eyes its own jobs report Worst nonfarm payrolls ever, by far The disconnect between sanguine financial markets and an imploding real economy grows larger by the day, as bets for more and more stimulus are leading Wall Street [..]

Daily Market Comment – Yen smiles as stocks struggle for direction

Posted on May 7, 2020 at 9:40 am GMT

Yen and dollar shine amid dire US and EU data, trade tensions, bankruptcy fears Stocks close lower, but solid Chinese trade numbers lift futures and aussie Pound perks up after BoE keeps stimulus powder dry, but risks linger US jobless claims on the menu today; can equities continue to defy gravity? Yen and dollar stand tall as traders weigh risks Stock markets have been partying like central bankers invented a virus vaccine in recent weeks, but some realism may be [..]

Daily Market Comment – German ultimatum sinks euro, yen capitalizes

Posted on May 6, 2020 at 10:57 am GMT

Euro crumbles after German courts challenge ECB stimulus Outlook still bleak, this is the last thing the fragile Eurozone needs Stocks trim gains on Fed gloom and Congressional ‘pause’, yen climbs Today: ADP data will give a taste of what’s on Friday’s NFP menu Euro falls apart as Germany challenges ECB The single currency came under heavy fire yesterday, after Germany’s top court ruled that the ECB’s asset purchases were unconstitutional. The judges gave the European Central Bank three months [..]

Technical Analysis – USDJPY loses ground, magnetized by lower Bollinger band

Posted on May 6, 2020 at 6:40 am GMT

USDJPY appears to be losing footing at the 106.44 level, that being the 50.0% Fibonacci retracement of the up leg from the 41-month low of 101.17 to the 111.71 high, tracing the lower Bollinger band around 106.21. The current negative push is confirmed by the downward slope in the 50-day simple moving average (SMA) as well as the increase in negative momentum reflected in the technical oscillators. The MACD, in the negative zone, is decreasing below its red trigger line, [..]

Daily Market Comment – Wall Street snaps back, but FX not convinced

Posted on May 5, 2020 at 11:04 am GMT

US stocks bounce back on medical headlines, rising oil prices, tech strength But FX market signals caution – yen and dollar hold strong, gold too Are investors piling into tech because of re-opening fears and US-China tensions? Euro suffers after German court decision on ECB asset purchases Stock markets storm higher Wall Street continues to defy economic gravity, with all three major US stock indices recouping early losses on Monday to close higher, brushing aside the simmering tensions between Washington [..]

Daily Market Comment – Specter of trade war returns to haunt stocks

Posted on May 4, 2020 at 9:15 am GMT

US stocks drop on Amazon earnings, fall further as US-China tensions flare up Finally discounting the long-term impact on consumption, psychology, and (de)globalization? Yen and dollar shine as risk aversion returns, aussie and kiwi suffer US-China tensions reintroduce stocks to gravity The stimulus-fueled bear rally in global stocks seems to be running on fumes, with optimism evaporating after some distressing remarks by Amazon cast doubt on the sustainability of this heavily concentrated market, and the US-China trade war came back [..]

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