USDJPY

Week Ahead – Emperor dollar reigns supreme amid market apocalypse

Posted on March 20, 2020 at 1:47 pm GMT

The virus pandemic continues to wreak havoc on the global economy and financial markets. Stocks are in freefall, commodity currencies are getting hammered, and even safe havens like gold can’t shine as the market meltdown is forcing major funds to deleverage by ‘selling everything’. In this panicky environment, investors are unlikely to pay much attention to economic data, though the US initial jobless claims might be an exception. The big winner from all the chaos is the greenback, which has [..]

Daily Market Comment – Markets calmer after deluge of stimulus; dollar retreats

Posted on March 20, 2020 at 10:01 am GMT

Stocks edge higher after a savage week as emergency responses stepped up Dollar pulls back but dash for cash likely not over just yet Pound and aussie bounce higher after BoE and RBA announce QE Stocks stage a comeback; will it last? Global stocks enjoyed a much-needed reprieve from the fierce selling pressure of the past two weeks on Friday as the flurry of central bank and government interventions finally appeared to have some effect in relieving investor anxiety. All [..]

Technical Analysis – USDJPY bulls may not give up battle yet; look for support near trendline

Posted on March 20, 2020 at 8:54 am GMT

USDJPY reversed its massive sell-off near a familiar support level of 101.17, which was active during the 2013-2016 period, and accelerated above its simple moving averages (SMA) and back towards the 111.00 area. On Thursday, the pair also managed to return above the broken ascending trendline, casting doubt on the prospect of a down-trending market, while all momentum indicators further strengthened, with the RSI gaining ground above its 50 neutral mark, the MACD increasing distance above its signal line and the Stochastics [..]

Daily Market Comment – Dollar surges amid race for cash; stocks tank again

Posted on March 19, 2020 at 9:48 am GMT

Virus panic drives investors to cash, pushing dollar to 3-year high No end in sight to stock market rout despite plethora of stimulus ECB and RBA hold emergency meetings Yen and gold struggle; bonds suffer rare sell-off Pound crashes to 1985 low; aussie, kiwi and loonie also sink Cash is king The market turmoil over the growing coronavirus pandemic continues to deepen with investors ramping up their stockpiling of cash, with the panic sell-off leaving no casualties, not even traditional [..]

Technical Analysis – USDJPY recovers after touching US election low

Posted on March 18, 2020 at 2:19 pm GMT

USDJPY fell sharply in recent weeks to touch 101.20, a level last seen on November 9, 2016 – the day Donald Trump was elected US president. The pair found fresh buy orders near that zone and then staged a major recovery, holding above a short-term uptrend line. On the four-hour chart, the price structure now consists of higher highs and higher lows, so the very near-term outlook seems to have turned positive. A break back above 108.50 could confirm that. [..]

Virus update: In the eye of the storm – Special Report

Posted on March 17, 2020 at 3:48 pm GMT

With world stocks collapsing and entire economies going into lockdown, everyone is wondering how much worse this crisis can get and how long it will last. In a nutshell, the situation will probably get worse before it gets better, both in financial markets and the real economy, as most of Europe and America are still far from ‘peak virus’. Ultimately, this shock will subside and given the overwhelming stimulus measures lately, the market rebound could be meteoric. However, we might [..]

Daily Market Comment – Stocks steadier after crashing again; dollar also firmer

Posted on March 17, 2020 at 9:17 am GMT

Wall Street suffers biggest drop since 1987 crash as investors flee stocks Growing virus response still not enough to quell market turmoil Gold remains on a down path as panicky investors turn to cash Pound underperforms along with commodity and EM currencies Bloodbath on Wall Street There was no escaping the market carnage on Monday as extraordinary moves by the Federal Reserve and other central banks to restore investor confidence failed spectacularly. Shares on Wall Street plunged by the most [..]

Daily Market Comment – Stimulus bonanza fails to calm markets as Europe goes on lockdown

Posted on March 16, 2020 at 9:39 am GMT

Fed slashes rates again and relaunches QE, but markets still gripped by panic RBNZ and BoJ also announce emergency moves More fiscal stimulus on the way but will it be enough? Dollar and stocks slip as China output slump fuels recession worries Fed cuts rates to 0% but investors fear the worst An unprecedented wave of central bank intervention was unable to restore order in the markets on Monday even as policymakers stepped up their response to the coronavirus crisis. [..]

Week Ahead – Pressure on Fed and BoJ to pump more stimulus; SNB meets too

Posted on March 13, 2020 at 1:50 pm GMT

As the coronavirus pandemic continues to wreak economic havoc across the globe, the pressure is on central banks to provide more stimulus amid the fast deteriorating outlook. The US Federal Reserve has already made an emergency rate reduction and is widely anticipated to follow it up with another cut next week. The Bank of Japan will be a more interesting one, however, as, although some action is certain, investors aren’t quite sure what form it will take. One central bank [..]

Daily Market Comment – King dollar reclaims throne, stocks disintegrate despite Fed bazooka

Posted on March 13, 2020 at 12:04 pm GMT

Wall Street plunges 10% as market panic intensifies, powerful Fed intervention doesn’t help Dollar outperforms amid flight to safety, gold savaged by margin calls ECB doesn’t cut rates, euro pops higher but then crumbles as Lagarde says she’s not Draghi Pandemonium worsens despite Fed restarting QE Global markets are living a nightmare. The fear that enveloped stocks evolved into full-blown panic on Thursday, with the Dow Jones falling by a staggering 10% as investors continued to liquidate everything, frightened or [..]

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