USDJPY

Daily Market Comment – Stocks tank as Trump bans flights from Europe; ECB may disappoint

Posted on March 12, 2020 at 10:10 am GMT

ECB might not cut rates today – could introduce targeted lending measures and ramp up QE Stocks plunge, oil retreats after Trump bans all travel from Europe Yen back in vogue, but gold doesn’t get the memo Dollar holds firm despite risk aversion, reclaiming safe-haven status ECB may disappoint markets today, push euro briefly higher The European Central Bank (ECB) will have a tough balancing act on its hands when it announces its policy decision at 12:45 GMT today. On [..]

Technical Analysis – USDJPY extends selling interest; indicators signal further weakness

Posted on March 12, 2020 at 7:58 am GMT

USDJPY continues the selling interest underneath the 104.00 psychological level and the 23.6% Fibonacci retracement level of the bearish move from 112.20 to 101.15. The RSI indicator is pointing down again and the MACD oscillator is extending its bearish momentum well below its trigger and zero lines, suggesting a sharper bearish structure. The selling pressure could accelerate again if the market deteriorates below the 23.6% Fibo of 103.75, edging towards the 41-month low of 101.15. Such a move could next bring [..]

Dollar crushed from market meltdown over COVID-19; can fiscal policy come to the rescue? – Special Report

Posted on March 11, 2020 at 3:25 pm GMT

As stock markets reel from the coronavirus, and investors flee to safe havens such as the yen and gold, the US dollar has turned out to be an unexpected casualty of the market turmoil. But after emergency rate cuts failed to lift sentiment, some movement on the fiscal policy front has managed to soothe investor nerves, at least temporarily, giving a small reprieve to tumbling bond yields, and in turn the greenback. Stocks suffer steepest losses since financial crisis Fears [..]

Daily Market Comment – Pound shrugs off emergency BoE rate cut

Posted on March 11, 2020 at 10:21 am GMT

Sterling recovers after BoE cut on hopes for a stimulative budget later today Market mood sours again as news flow stays negative and Trump’s stimulus plans underwhelm Dollar stages a comeback as US Treasury yields rebound somewhat BoE mimics Fed, slashes rates between meetings The Bank of England (BoE) took a page out of the Fed’s book today, unexpectedly cutting rates by 50 basis points from 0.75% to 0.25% between scheduled meetings to negate the economic impact of the [..]

Daily Market Comment – Markets calm down after the cataclysm, but for how long?

Posted on March 10, 2020 at 1:14 pm GMT

Risk sentiment recovers on Tuesday, after a catastrophic Monday However, the rebound is relatively modest – a sign that concerns remain and that this may be a temporary calm Dollar stages a comeback, US Democratic primary continues today Yen pulls back, stocks recover on ‘turnaround Tuesday’ After a wild session on Monday that saw riskier assets crash and burn, with the S&P 500 plummeting a stunning 7.6% and crude oil sinking by nearly 25%, markets have calmed down somewhat today, [..]

Softer US inflation may build case for more aggressive easing by Fed – Forex News Preview

Posted on March 9, 2020 at 3:32 pm GMT

Consumer and producer price figures – due Wednesday and Thursday, respectively, at 13:30 GMT – will be the main release out of the United States this week. But with the economic climate being presently overrun by the sweeping coronavirus epidemic, the data will probably be overlooked as policymakers pay more attention to forward looking indicators. It also means there’s likely to be more pain to come for the tumbling US dollar, which has been battered by the collapse in Treasury [..]

Daily Market Comment – Yen explodes higher, oil crashes as the OPEC+ wars begin

Posted on March 9, 2020 at 11:02 am GMT

Investors in panic mode as oil collapses, sending shockwaves through markets Global stocks plunge, commodity currencies flash crash, dollar in agony as markets price in more Fed cuts Japanese yen the main winner, gold briefly tops $1700, euro capitalizes Markets in mayhem as oil price war compounds virus fears It’s been a dramatic beginning to the week in financial markets, with risk aversion being the only game in town as the weekend saw the OPEC+ alliance come to an end, [..]

Week Ahead – Will the divided ECB underdeliver?

Posted on March 6, 2020 at 2:48 pm GMT

The main event next week will be the European Central Bank (ECB) policy meeting, where markets are pricing in a 90% probability for a rate cut even though economists forecast no action. It’s a close call, but the fragmented ECB may opt for more targeted lending measures to shield the economy from the virus fallout, not a rate cut. There’s also a raft of economic data coming up, alongside the UK government budget. All told, markets will continue to dance [..]

Daily Market Comment – Dollar and stocks sink on growing virus gloom; NFP may not help much

Posted on March 6, 2020 at 9:45 am GMT

Dollar and stocks take another battering as virus fears grip markets Investors continue to flock to safety, euro a surprise beneficiary US jobs report not expected to trim Fed rate cut expectations; OPEC eyed too No reprieve for dollar sell-off The US dollar extended its losing streak on Friday, skidding to two-month lows against a basket of currencies and 6-month lows versus the safe-haven yen. Contagion fears continue to spread panic in the markets as the number of coronavirus cases [..]

Daily Market Comment – Stocks bounce back but virus risks cap dollar gains

Posted on March 5, 2020 at 9:36 am GMT

US data, virus bill, Biden boost lift stocks but sentiment shaky as virus continues to spread Dollar rebound short-lived as more rate cuts expected BoC follows Fed and RBA in cutting rates; are ECB and BoE next? Oil steady as OPEC begins meeting to discuss output cuts Virus stimulus and US politics boost equities Stocks in the US surged overnight as government and central bank action in response to the coronavirus outbreak, as well as a change in fortunes in [..]

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