USDJPY

Daily Market Comment – Risk appetite hit by China virus fears

Posted on January 21, 2020 at 9:57 am GMT

Yen shines, Asian stocks drop as markets focus on virus outbreak BoJ preserves its limited firepower for a rainy day Busy day ahead: UK data, impeachment, World Economic Forum, and earnings Yen lifted by coronavirus concerns, but is this sustainable? Financial markets traded quietly on Monday, with most currency pairs staying confined in very narrow ranges, as a public holiday in America and the absence of any noteworthy economic data releases in Europe left investors wanting. That all changed overnight [..]

Bank of Japan to likely keep policy unchanged as risks subside – Forex News Preview

Posted on January 20, 2020 at 12:07 pm GMT

The Bank of Japan will be the first of the major central banks to hold its first monetary policy meeting of 2020 on January 20-21. The Bank will also be releasing its quarterly Outlook Report together with its decision on Tuesday. Those hoping for some fireworks would have better luck holding out for the Bank of Canada’s and European Central Bank’s meetings later in the week as the BoJ is not expected to alter policy or its language. However, the [..]

Daily Market Comment – Dollar grinds higher, Wall Street hits new records

Posted on January 20, 2020 at 9:43 am GMT

Greenback outperforms as incoming data reaffirm strength of US economy Pound crumbles after soft retail sales enhance case for a BoE rate cut next week Bank of Japan rate decision coming up; supply disruptions boost oil Solid US data lift dollar, catapult US stocks to fresh records The dollar was the star performer in the FX market on Friday, advancing across the board after the latest batch of US data beat forecasts, feeding the narrative that the American economy continues [..]

Week ahead – ECB, BoJ, and BoC meet before crucial European and UK PMIs

Posted on January 17, 2020 at 1:46 pm GMT

It’s going to be an action-packed week, with three major central bank meetings and a storm of economic data likely to keep traders glued to their screens. The European Central Bank is unlikely to signal anything radical, so the euro might be driven mainly by the bloc’s PMI data. The Bank of Japan meeting could also be a snoozer, though there is a case to be made for the Bank of Canada to adopt a more dovish tone. In Britain, [..]

Daily Market Comment – US earnings and data, China GDP propel stocks to fresh highs; dollar nears 8-month high vs yen

Posted on January 17, 2020 at 9:24 am GMT

China reports slowest annual growth in 29 years but signs of rebound at year-end Stocks climb to new records amid ongoing trade optimism and positive earnings String of upbeat data out of the US also boosts risk appetite China’s growth slows in 2019 but recovery could be underway Economic growth in the world’s second largest economy reached the slowest in 29 years according to GDP numbers out of China this morning. GDP expanded by 6.1% for the full year in [..]

Daily Market Comment – Phase One deal brings some cheer despite doubts; dollar drifts lower

Posted on January 16, 2020 at 9:21 am GMT

US and China finally sign ‘phase one’ trade deal; stocks head into record territory Details of deal fail to reassure sceptics about enforcement and target for Chinese purchases Focus to shift to data with US retail sales and Chinese Q4 GDP coming up Markets buoyed as Phase One deal clears final hurdle US President Donald Trump and Chinese Vice Premier Liu He put pen to paper to the long-awaited ‘Phase One’ deal on Wednesday, hoping to draw a line over [..]

Technical Analysis – USDJPY bulls trapped below 110.00 after breaking resistance trendline

Posted on January 16, 2020 at 8:08 am GMT

USDJPY is stuck below the 110.00 level after closing above the strong resistance trendline stretched from mid-September 2018. In the short-term, the pair is expected to trade with caution as the slowdown in the RSI’s positive momentum, which is currently near its former peaks, and the negative intersection between the Stochastics in the overbought area, suggest that the bullish action may be running out of steam. If the price retreats, the resistance trendline should turn a support area to verify [..]

Daily Market Comment – Markets turn cautious ahead of trade deal signing as Mnuchin dashes hopes of further tariff cuts

Posted on January 15, 2020 at 9:10 am GMT

Risk appetite eases as details of ‘phase one’ trade deal expected to reveal few surprises US Treasury Secretary Steven Mnuchin suggests no additional tariff rollbacks before ‘phase two’ Stocks slip into the red, yen and franc edge up Market mood dampened ahead of trade deal signing The highly anticipated signing of the ‘phase one’ trade pact between the United States and China will take centre stage later today but with the deal already fully priced in by investors, the event [..]

Daily Market Comment – Dollar hits 110 yen after US removes China as currency manipulator

Posted on January 14, 2020 at 9:18 am GMT

US removes currency manipulator label from China ahead of signing of trade deal Yuan surges, yen slides as risk-on theme continues Wall Street hits another record as earnings season gets into full gear US-China tensions thaw further ahead of trade deal signing Relations between the United States and China got a boost on Monday after the US Treasury Department decided to no longer designate China as a currency manipulator. The announcement, which comes just two days before the two countries [..]

US inflation and retail sales data to drive dollar – Forex News Preview

Posted on January 13, 2020 at 3:34 pm GMT

It might be an interesting week for the greenback, with the latest CPI inflation numbers hitting the markets on Tuesday at 13:30 GMT, ahead of retail sales figures on Thursday. Overall, these are likely to confirm the American economy remains in good shape, reinforcing the Fed’s ‘on-hold’ stance. As for the dollar, its strength is unlikely to abate anytime soon, as there’s little alternative for investors seeking higher interest rates alongside safety. A decent house in a bad neighborhood The [..]

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