USDJPY

Technical Analysis – USDJPY rallies above long-term resistance trendline; 110 level in focus

Posted on January 13, 2020 at 10:50 am GMT

USDJPY finally climbed above the strong resistance trendline that has been capping upside corrections since mid-September 2018 and questions are rising now about whether the market can sustain the break in the coming sessions. The positive slope in the RSI, which runs comfortably above its 50 neutral mark is painting a rosy picture for the short-term trading. However, with the Stochastics searching for a bearish cross in the overbought area, it is reasonable to believe that the rally may appear [..]

Daily Market Comment – Risk assets remain well bid ahead of signing of trade deal; pound slips on rate cut speculation

Posted on January 13, 2020 at 9:33 am GMT

Risk assets start week on positive note, driven by optimism of ‘phase one’ trade deal being signed on Wednesday Risk-on sentiment, along with easing Iranian tensions, weigh on safe havens; gold and yen slide Pound under pressure as more BoE policymakers join the rate cut bandwagon Trade deal optimism continues to set market tone The week got off to an upbeat start as investors set their sights on the imminent signing of the US-China trade pact on Wednesday, which is [..]

Week Ahead – US and China set to seal Phase One deal ahead of Chinese Q4 GDP release

Posted on January 10, 2020 at 11:42 am GMT

The United States and China will finally put pen to paper on the hard-fought ‘phase one’ deal on January 15, ending months of trade uncertainty and hostilities. However, it will be too early for the ebb in trade tensions to have benefited China’s export-heavy economy in the fourth quarter and GDP numbers due out of the country will likely leave markets underwhelmed. It will be an important data week in the UK and US as well, with monthly industrial output, [..]

Daily Market Comment – US stocks carve out new highs ahead of Nonfarm Payrolls

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

Wall Street hits new records and US jobs data today may add fuel to the rally Canada’s employment figures also due – asymmetric risk for loonie? Pound drops on dovish BoE comments and may still have some way to go Nonfarm payrolls: More fuel for stocks? The main event today will be the US employment report for December. Nonfarm payrolls (NFP) are forecast to clock in at 164k, less than the astounding 266k in November, but still a solid number [..]

NFP could be less exciting in December but dollar may not care – Forex News Preview

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

The US is scheduled to publish its final Nonfarm payrolls report (NFP) for 2019 on Friday at 12:30 GMT and despite the ups and downs during the year and a potential slowdown in employment growth this week, the labor market is expected to have maintained a robust profile, reducing the odds for a more accommodative monetary policy. The dollar, though, may consider the data outdated, probably showing little volatility in the aftermath. NFP forecasts Sharp dips in employment growth during [..]

Daily Market Comment – Oil crashes, stocks roar higher as geopolitical nerves calm

Posted on January 9, 2020 at 9:58 am GMT

Yen and gold slump, equities jump as US-Iran tensions take a back seat Dollar outperforms amid fading Fed rate-cut expectations – lots of Fed speakers today In Canada, BoC Governor Poloz delivers remarks and might strike a dovish tone Oil collapses alongside safe havens as worries of US-Iran war fade Global markets continued to price out the risk of an imminent all-out war between the US and Iran yesterday, amid signs that neither side is seeking further escalation. The fact [..]

Technical Analysis – USDJPY returns higher; lacks clear direction in short-term

Posted on January 9, 2020 at 7:20 am GMT

USDJPY ended the day in green after the sharp sell-off on Wednesday, erasing intraday’s losses and surpassing the mid-level of the Bollinger Band (20-day simple moving average) and the 40-day SMA as well. The price rebounded on the 38.2% Fibonacci retracement level the of upleg from the 17-month low of 104.45 to the seven-month high of 109.70, near 107.70. The momentum indicators are pointing to a positive bias in the very short-term with the RSI just above the 50 level [..]

Daily Market Comment – Iran attacks US bases, but risk aversion doesn’t last

Posted on January 8, 2020 at 9:40 am GMT

Safe havens spike higher, stocks drop as Iran hits US bases in Iraq Yet, risk aversion fades as both sides show little appetite for more escalation Meanwhile, dollar advances on healthy US data, aussie burned by wildfires Oil and gold jump, stock futures briefly dip after Iran strikes back Tehran didn’t take long to retaliate against the US assassination of its most powerful general, as overnight Iran attacked with ballistic missiles two military bases in Iraq that are hosting American [..]

Daily Market Comment – Geopolitical fears ease, but risk sentiment remains fragile

Posted on January 7, 2020 at 9:47 am GMT

Safe havens pull back, stocks recover as some geopolitical risk is priced out Alas, it might be only a matter of time before Middle East fears resurface – how will Iran retaliate? In economics, the ISM non-manufacturing PMI today may prove crucial for the dollar Yen retreats, stocks rebound as Middle East worries ease – for now Global risk appetite improved on Monday, with defensive currencies such as the Japanese yen surrendering some recent gains while US stocks recovered lost [..]

Week Ahead – US jobs report to heat things up after holiday snooze

Posted on January 3, 2020 at 12:30 pm GMT

Markets will get back into full gear next week as traders return from their festive breaks and the economic data start rolling again. The spotlight will be on the nonfarm payrolls report in the United States, but key indicators out of the Eurozone, China, Canada and Japan should also attract attention. With the trade optimism setting the market mood at the end of 2019 and the start of 2020, there’s a risk the incoming data may not support the brightening [..]

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