USDJPY

Daily Market Comment – Stocks crash as recession fears intensify

Posted on October 3, 2019 at 9:01 am GMT

Investors back on recession watch; all eyes on the ISM non-manufacturing PMI today Speculation for Fed rate cuts no longer supports stocks – paradigm shift? Sterling yawns as markets say Brexit proposal is not a needle-mover Equities dive, yen roars back as investors grapple with recession worries Wall Street recorded substantial losses on Wednesday, with the S&P 500 (-1.8%) falling sharply and Asian markets being a sea of red today, as traders continued to cut their risk exposure amid worries [..]

Technical Analysis – USDJPY bears not in charge yet; need to breach 106.20

Posted on October 3, 2019 at 7:17 am GMT

USDJPY could not surpass the 50% Fibonacci of the downleg from 112.39 to 104.44 this week and instead corrected lower to meet support in the crossroads of the 107.00 mark and the 50-day simple moving average (SMA). The momentum indicators are providing discouraging signals for short-term trading, as the RSI has already pierced its 50 neutral mark to the downside – though not significantly – while the MACD is making its way down below its signal line. Therefore, the short-term bias is currently viewed as neutral-to-bearish. [..]

Daily Market Comment – Manufacturing recession and Brexit ultimatum

Posted on October 2, 2019 at 8:45 am GMT

Stocks tank as disappointing US PMI data fuel recession fears Pound remains under pressure as Johnson’s Brexit ‘ultimatum’ is leaked Mood turns sour as ISM manufacturing PMI drops further into contraction Global markets went into turmoil yesterday, with risk aversion dominating after the US ISM manufacturing PMI unexpectedly dropped to a decade low of 47.8 in September, missing the forecast for a rebound to 50.1. Any reading below 50 suggests the sector is contracting, so the considerable decline in this [..]

Daily Market Comment – Trade war goes financial

Posted on September 30, 2019 at 8:59 am GMT

Markets stay in risk-off mode as US considers financial sanctions against China Kiwi drops to new 4-year low after weak business confidence numbers Pound tumbles on hints of BoE rate cut, but may get some relief from politics Sentiment turns sour on fears trade war may spread into finance The main story on Friday was that the Trump administration is examining whether to restrict US financial flows into China. According to reports, Washington is considering delisting Chinese companies from [..]

BoJ Meeting Summary and Tankan report eyed for stimulus hints – Forex News Preview

Posted on September 27, 2019 at 1:13 pm GMT

The Bank of Japan will publish the Summary of Opinions of its September policy meeting on Monday (Sunday, 23:50 GMT), while a raft of data will also be watched amid growing speculation the Bank is preparing to announce further easing in monetary policy. The most important release will be the BoJ’s Tankan survey for the third quarter on Tuesday (Monday 23:50 GMT) as a sharp deterioration in business sentiment could spur policymakers into action at the October 30-31 meeting. The [..]

Week Ahead – RBA expected to cut again; US jobs report and September PMIs in focus too

Posted on September 27, 2019 at 10:30 am GMT

More central bank meetings will follow in the coming week, this time with the Reserve Bank of Australia, while things will heat up a little on the data front as September PMIs are on the agenda, as well as the all-important US jobs report. Although investors have recently pared some of their bleakest outlook for global growth and recession risks have receded somewhat, the incoming data will nevertheless be watched closely as trade tensions could flare up at any moment. [..]

Daily Market Comment – Trade rollercoaster keeps sentiment fragile; dollar climbs

Posted on September 27, 2019 at 8:00 am GMT

Stocks retreat on trade doubts, but short-term outlook still positive Euro weakens amid ECB easing speculation, dollar capitalizes Flood of US data due out today, but trade issues more important for greenback Stocks pull back on reports US is unlikely to extend Huawei waivers Market moves were relatively muted on Thursday, as investors remained hesitant to increase their exposure until they get a better grip on the various risks currently at play, most notably the Trump impeachment threat and the [..]

Technical Analysis – USDJPY reverses off 50.0% Fibonacci, back below 100-SMA

Posted on September 26, 2019 at 8:51 am GMT

USDJPY sellers are persisting at the 100-day simple moving average (SMA) currently at 107.80, despite short-term momentum drying up, as implied by the flattening Tenkan-sen and Kijun-sen lines. The pair aggressively pivoted off the 108.42 resistance, which is the 50.0% Fibonacci retracement of the down leg from 112.39 to 104.45, following a rally that commenced on August 26. The short-term oscillators reflect a stall in price action as the MACD has weakened in the positive area, moving below its red [..]

Daily Market Comment – Dollar soars as impeachment worries fade, trade optimism returns

Posted on September 26, 2019 at 8:35 am GMT

Renewed trade optimism and fading impeachment concerns lift dollar & stocks One of the biggest ECB hawks resigns; Draghi speaks today RBNZ Governor plays down prospect of QE, lifts kiwi Dollar and equities shoot up as Trump says a trade deal may be close Global risk sentiment improved drastically on Wednesday, as a combination of optimistic trade remarks and diminishing fears of a US presidential impeachment saw investors rotate back into riskier assets. The market’s mood started to improve after [..]

Daily Market Comment – Trump impeachment risk scares stocks; UK Parliament returns

Posted on September 25, 2019 at 8:35 am GMT

Trump impeachment probe dampens sentiment, but is the market overreacting? Pound cheers Supreme Court ruling, but retreats on Corbyn’s remarks RBNZ holds its fire, kiwi briefly spikes higher Risk aversion engulfs markets as Trump faces impeachment enquiry Sentiment in financial markets turned sour on Tuesday, as a double whammy of trade and political risks blindsided investors, triggering a rotation away from riskier assets like equities and towards defensive ones such as the yen and Swiss franc. The initial catalyst [..]

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