USDJPY

Daily Market Comment – China exports rise helps markets stabilize; yen holds near highs

Posted on August 8, 2019 at 8:23 am GMT

Positive trade data out of China lifts sentiment but stocks recover only modestly Aussie and kiwi bounce off lows, US dollar struggles for direction Markets spooked by global slump in government bond yields; gold jumps China posts surprise increase in exports China reported unexpectedly strong export numbers on Thursday, adding some cheer to a gloomy market environment. Exports were up 3.3% annually in July, beating forecasts of a 2.0% drop. Imports also came in at a better-than-expected -5.6%, suggesting domestic [..]

Technical Analysis – USDJPY bears blocked around 105.50

Posted on August 8, 2019 at 7:16 am GMT

USDJPY put brakes on the sell-off near the key 105.50 area twice this week and turned to consolidation. Trend signals remain bearish as the market action continues to take place well below simple moving averages (SMA) and the Ichimoku cloud, whilst the momentum indicators suggest that the next move in the price could be bearish-to-neutral. The MACD keeps strengthening downwards and under its red signal line, the RSI points towards its 30 oversold mark, whereas the Stochastics are sloping upwards after [..]

Japan Q2 GDP growth to slow as soaring yen risks ire of policymakers – Forex News Preview

Posted on August 7, 2019 at 9:30 am GMT

Japan will publish GDP figures for the second quarter on Friday (Thursday, 23:50 GMT), and is expected to join its peers in reporting slower growth for the period. As the Bank of Japan ponders whether to ramp up an already mammoth asset purchase program, will the GDP data nudge policymakers closer to pulling the trigger on more stimulus? Japanese growth likely eased back in Q2 Growth in Japan in the first three months of the year was an unexpectedly solid [..]

Daily Market Comment – Kiwi plunges on shock RBNZ cut; stocks sell-off eases on Kudlow remarks

Posted on August 7, 2019 at 8:19 am GMT

New Zealand dollar nosedives after RBNZ cuts rates by bigger-than-expected 50 basis points Yen and Swiss franc turn back up after yuan slips again Stocks end losing streak after Kudlow keeps alive prospect of more trade talks Kiwi slumps to 3½-year low on shock RBNZ move The Reserve Bank of New Zealand surprised markets on Wednesday by delivering a hefty 50-bps cut in its official cash rate (OCR), confounding analysts and traders who were expecting a smaller 25-bps cut. This [..]

Daily Market Comment –Yuan steadies after US brands China currency manipulator; stocks slide again

Posted on August 6, 2019 at 8:18 am GMT

Yen and Swiss franc retreat after yuan steadies as US labels China a currency manipulator Global stocks extend slide as US-China tensions continue to heat up Aussie and kiwi firmer as RBA keeps rates on hold, RBNZ coming up next Euro perks up but pound under pressure Yuan off lows on PBOC midpoint The risk-off moves engulfing currency markets since President Trump’s decision last Thursday to slap more tariffs on Chinese goods eased on Tuesday with the help of a [..]

Daily Market Comment – Yen and gold soar; yuan sinks as trade war savages markets

Posted on August 5, 2019 at 8:26 am GMT

Safe havens such as the yen and gold surge as heated trade tensions extend broad sell-off in risk assets Yuan breaks past 7 per dollar level as PBOC gives green light to a weaker currency US dollar mixed as Fed rate cut expectations rise again Market rout deepens, yen rallies The fallout from the latest escalation in the US-China trade dispute continued to be felt across financial markets on Monday as investors sold off stocks and emerging market currencies [..]

Week Ahead – RBA and RBNZ to keep up rate-cut rhetoric; UK and Japan to post Q2 GDP

Posted on August 2, 2019 at 1:33 pm GMT

It will be the turn of the Reserve Bank of Australia and the Reserve Bank of New Zealand to next announce their latest policy decisions following a busy week for central banks. New Zealand will also see the release of the quarterly employment report and jobs figures are due out of Canada too. The highlight for the United Kingdom and Japan will be GDP growth numbers for the second quarter, and in China, the monthly trade and inflation releases will [..]

Technical Analysis – USDJPY dives below 107; short-term bias turns bearish

Posted on August 2, 2019 at 10:30 am GMT

USDJPY came under severe selling pressure on Thursday, with the price quickly exiting the 109 area and sliding below the 107 level early on Friday. The momentum indicators are facing downside pressure as well, framing a bearish bias for the short-term trading. Yet with the RSI and the Stochastics moving closer to the oversold territory, any downfall could be limited. The 78.6% Fibonacci of 105.60 of the upleg from 104.64 to 112.39 could provide nearby support to additional losses. Any [..]

Daily Market Comment – Stocks sink as Trump escalates trade war; US payrolls due

Posted on August 2, 2019 at 8:17 am GMT

Equities plunge, yen skyrockets as trade war fears heighten Nonfarm payrolls may present a one-sided risk for the dollar today Chance of UK General Election rises as Johnson’s working majority slips Risk aversion takes over markets as Trump threatens new tariffs American equities erased some early gains to close about 1% lower yesterday, after the US President took the trade war with Beijing to the next level – announcing that he will impose a 10% tariff on all remaining products [..]

US Nonfarm payrolls to steal the show after Fed’s rate cut – Forex News Preview

Posted on August 1, 2019 at 2:52 pm GMT

In a relatively busy week for the US calendar, the popular Nonfarm payrolls report will steal the show on Friday at 1230 GMT, two days after the FOMC policy meeting. It’s expected to indicate that the labour market is still a bright spot in the US economy and hence supportive of consumption. The data, however, are likely to leave the window open for further monetary easing in the year ahead as risks continue to linger on the horizon. In June, new job positions surged by a surprising 224k, surpassing [..]

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