USDJPY

Daily Market Comment – Fed’s ‘hawkish’ cut propels dollar higher; BoE next

Posted on August 1, 2019 at 8:36 am GMT

Fed cuts by 25bp, but appears hesitant to commit to more Dollar soars to two-year high versus euro, may have more room to gain for now BoE likely to adopt a more dovish tone at today’s meeting Stocks retreat after Fed, despite “constructive” trade talks Not-so-dovish Fed sends dollar soaring As expected, the Federal Reserve cut rates by 25 basis points (bp) yesterday, citing global growth and trade uncertainties coupled with muted inflation pressures as the driving forces behind the [..]

Technical Analysis – USDJPY gathers positive trend vibes above 109

Posted on August 1, 2019 at 7:16 am GMT

The hawkish nature of the FOMC policy meeting late on Wednesday allowed USDJPY bulls to retake control and pick up steam above the 109 important level. Technically, the pair could consolidate gains in the short-term as the RSI is positively sloped and not far below its 70 overbought mark; the indicator is already in the overbought territory in the four-hour chart. Yet, with the price having cleared the 50-day simple moving average (SMA), and the 50% Fibonacci of the upleg [..]

Daily Market Comment – Fed rate decision dominates a busy agenda

Posted on July 31, 2019 at 7:51 am GMT

Dollar may gain briefly if Fed only cuts rates by 25bp today Stocks feel the heat as Trump cranks up the trade rhetoric Flurry of key data due out of the Eurozone, US, and Canada Fed meeting: One cut at a time The main event for today will be the FOMC rate decision at 18:00 GMT, which will be followed by a press conference from Chairman Powell. The central bank is virtually certain to slash rates, so the real question [..]

Daily Market Comment – Sterling pummeled by Brexit blues

Posted on July 30, 2019 at 8:37 am GMT

Sterling crumbles as no-deal rhetoric heats up – outlook still negative Bank of Japan takes no action, yen likes it German and US data due; trade talks resume Pound collapses as Boris plays ‘chicken’ with EU There’s no reprieve for the wounded British pound, which fell to a fresh 2½-year low against the dollar earlier today, following another round of worrisome Brexit rhetoric. Boris Johnson and his lieutenants reiterated that the Irish backstop is “dead”, with Foreign Secretary Raab saying [..]

Daily Market Comment – Dollar lifted by US GDP, eyes Fed and trade talks; pound tumbles on no-deal Brexit risk

Posted on July 29, 2019 at 8:13 am GMT

US dollar at 2-month peak on US GDP beat, doubts about aggressive Fed easing cycle Cautious start to big week for central banks and US-China trade talks Pound tumbles to 28-month low as new UK PM sets ground for no-deal Brexit Dollar holds firm ahead of Fed The US dollar held onto Friday’s gains at the start of the trading week following the boost from better-than-expected US growth figures for the second quarter. The American economy grew by an annualized [..]

Week ahead – Fed, BoJ, and BoE meet ahead of US payrolls

Posted on July 26, 2019 at 9:37 am GMT

Investors will be glued to their screens next week, with a plethora of central bank meetings and an avalanche of data releases set to provide ample excitement. The Fed is certain to slash rates, though probably only by a quarter-point, which may briefly lift the dollar given expectations for even more aggressive action. The BoJ and BoE are both likely to soften their tones, while in the euro area, growth and inflation data may decide how forcefully the ECB acts [..]

Bank of Japan to mull more easing as inflation falls to 2-year low – Forex News Preview

Posted on July 26, 2019 at 9:31 am GMT

The Bank of Japan will announce its latest policy decision on Tuesday. There is no set time for the announcement, but they are usually made slightly before 03:00 GMT. As the BoJ’s peers have begun cutting or are planning to cut rates, pressure is growing on the central bank to ramp up its already massive stimulus program. But with few tools left at their disposal, policymakers are likely to be hesitant before approving a new round of easing. Making matters [..]

Daily Market Comment – Euro rebounds from lows after ECB disappoints; dollar holds firm

Posted on July 26, 2019 at 7:58 am GMT

ECB pledges more stimulus but euro bounces back from 2-year lows as no change this month disappoints US dollar climbs to 2-month highs as odds of 50-bps cut fade on solid US data Pound heads back down again after EU rejects Johnson’s request to renegotiate backstop Euro off lows but subdued The euro was steadier on Friday following yesterday’s volatility in response to the European Central Bank’s highly anticipated monetary policy meeting. The ECB kept policy unchanged on Thursday, though [..]

Daily Market Comment – Euro skids lower ahead of ECB; pound lifted by Johnson spending pledge

Posted on July 25, 2019 at 8:11 am GMT

Euro struggles near two-month lows as ECB decision is awaited Pound bounces higher after new prime minister signals big spending increases US dollar clings onto gains as Wall Street hits another record and trade talks make headway Euro mired by Eurozone doom and gloom Following yesterday’s poor Eurozone PMI readings, there was little support for the European common currency on Thursday as investors anxiously awaited the outcome of the European Central Bank’s monetary policy meeting later today. The euro was [..]

Technical Analysis – USDJPY bulls look exhausted near short-term SMAs; narrow range holds

Posted on July 25, 2019 at 6:16 am GMT

USDJPY is holding around the 23.6% Fibonacci retracement level of the downleg from 112.40 to 106.77 near 108.10 and the expected bullish crossover within the 20- and 40-simple moving averages (SMAs) in the daily timeframe. Currently, the price has been developing within a narrow range of 107.05 – 109.00 over the last two months and the Bollinger Bands are squeezing, approaching the market price. Looking at the momentum indicators, the RSI is marginally falling below the 50 level, while the stochastic oscillator has [..]

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