USDJPY

US ISM manufacturing PMI to extend slowdown but eyes on G20 summit– Forex News Preview

Posted on June 28, 2019 at 3:11 pm GMT

The manufacturing sector is remarkably important for the America’s technology and innovation leadership but also for the jobs market and thus any negative warning about the sector is a headwind to the economy and consequently to the dollar. The problem today is that the import tariff barriers imposed by the US government to China and other key economies have opened a can of worms in the industry, persuading the Fed to pause its rate hike campaign this year. On Monday at 1400 GMT, the [..]

Week ahead – Trump finally meets Xi; RBA and OPEC decide ahead of US payrolls

Posted on June 28, 2019 at 12:09 pm GMT

It’s another action-packed week, with the pivotal G20 summit that will decide how risk sentiment develops, finally upon us. Elsewhere, the Reserve Bank of Australia (RBA) is expected to slash rates again, while oil traders will pay close attention to the OPEC meeting. Economic data are not in short supply either, with the US employment report likely to add the final touches to expectations around how deep the Fed will cut in July. Trump-Xi meeting at G20 paramount for risk [..]

Daily Market Comment – Dollar drifts lower as G20 outcome anxiously awaited; inflation data eyed

Posted on June 28, 2019 at 9:23 am GMT

Markets anxiously await US-China trade talks as G20 summit gets underway Dollar and other majors steady but equities struggle Eurozone and US inflation data in focus amid rate cut talk All eyes on Trump-Xi meeting As the G20 summit gets underway in Osaka, Japan, investors’ attention is fixated on the much-anticipated meeting between US President Trump and Chinese President Xi as the two leaders attempt to mend their fraught relations. There’s a lot of uncertainty as to what the meeting, [..]

Daily Market Comment – Risk appetite creeps higher ahead of G20 talks; dollar advances

Posted on June 27, 2019 at 8:56 am GMT

Markets in cautiously optimistic mood ahead of crucial Trump-Xi meeting Reports that US and China have agreed to tentative truce over trade lift sentiment Dollar edges up but most pairs stuck in narrow ranges as G20 outcome awaited Modest hopes of positive talks buoy risk appetite Signs that the US and China were moving close to reaching some sort of a truce over their trade dispute lifted market sentiment on Thursday. According to a Chinese newspaper report, the US [..]

US PCE inflation and consumption data eyed as Fed considers whether to cut rates – Forex News Preview

Posted on June 26, 2019 at 10:40 am GMT

The US personal income and outlays report, which features the Fed’s favoured inflation gauge, will be scrutinized on Friday at 12:30 GMT, as speculation about the central bank’s next move reaches fever pitch. Subdued inflation and increased uncertainties about the outlook led the Fed to drop its ‘patient’ stance in June and signal its readiness to “act as appropriate”. But as the Federal Reserve considers its response to the worsening outlook, the US dollar’s recent sell-off is starting to seem [..]

G20 meeting: Trade ceasefire or more hardball? – Forex News Preview

Posted on June 26, 2019 at 9:29 am GMT

G20 summits usually pass without any market reaction, but this time will probably be different, as the American and Chinese leaders are expected to meet to discuss trade. It’s a close call, but an agreement to restart negotiations seems more likely than nothing at all being agreed. If so, that could propel stocks higher, and take some shine off safe havens like the yen, franc, and gold. The G20 conference in Japan will run from Friday through Saturday, and [..]

Daily Market Comment – Dollar bounces back as Powell signals July rate cut not a done deal

Posted on June 26, 2019 at 8:46 am GMT

Fed Chairman Jerome Powell pushes back on aggressive rate cut bets But dollar rebounds only modestly as markets still see a 25-bps cut in July G20 summit remains the week’s focal point but hopes of a major breakthrough are low RBNZ hints at more easing, but kiwi rallies Powell says Fed is “grappling” whether to cut rates Markets were dealt a reality check on Tuesday after Fed Chairman Jerome Powell signalled that a rate cut in July was not a [..]

Technical Analysis – USDJPY plummets to fresh 5-month low

Posted on June 25, 2019 at 8:14 am GMT

USDJPY is tumbling to a new five-month low near 106.77 today, struggling within the downward sloping channel. The RSI is trending south in the oversold zone, while the MACD is heading down below 0, posting a bearish cross with its trigger line. Both are signaling more losses in the daily timeframe. If the price continues lower and drops beneath today’s low, this could open the door for the 105.65 support, taken from the bottom on April 2018. Even sharper losses would bring [..]

Daily Market Comment – Dollar and stocks edge lower on G20 doubts; Powell speech eyed

Posted on June 25, 2019 at 8:06 am GMT

Worries of no progress at Trump-Xi talks at G20 summit gives rise to risk aversion Iranian tensions also weigh on markets after US imposes new sanctions Dollar extends slide, while euro hits 3-month high above $1.14 level Fed in focus as Powell and others due to speak later in today Trade concerns hit sentiment ahead of G20 The faint optimism that US President Trump and Chinese President Xi will be able to resolve some of their trade difference faded late [..]

US data to underline slowing but still solid economy – Forex News Preview

Posted on June 24, 2019 at 3:27 pm GMT

The highlight among US releases this week will be Friday’s PCE inflation numbers, but ahead of that, readings on consumer confidence and durable goods orders will be watched by investors for signs of a possible slowdown in the US economy. The consumer confidence index is out on Tuesday at 14:00 GMT, while durable goods orders will follow on Wednesday at 12:30 GMT. As the US dollar skids to 3-month lows, it will probably require a very strong set of figures [..]

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