USDJPY

Technical Analysis – USDJPY under descending line; bias neutral-to-bullish

Posted on May 2, 2019 at 7:07 am GMT

USDJPY met heavy resistance from the soft descending line drawn from the 114.54 top last week, ending bullish action at a four-month high of 112.39. The pair is currently fluctuating around its 200-day simple moving average (SMA), with momentum indicators pointing to a neutral-to-bullish short-term trading; the red Tenkan-sen is flat slightly above the blue Kijun-sen, while the RSI is set to cross above its 50 neutral mark. For a meaningful rally the bulls probably need to jump above the downtrend line seen around 112.30, [..]

Fed meets as rate-cut bets mount – Forex News Preview

Posted on April 30, 2019 at 2:32 pm GMT

The Fed will announce its policy decision on Wednesday at 18:00 GMT. No action is expected, so Chair Powell’s remarks in the subsequent press conference (18:30 GMT) will likely steal the show. Inflation has cooled lately, which combined with still-elevated risks abroad, suggest that the Fed could maintain a cautious tone. While that may weigh on the dollar initially, any downside is unlikely to be massive, given how pessimistic market pricing already is. The Fed shifted to a more ‘cautious’ [..]

European Open Preview – Dollar buoyant ahead of Fed, but caution elsewhere amid mixed growth signals

Posted on April 30, 2019 at 8:06 am GMT

Solid US growth and muted inflation boosts US dollar and Wall Street But other majors sag as disappointing Chinese PMIs revive growth fears Fed to start two-day monetary policy meeting, unlikely to alter stance Dollar eases from 22-month high but remains supported ahead of FOMC meeting The US currency was outperforming its peers early on Tuesday as there was further evidence on Monday that growth in the world’s largest economy is picking up speed. Personal consumption in the US rose [..]

European Open Preview – King dollar returns as investors flee euro, loonie

Posted on April 25, 2019 at 8:33 am GMT

Dollar index soars to 2-year high as euro, commodity currencies suffer BoC remains on hold but abandons rate-hike bias; loonie drops BoJ commits to low rates until 2020 but yen snoozes ‘King dollar’ returns as euro and antipodeans lose their shine The world’s reserve currency advanced across the board on Wednesday, with the dollar index soaring to 2-year highs, even without any US-specific catalyst. Instead, the greenback capitalized on weakness in other major currencies, most notably in the euro, aussie, [..]

Technical Analysis – USDJPY eases near 4-month high; positive profile in short term

Posted on April 25, 2019 at 6:40 am GMT

USDJPY had a successful jump above the 112.00 handle on Wednesday, flirting with a fresh four-month high of 112.40. The price rebounded on the mid-level of the Bollinger Band (20-SMA) and hit the upper Boundary, which seems to be a real struggle for the bulls. Technically, the price could lose some ground in the short-term as the RSI is sloping down in the positive territory, while the MACD remains below its trigger line. If the price declines and drops beneath [..]

Time for US GDP growth and core PCE inflation – Forex News Preview

Posted on April 24, 2019 at 12:04 pm GMT

The US reports preliminary GDP growth figures for the first quarter of 2019 on Friday at 1230 GMT, while at the same time on Monday, the March core Personal Consumption Expenditures (PCE) index, will move front and center to add further clues on whether an accommodative monetary policy is indeed necessary in the year ahead. While analysts predict a slower economic expansion and a softer inflation, improving data out of the country have given a good feeling for the US economy [..]

European Open Preview – BoC may disappoint bears; US stocks hit records

Posted on April 24, 2019 at 8:02 am GMT

Bank of Canada may not be as dovish as markets expect today US stocks close at new record highs on blockbuster earnings Dollar rallies amid demand for US equities Aussie suffers after disappointing CPIs fuel rate-cut bets BoC: Cautious, but less than markets expect The main event today will be the Bank of Canada (BoC) policy decision at 14:00 GMT. No change in policy is expected, so price action will depend on the language of the accompanying statement, the updated [..]

Bank of Japan expected to keep policy steady, may downgrade forecasts – Forex News Preview

Posted on April 23, 2019 at 3:44 pm GMT

The Bank of Japan will conclude its two-day policy meeting on Thursday and will be publishing its quarterly outlook report along with its decision statement. The Bank does not provide a precise time for its announcement, but they tend to be made around 0300 GMT. As the global economic slowdown continues to drag on Japanese exporters, policymakers are in a bind as after years of easy monetary policy, inflation is far below the BoJ’s 2% target and growth remains sluggish. [..]

European Open Preview – Earnings season fires up; aussie retreats

Posted on April 23, 2019 at 8:10 am GMT

Nasdaq 100 at record highs ahead of key earnings Aussie pulls back ahead of inflation data early on Wednesday Sterling retreats as PM May prepares to stave off another ‘Tory rebellion’ Nasdaq 100 cruises to record highs as earnings season fires up Markets remained quiet on Monday, with moves in both currencies and equities being muted overall and the spotlight remaining on oil prices instead. US stocks ended mostly in the green, with gains in the energy sector offsetting losses [..]

European Open Preview – Oil jumps as US ‘tightens the screws’ on Iran

Posted on April 22, 2019 at 7:58 am GMT

Oil soars as US prepares to impose full sanctions on Iran Currencies enter holiday lull Loonie eyes BoC policy meeting on Wednesday Oil jumps as US ‘tightens the screws’ on Iran Energy markets came back to the forefront on Monday, following reports that Washington is set to announce that all Iranian oil exports will soon face ‘full’ sanctions, ending the waivers it had granted previously to key customers of Iran, like China, Japan, and India. Oil prices surged to fresh [..]

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