USDJPY

European Open Preview – Draghi briefly sinks euro; Brexit delayed again

Posted on April 11, 2019 at 8:08 am GMT

ECB’s Draghi hints at more stimulus, but euro tumbles only modestly and recovers quickly Dollar pulls back after disappointing US CPI data, looks to Fed speakers today EU grants Brexit extension – Varadkar’s remarks indicate way forward Euro tumbles as Draghi hints at more stimulus, but only modestly As expected, the European Central Bank (ECB) kept both its policy and forward guidance unchanged yesterday. President Draghi maintained a cautious tone, highlighting that incoming data remain weak, especially in the manufacturing [..]

Technical Analysis – USDJPY unlocks 111.00 key level again; indicators signal neutral mode

Posted on April 11, 2019 at 6:43 am GMT

USDJPY is trading near the psychological level of 111.00 and is capped by the 40-day simple moving average (SMA). The sell-off in the preceding days drove the price well above the flat 200-day SMA indicating a possible bearish retracement in the short-term. The momentum indicators, the RSI and the MACD, are moving sideways near the 50 level and around the zero line respectively. Should the pair continue the bearish pressure and slip beneath the 20-day SMA, it could move towards the 23.6% Fibonacci retracement level of the upleg from 104.64 [..]

European Open Preview – ECB meeting, EU Brexit summit, and much more

Posted on April 10, 2019 at 7:58 am GMT

Today is packed with market-moving events, including an ECB meeting, an EU summit on Brexit, US inflation data, and Fed minutes ECB is likely to maintain a dovish tone amid growth, trade concerns EU set to offer UK long but ‘flexible’ Brexit extension Meanwhile, trade uncertainty returns to haunt stocks ECB meets – No action, but perhaps more cautious language The European Central Bank (ECB) will announce its policy decision at 11:45 GMT, but the real action will likely begin [..]

European Open Preview – US proposes tariffs on EU, but markets remain calm

Posted on April 9, 2019 at 8:09 am GMT

US officially proposes tariffs on EU, but market reaction minimal so far Euro advances, looks to ECB meeting tomorrow In Brexit, May will meet Merkel and Macron today ahead of EU summit Lighthizer recommends tariffs on EU – new chapter in trade war? The main story overnight was that the US Trade Representative, Robert Lighthizer, proposed introducing tariffs on a list of 11$bn worth of EU products in retaliation to EU aircraft subsidies. This is the clearest sign yet that [..]

US inflation data and Fed minutes in focus as rate-cut bets rise – Forex News Preview

Posted on April 8, 2019 at 3:25 pm GMT

The two main releases for the dollar this week will be the US CPI data and the minutes from the Fed’s March meeting, due out on Wednesday at 12:30 and 18:00 GMT respectively. Attention could fall primarily on the inflation data, where forecasts appear overly optimistic – thereby posing a downside risk for the US currency. In the big picture, markets are quietly pricing in Fed rate cuts. Yet, that has failed to substantially weaken the greenback, mainly because other [..]

Technical Analysis – USDJPY eyes 111.57 to return to bullish action in short term

Posted on April 8, 2019 at 8:57 am GMT

USDJPY failed to close above the 112 level on Friday once again, with the price retreating below the 20-period moving average in the four-hour chart. The fast stochastics, however, provide optimism that the pair could recoup some losses as the red %K line and the blue %D line approach oversold territory (below 20). The RSI looks to be improving at the current time, though, as long as it holds close to its 50 neutral mark, any gains could appear limited [..]

European Open Preview – Fed rate-cut bets grow; oil climbs on Libya woes

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

Dollar little changed after NFP, but Fed rate-cut odds rise In the UK, reports suggest PM May could accept a customs union compromise Oil touches five-month high as Libyan production is threatened Dollar snoozes after mixed jobs data, but rate-cut bets grow The US employment report for March was a mixed bag. Nonfarm payrolls clocked in at 196k, higher than the consensus for 180k, but wage growth disappointed, with average earnings slowing to 3.2% in annual terms, from a cycle-high [..]

Week Ahead – Euro and pound in focus as ECB meets and EU leaders hold emergency Brexit summit

Posted on April 4, 2019 at 3:13 pm GMT

Economic data will take a backseat in the coming week as the biggest risk events that are being anticipated are the European Central Bank’s policy meeting and an emergency summit by the European Union to discuss the Brexit crisis. But while UK and EU politics may grab most of the headlines, there will also be some key releases to keep an eye on. Export numbers out of China and Germany will be watched to assess global trading conditions as trade [..]

European Open Preview – Equities extend gains; UK Parliament blocks no-deal

Posted on April 4, 2019 at 8:05 am GMT

Pound advances as UK Parliament blocks no-deal exit; all eyes on May-Corbyn talks Equities extend winning streak as trade optimism rides high ECB minutes the highlight on today’s calendar Parliament blocks no-deal Brexit, pound advances The Brexit process continues to dominate headlines. The House of Commons voted by the narrowest of margins (313-312) to force Theresa May to ask the EU for an extension beyond April 12. Lawmakers, not the government, will decide the length of the delay, subject to [..]

Technical Analysis – USDJPY capped by 200-day MA; bias positive-to-neutral

Posted on April 4, 2019 at 6:59 am GMT

USDJPY bounced back above 111 this week but the 200-day moving average (MA) managed to hold the bulls under control, with the market now set to close with minimal weekly gains. The short-term bias looks positive-to-neutral under the technical perspective as the RSI is losing ground in bullish territory (above 50) and the MACD is rising marginally above its trigger and zero lines. In Ichimoku indicators, both the red Tenkan-sen and the blue Kijun-sen indicators continue the sideway move, suggesting [..]

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