USDJPY

Dollar depreciation remains elusive even as Fed prepares to lower rate path prediction – Special Report

Posted on March 14, 2019 at 4:27 pm GMT

Following the Federal Reserve’s dovish pivot in January, there is a lot of anticipation for the next FOMC meeting on March 19-20 when policymakers will publish their latest economic projections, including a revised dot plot chart. But as the Fed becomes increasingly at ease with its newly-adopted wait-and-see approach, the dovish policy move does not appear to be transmitting into the currency markets, with the dollar index holding close to 1½-year highs. The greenback was widely expected to weaken in [..]

European Open Preview – Sterling soars after Parliament rejects no-deal Brexit; Trump trade comments weigh on sentiment

Posted on March 14, 2019 at 9:12 am GMT

Pound continues rollercoaster ride amid more Brexit twists and turns at Westminster; MPs look set to vote in favour of delaying Brexit Chinese industrial production falls to 17-year low, dampening market sentiment President Trump says he is “in no rush” to complete trade talks with China, raising doubts about a March deal Pound leaps to 9-month high as no-deal Brexit is voted down The British currency jumped to a 9-month peak of $1.3383 on Wednesday after the UK Parliament voted [..]

BoJ meeting: No action, but perhaps a more dovish tune – Forex News Preview

Posted on March 13, 2019 at 2:59 pm GMT

The Bank of Japan (BoJ) will announce its decision during the early Asian session on Friday. No action is expected, so investors will once again look for any signals on how policy may evolve. The slowdown in global growth coupled with lackluster domestic data suggest little room for optimism, and if anything, the BoJ could instead join the chorus of dovish central banks globally and hint at more stimulus – not least for fear of yen appreciation if it doesn’t. [..]

European Open Preview – Pound swings wildly on May’s Brexit defeat; more votes to come

Posted on March 13, 2019 at 9:01 am GMT

Pound edges up, recovering from earlier sharp losses, as UK Parliament expected to vote against no-deal Brexit May’s yet another historic defeat leads equities into risk-off mood; global growth concerns and Boeing slump also weigh Aussie slips on weak consumer confidence Sterling likely to remain volatile as British MPs to vote on no-deal and delaying Brexit After rallying sharply to a high of $1.3288 yesterday, the pound dramatically reversed lower, hitting a low of $1.3003 as it became apparent that [..]

US durable goods orders due, as dollar rally eases – Forex News Preview

Posted on March 12, 2019 at 2:11 pm GMT

The next focal point for the dollar will be the release of durable goods orders for January, on Wednesday at 12:30 GMT. Forecasts point to a relatively soft set of data, which may further amplify concerns around a looming US slowdown, and by extent cause the greenback to give back more of its recent gains. In the bigger picture, the US currency will likely take its cue from the signals the Fed sends at its policy meeting next week. New [..]

European Open Preview – Pound extends rally on revised Brexit deal but Parliament backing unclear

Posted on March 12, 2019 at 8:54 am GMT

Pound extends yesterday’s surge as May secures ‘legally binding’ changes to Brexit deal All eyes now on British Parliament amid doubts whether EU’s legal assurances will be enough Equities rally and yen retreats as risk appetite improves and on hopes of more stimulus in China Sterling back above $1.32 on hopes May can win MPs backing with revised deal The British pound was the star performer for a second day on Tuesday as UK prime minister, Theresa May, managed to [..]

Week Ahead – Another Brexit deadline looms; Bank of Japan meets

Posted on March 8, 2019 at 1:30 pm GMT

A vote in the British parliament could determine whether the Brexit deadline will be extended, while a Bank of Japan policy meeting will be another highlight for traders in the coming week. Economic indicators will also be watched closely amid renewed growth jitters as industrial output figures for January are reported in China, the Eurozone, the United Kingdom and the United States. Inflation numbers from the US will be the other main release. Chinese growth likely softened further at start [..]

European Open Preview – Draghi torpedoes euro; US payrolls coming up

Posted on March 8, 2019 at 8:56 am GMT

US nonfarm payrolls report dominates the agenda today ECB pushes back rate hike timing, announces new loans; euro crumbles Stocks continue to retreat, yen advances as China’s trade data disappoint Nonfarm payrolls in the limelight The spotlight today will be on the US employment report for February. Forecasts are quite optimistic across the board. Nonfarm payrolls (NFP) are expected to have risen by 180k, less than January’s astonishing 304k but still a strong number overall. Meanwhile, the unemployment rate is anticipated [..]

European Open Preview – BoC throws in the towel, spotlight turns to ECB

Posted on March 7, 2019 at 8:57 am GMT

ECB meeting the main event today, focus will be on signals for loans to banks Loonie sinks to two-month lows as BoC abandons rate hike plans Elsewhere, stocks retreat without a clear catalyst – perhaps on profit taking Will the ECB join the chorus of dovish central banks today? All eyes will be on the highly-anticipated ECB policy decision today, and in particular on the updated economic forecasts and Draghi’s press conference at 13:30 GMT. The euro area economy continues [..]

Technical Analysis – USDJPY stalls at 2 ½-month highs and above 200-day MA

Posted on March 7, 2019 at 7:45 am GMT

USDJPY crawled above the 200-day moving average (MA) and towards 2 ½-month highs on Monday but the upper bound of the ascending channel capped bullish action, with the price sliding sideways since then. The RSI and the MACD are still positioned in the bullish zone, with the former above 50 and the latter above its red signal line, but both have already started to trend down, signalling that some weakness may emerge in the market. Meanwhile, the Ichimoku indicators, the red Tenkan-sen and the blue Kijun-sen [..]

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