USDJPY

Week Ahead – Japanese and UK Q4 GDP in focus; Kiwi readies for dovish noises from RBNZ

Posted on February 8, 2019 at 2:46 pm GMT

Japan and the United Kingdom will be next to publish economic growth numbers for the final quarter of 2018, while the Eurozone will release its second GDP estimate for the period. Inflation data out of the US and the UK will also be watched. The Reserve Bank of New Zealand will be among the last of the major central banks to hold its first monetary policy meeting of 2019. The Bank is unlikely to buck the trend and will probably [..]

European Open Preview – Stocks retreat on trade woes; BoE ‘holds the line’

Posted on February 8, 2019 at 8:54 am GMT

Risk aversion returns as Trump reignites trade fears, says he won’t meet Xi soon Sterling rebounds as BoE sticks to hiking plans, but Brexit uncertainty lingers Euro drifts lower after EU Commission slashes growth forecasts Canadian employment data coming up Stocks take a hit as Trump says he won’t meet Xi soon US equity markets closed well in the red yesterday, with the S&P 500 shedding 0.94%, following headlines that President Trump will not meet President Xi before the March [..]

European Open Preview – No hawkish bits from BoE today; kiwi capitulates

Posted on February 7, 2019 at 8:31 am GMT

BoE may adopt a cautious tone today amid slowing economy, Brexit uncertainty Kiwi dollar collapses after soft jobs data ignite speculation for RBNZ rate cut Greenback capitalizes on weakness in other currencies; stocks stall BoE to strike cautious tone as Brexit uncertainty reigns The spotlight will fall on the Bank of England (BoE) today, which is expected to keep its policy unchanged via a unanimous vote at 12:00 GMT. Updated economic forecasts and a press conference by Governor Carney will [..]

Technical Analysis – USDJPY finds wall near 110.00; 40-SMA seems to be strong obstacle

Posted on February 7, 2019 at 7:22 am GMT

USDJPY has found a strong resistance obstacle around the 40-day simple moving average (SMA) over the last couple of days after the jump above the 50.0% Fibonacci retracement level of the downleg from the 11-month high of 114.55 and the 10-month low of 104.64, around 109.60. Currently, the pair is in a bullish correction mode following the rebound on the 104.64 support level on January 3, but the technical indicators seem to be in confusion. Looking at the momentum indicators, [..]

European Open Preview – RBA chief jawbones aussie lower; pound slides

Posted on February 6, 2019 at 8:52 am GMT

Aussie plummets as RBA Governor changes tune, puts rate cut on table Pound dives after weak services PMI reinforces speculation for dovish BoE US stock markets cruise to fresh two-month highs RBA Governor reacquaints aussie with gravity The Australian dollar is in freefall early on Wednesday, losing more than a cent against its US counterpart, following some cautious-sounding remarks from RBA Governor Philip Lowe earlier. He backpedaled on some of the Bank’s prior rhetoric that the next move in interest [..]

European Open Preview – Neutral RBA lifts aussie; Wall Street advances

Posted on February 5, 2019 at 8:46 am GMT

Stocks climb while haven assets tumble, without any fresh catalyst Aussie outperforms after RBA wasn’t as dovish as markets expected Today, services PMIs from both the UK and US will dictate the action Stocks advance, yen crumbles as “no news is good news” Global risk appetite returned on Monday, in the absence of any material news or fresh fundamental catalysts to speak of. US stock markets recorded decent gains, with the benchmark S&P 500 (+0.68%) closing at a two-month high, [..]

European Open Preview – Dollar steady despite healthy US data; RBA in focus

Posted on February 4, 2019 at 9:08 am GMT

Dollar unable to rally even after US payrolls smash expectations Risk sentiment mostly in positive territory today amid trade optimism Aussie on the back foot ahead of RBA decision Dollar unimpressed by strong US data, as Fed casts shadow Nonfarm payrolls smashed expectations in January, clocking in at a robust 304k, much higher than the anticipated 165k – though last month’s print was revised down significantly, mitigating some of the good news. Wage growth held steady at 3.2% in annual [..]

European Open Preview – Dollar looks to payrolls; euro halted in its tracks

Posted on February 1, 2019 at 8:46 am GMT

The US employment report takes center stage today; dollar may be at risk Euro turns lower as Italy enters recession, Weidmann strikes dovish tone US stocks advance amid “progress” in trade talks Dollar rebounds, turns its sights to US employment data The dollar shaked off some of its post-FOMC weakness against a basket of six major currencies, mainly because the euro retreated (see below). There was little in terms of US catalysts, but that changes today, as the all-important jobs [..]

US Nonfarm payrolls to reveal government shutdown implications – Forex News Previews

Posted on January 31, 2019 at 3:33 pm GMT

Unlike other agencies, the US Bureau of Labour Statistics was fully funded to continue data collection for the employment sector during the four-week partial government shutdown, with the famous Nonfarm payrolls report set to be released on time, on Friday at 1330 GMT. This will be the first major piece of evidence on how the economy kicked off the new year, but a slower job growth might not be a big surprise as subdued public services have likely put some new hiring on [..]

European Open Preview – Dollar suffers losses as Fed abandons hiking plans

Posted on January 31, 2019 at 8:53 am GMT

Fed removes guidance for more hikes; dollar crumbles, stocks soar Trade talks conclude today – any signs of progress crucial for markets Eurozone releases GDP data, risks seem skewed to the downside Dollar drops, stocks roar as Fed folds on further rate hikes While the Fed kept rates unchanged as expected yesterday, the meeting wasn’t short of surprises. Policymakers adopted an even more cautious tone, dropping the reference that further gradual rate hikes will be needed, instead reiterating the mantra [..]

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