USDJPY

Japanese inflation to tick up in July but still has long road to the target – Forex News Preview

Posted on August 23, 2018 at 2:20 pm GMT

Japan’s Statistics Bureau will be releasing inflation readings for the month of July at 2330 GMT and while the Bank of Japan’s monetary policy remains super accommodative, inflation has been stubbornly refusing to pick up steam towards the central bank’s price target, making investors wonder whether the BoJ could join its counterparts in the tightening train anytime soon. In July, analysts expect core inflation to strengthen but still remain sluggish. The data are expected to show that the nationwide core Consumer Price Index (CPI), which excludes fresh food but includes energy products, grew by 0.9% y/y in June, slightly faster than in May [..]

US Open Preview – Dollar broadly higher as Aussie remains under pressure; ECB minutes due

Posted on August 23, 2018 at 11:16 am GMT

Here are the latest developments in global markets: FOREX: The dollar’s index versus a basket of currencies continued to trade higher on Thursday and is looking set to put an end to the six-day streak of declines, its longest since February. The US currency is posting gains across the board, though excluding the Aussie, they’re not sizable in nature. Euro/dollar and pound/dollar are both lower by around 0.1%, with dollar/yen up by 0.2%, not far below the 111 handle. Flash [..]

European Open Preview – Dollar up ahead of Jackson Hole; Aussie falls on political woes

Posted on August 23, 2018 at 8:05 am GMT

Here are the latest developments in global markets: FOREX: The dollar was 0.2% higher against a basket of currencies on Thursday after declining for six straight days. Potential catalysts for the currency’s direction during the remainder of the week are ongoing developments on the trade front and the Jackson Hole summit that will feature influential central bankers; Fed chief Powell will be giving a speech at the event on Friday. STOCKS: Wall Street finished Wednesday’s trading mixed. The Dow Jones lost [..]

Technical Analysis – USDJPY finds support at 2-month low; outlook still bullish

Posted on August 23, 2018 at 6:47 am GMT

USDJPY reversed higher after touching an almost two-month low of 109.75 on August 21 but remained below the 20- and 40-day simple moving averages (SMAs). Moreover, the technical indicators showed some improvement as well, endorsing the short-term bullish structure, with the RSI edging higher towards its neutral threshold of 50 and the MACD gaining positive momentum to climb above its red-trigger line in the negative zone. In case of further advances in the price, immediate resistance may be found near the 23.6% Fibonacci retracement [..]

US Open Preview – Dollar modestly down ahead of US-Chinese trade talks and FOMC minutes; oil advances

Posted on August 22, 2018 at 11:12 am GMT

Here are the latest developments in global markets: FOREX: Both dollar/yen and the dollar index, which gauges the dollar’s strength versus six major currencies were not much changed, fluctuating around 110.40 (-0.02%) and 95.14 (-0.12%) respectively before the widely expected trade talks between China and the US begin later today. Meanwhile, there’s a political noise in the US as two former associates to the US president were declared to be guilty of financial crimes on Tuesday. Yet, the markets largely ignored the news. FOMC meeting minutes due later today could bring [..]

European Open Preview – Dollar consolidates losses; US-China trade talks and Fed minutes awaited

Posted on August 22, 2018 at 7:58 am GMT

Here are the latest developments in global markets: FOREX: The dollar was little changed versus a basket of currencies on Wednesday, consolidating the considerable losses from previous days and especially after President Trump’s comments on Monday; he criticized rate normalization efforts by the Fed. Updates on the US-China trade relationship and Fed minutes from the central bank’s latest meeting may determine positioning during today’s trading. STOCKS: The Dow Jones, S&P 500 and the Nasdaq Composite finished Tuesday’s trading higher by 0.2%, 0.2% [..]

FOMC meeting minutes eyed for trade concerns – Forex News Preview

Posted on August 21, 2018 at 3:06 pm GMT

The US Federal Reserve is scheduled to release the minutes from its latest policy meeting on Wednesday at 1800 GMT and while the central bank opened the path for further rate increases this year, giving a strong assessment on the US economy, investors will be closely reading the detailed record to confirm that policymakers are indeed comfortable to raise borrowing costs even under a worsening outlook on global trade. Having already delivered seven rate hikes since the financial crisis, the Federal Open Market Committee (FOMC) announced on August [..]

US Open Preview – Dollar index under pressure after Trump’s Fed criticism

Posted on August 21, 2018 at 11:29 am GMT

Here are the latest developments in global markets: FOREX: The dollar index continued to trade lower early in the European session, weighed by comments made by the US President late on Tuesday who said that he is “not thrilled” about the central bank’s decision to raise interest rates this year as his administration is making efforts to reduce trade deficit and higher interest rates combined with a stronger dollar would limit export growth. He also accused China and the Eurozone of manipulating their currencies; the response from the [..]

European Open Preview – Trump comments weigh on dollar; Brexit updates eyed

Posted on August 21, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The dollar was losing ground against six major currencies on Tuesday, building on yesterday’s losses after some overnight comments by US President Trump; he expressed displeasure with the Fed raising interest rates. STOCKS: The Dow Jones finished Monday’s trading up by 0.35%, while the S&P 500 and Nasdaq Composite edged higher by a bit more than 0.2% and slightly less than 0.1% correspondingly. In Asian markets, the Japanese Nikkei 225 added 0.1% and the [..]

US Open Preview – Euro weakens as Turkish risks remain in the background; attention on trade

Posted on August 20, 2018 at 11:52 am GMT

Here are the latest developments in global markets: FOREX: Dollar/yen continued to pare Friday’s losses, last seen at 110.62 (+0.13%), while the dollar index, which gauges the dollar’s strength versus six major currencies, was also in recovery mode, trading at 96.30 (+0.21%), helped by a weaker euro and pound. Euro/dollar was on the back foot at 1.1422 (-0.15%), after rising softly the past two days, with investors worrying that the political turmoil between the US and Turkey could weigh on the Eurozone’s banking sector. On Monday, the [..]

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