All Articles Tagged - USDJPY

US GDP and PCE inflation up next before July FOMC – Preview

Posted on July 22, 2024 at 2:45 pm GMT

Fed to get final clues on growth and inflation before July meeting But with traders more preoccupied with politics, will the data move the dollar? Preliminary GDP is due Thursday and PCE inflation on Friday, both at 12:30 GMT Fed still wants to see more progress The recent inflation reports have brought some much needed relief for both policymakers and the markets, pointing to a resumption of the downward trend after several months of sideways movement. The Fed has even [..]

Market Comment – Technical outage triggers risk aversion, Biden steps down

Posted on July 22, 2024 at 8:22 am GMT

Markets in risk-off mode after outage Biden withdraws from Presidential race Gold and oil feel the heat of strong dollar Dollar rallies on haven flows The US dollar traded higher against most of its major peers on Friday, although its advance was paused today. With Fed fund futures indicating very little change in market expectations about the Fed’s future course of action, the dollar’s rally seems to have not been driven by developments linked to the Fed’s plans. Perhaps the [..]

Week Ahead – Flash PMIs, US GDP and BoC decision on tap

Posted on July 19, 2024 at 11:08 am GMT

US data awaited amid overly dovish Fed rate cut bets July PMIs to reveal how economies entered H2 BoC decides on monetary policy, may cut rates again Will investors add to their Fed rate cut bets? With investors ramping up their Fed rate cut bets, the US dollar suffered during the first half of the week, although it recovered some ground on Thursday. Following the softer-than-expected CPI data last week, several Fed officials, including Chair Powell, noted the data are [..]

Market Comment – Stock rout deepens on chipmaker selloff as dollar bounces back

Posted on July 19, 2024 at 9:12 am GMT

Wall Street headed for weekly slump amid China trade war fears Dollar stages dramatic reversal on safety bids but gold loses out Euro slips after ECB decision, yen steady but off week’s highs Rate cut optimism turns to gloom Equity markets were mostly in the red on Friday, adding to the weekly losses after a torrid week that began with optimism that a Fed rate cut is nearing but ended on heightened fears of a fresh trade standoff between China [..]

Midweek Technical Look – USDJPY, USDCHF, Oil

Posted on July 18, 2024 at 8:32 am GMT

USDJPY recoups some losses after drop to 6-week low USDCHF struggles to tumble below 0.8825 WTI crude oil advances after bouncing off 80.50 [..]

Market Comment – Stocks suffer a fall but not sounding the alarm yet

Posted on July 18, 2024 at 8:00 am GMT

Stocks under pressure but dollar fails to make gains ECB meets today, unlikely to produce a dovish shift Pound ignores data; yen continues to rally against the dollar Stock markets under pressure; feels like 2007 again Following last weekend’s events, the market is probably paying more attention to Donald Trump’s economic plan. Speculation about increased tariffs on Chinese goods, including high technology products, was probably one of the causes of the Nasdaq experiencing yesterday its weakest trading session since mid-December [..]

A repeat of the 2006-07 price action could spell trouble for the S&P 500 – Special Report

Posted on July 17, 2024 at 1:42 pm GMT

Performance of key market assets resembles the 2006-07 period The S&P 500 index could experience a sizable correction The current US 10-year yield drop could have legs Yen could benefit further as euro/dollar volatility is possibly heading north Fed readies for a September rate cut Almost one year after the last Fed rate hike, the latest developments in the US, predominantly the recent labour market report and last week’s weaker inflation prints, have probably tipped the scale in favour of [..]

Market Comment – Wall Street extends record streak, gold joins in

Posted on July 17, 2024 at 8:15 am GMT

Rate cut and soft landing bets propel US equities to new highs Gold also sets a new record as US yields sink despite Trump risks Pound and kiwi edge up on slight upside surprises in CPI data US stocks brace for soft landing Optimism that the Fed is well placed to engineer a soft landing by cutting rates soon continues to fuel risk appetite on Wall Street, even as equity markets globally struggle against the prospect of Trump 2.0. Worries [..]

Market Comment – Dollar recovers further on Trump boost

Posted on July 16, 2024 at 8:39 am GMT

US dollar extends rebound as US yield curve steepens on Trump bets Dow Jones hits fresh record but global stocks slip on trade war fears Dovish Powell lifts sentiment, retail sales eyed next Dollar catches a bid on Trump trade A steepening US yield curve helped the US dollar to bounce back from last week’s post-CPI lows as growing bets that Donald Trump would get re-elected as President pushed long-dated yields higher while short-term yields fell on firming expectations that [..]

Technical Analysis – Have USDJPY bulls lost the game?

Posted on July 16, 2024 at 8:19 am GMT

USDJPY finds support near 158.00 after rapid downfall Short-term risk remains in the bearish zone; eyes on 155.00 level US retail sales due for release at 12:30 GMT USDJPY set a strong foothold near its 50-day simple moving average at 157.90 after last week’s brutal exit out of the 161.00 territory. Note that the pair made a double top pattern near its 38-year high of 161.94 before descending, which typically indicates a bearish continuation. Despite the recent crash in [..]

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