All Articles Tagged - USDJPY

US Open Note – Russia-Ukraine peace talks remain in focus; US ADP figure rise and GDP revised slightly down

Posted on March 30, 2022 at 1:01 pm GMT

US ADP and GDP figures come out The ADP employment figure was the main release out of the US today. Private payrolls rose by 455K people in March, slightly over market expectations of 450K and it follows an upwardly revised 486K in February. As a result, the unemployment rate is predicted to fall to 3.7% in the NFP report on Friday, while average hourly earnings are expected to increase by a few percentage points year-on-year, to 5.5%. The consensus forecast is for 490k jobs in March, down from 678k in [..]

Technical Analysis – USDJPY retreats from 19-year high, upside risks linger

Posted on March 30, 2022 at 9:11 am GMT

USDJPY is currently trading around its red Tenkan-sen line around 122.00 after retracing below the 122.57 level, which is the 23.6% Fibonacci retracement of the up leg from the 114.40 low until the recorded 125.10 rally peak. The rising simple moving averages (SMAs) continue to endorse the prevailing ascent despite the fresh correction in the pair. For now, the Ichimoku lines indicate that bullish forces have yet to fully abate, while the short-term oscillators suggest that positive momentum is subsiding. [..]

NFP and PCE inflation to support hawkish Fed bets as dollar stands tall – Forex News Preview

Posted on March 29, 2022 at 2:41 pm GMT

Amidst the Ukraine crisis and dimming global growth outlook, the latest jobs report out of the United States will take centre stage on Friday (12:30 GMT). Before that, the Fed’s favourite inflation metric is released on Thursday. The data is expected to reinforce confidence in the US economy even as the risk of a recession grows in Europe. But is there a danger the Fed is about to tighten policy too aggressively and how much will this week’s numbers matter [..]

Daily Market Comment – Stocks perk up on peace talks, oil slump; pound knocked by dovish Bailey

Posted on March 29, 2022 at 9:29 am GMT

Equities look to be making a comeback as Russia-Ukraine talks eyed and oil surge eases Dollar softer despite elevated yields, pound steadier after skidding on Bailey’s remarks BoJ keeps buying JGBs but yen selloff takes a breather as officials get edgy about weakness Stocks head higher as sentiment improves Equity markets were in a bullish mood on Tuesday after the S&P 500 notched up its third straight session of gains yesterday, recouping more than 60% of its year-to-date losses. Heavyweights [..]

US Open Note – Yen dives sharply as BoJ buys unlimited bonds; oil back below 110

Posted on March 28, 2022 at 12:53 pm GMT

Dollar/yen rises to a fresh 6-year high The Bank of Japan reaffirmed its support for its Yield Curve Control aim; a statement of its dovishness. A record was set by offering limitless 10-year JGB purchases for three consecutive days at the YCC trading band’s upper limit of 0.25%. As of February 14, this was the BOJ’s first action since 2018, which marked the beginning of such purchases. According to the BoJ, the three-day operation was aimed to bolster YCC, and the timetable and amounts might [..]

Daily Market Comment – Yen sinks again as soaring yields lift dollar; oil hit by Shanghai lockdown

Posted on March 28, 2022 at 9:29 am GMT

BoJ steps in to preserve yield target as US 10-year jumps to 2.55%, dollar/yen shoots up Equities mixed as tepid optimism for Russia-Ukraine talks overshadowed by recession fears Oil prices slip again as China locks down Shanghai amid virus spike Yen goes back into freefall as BoJ defends yield ceiling After a short-lived bounce-back, the Japanese yen resumed its freefall in currency markets on Monday, sinking against all of its major peers. The latest nosedive came after the Bank of [..]

Technical Analysis – USDJPY looks overbought around 6-year high

Posted on March 28, 2022 at 7:02 am GMT

USDJPY is flirting with the more-than-six-year high of 123.25 after the aggressive surpass of the 122.40 support level. The 20- and 40-period simple moving averages (SMAs) are following the market’s reaction, while the technical indicators appear to be overbought. The MACD is trying to extend its move above its trigger line; however, the RSI is flattening above the 70 level. Should the pair make another run higher, it’s likely to meet resistance at 123.75 as this level has strongly capped prices since December 2015. A successful break [..]

Daily Market Comment – Yen swings higher, oil slips, stocks lack direction as war drags on

Posted on March 25, 2022 at 10:30 am GMT

EU refrains from banning Russian energy imports, shoring up euro but pushing oil lower Yen bounces back as BoJ absent from bond market, officials remark on FX stability Global equities go in different directions as geopolitical chaos blights outlook NATO, EU summits bring relief for euro but pain for oil The back-to-back meetings of NATO, G7 and EU leaders in Brussels on Thursday may have been a great show of Western unity against Russia’s actions in Ukraine, but they changed [..]

Week Ahead – Euro/dollar braces for US jobs and European inflation

Posted on March 24, 2022 at 3:59 pm GMT

The Fed keeps warning it will need to roll out the big guns in its battle against inflation. Traders have priced in faster rate increases to reflect this shift but the dollar hasn’t really benefited. Instead, it is the yen that has suffered. The coming week includes inflation stats from Europe and employment numbers from America, which combined could decide what’s next for euro/dollar. Fed leads the pack Fed officials are saying they are prepared to do whatever it takes [..]

US Open Note – US data enhance dollar as NATO summit begins

Posted on March 24, 2022 at 2:50 pm GMT

NATO summit could set the next phase in geopolitical crisis World leaders are attending a series of summits in Brussels on Thursday, as NATO, the G7 and European Union hold crisis talks over Ukraine. US President Joe Biden will take part in all three meetings amid a backdrop of destruction in Ukraine, frozen global business transactions, and rising energy and fertilizer prices. The ongoing Ukrainian geopolitical crisis is already developing into another inflation nightmare thanks to the sanctions war, and [..]

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