All Articles Tagged - USDJPY

US Open Note – Euro remains afloat above 1.14 after impressive NFP data; oil fires up

Posted on February 4, 2022 at 3:01 pm GMT

Euro survives NFP surprise The euro had been dancing to the ECB’s hawkish beats on Friday until the US nonfarm payroll report came to put the brakes on its dynamic rally, but the common currency managed to remain afloat. Following a bitter contraction in ADP private employment figures, analysts believed that their forecasts for a 150k growth were too optimistic for the month of January. Yet, the government’s first monthly comprehensive employment stats of 2022 revealed that the US economy is [..]

Week Ahead – US inflation in the spotlight again, UK GDP eyed too

Posted on February 4, 2022 at 12:22 pm GMT

The skidding US dollar will be looking to the January inflation readings out of the United States to reverse its decline as financial markets enter a somewhat quieter week. UK GDP growth numbers will be the other highlight as the pound’s rally lost steam after the Bank of England sent some mixed signals on the economy. The kiwi might find some love should the RBNZ’s own survey show inflation expectations are creeping higher in New Zealand. However, with earnings releases [..]

Technical Analysis – USDJPY declines in ascending channel in near term

Posted on February 2, 2022 at 8:05 am GMT

USDJPY is falling for the fourth consecutive day, meeting the 20- and 40-day simple moving averages (SMAs) following the pullback off the 115.65 resistance level. The technical indicators are mirroring the latest weak momentum, as the RSI is flattening near its neutral threshold of 50, while the MACD is holding near its zero level. Also, the Ichimoku lines are endorsing a negative move as the red Tenkan-sen line is holding below the blue Kijun-sen line. In case the bears continue [..]

Will nonfarm payrolls disappoint in January? – Forex News Preview

Posted on February 1, 2022 at 4:12 pm GMT

The latest US employment report will be released at 13:30 GMT Friday. Nonfarm payrolls likely cooled because of the Omicron wave and a negative print cannot be ruled out. That said, the most important metric for the Fed is wage growth, as that will decide how many rate increases are needed to hammer inflation. As for the dollar, the playbook may be to fade the initial negative reaction if payrolls disappoint. Tight jobs market The US labor market has recovered [..]

Technical Analysis – USDJPY’s short-term rally falters as positive momentum fades

Posted on February 1, 2022 at 8:57 am GMT

USDJPY has been trending upwards after its long-term decline halted at the 113.46 region, erasing a significant part of its losses. However, in the last few four-hour sessions the pair has been giving up ground since its positive momentum failed to strengthen further. The momentum indicators also reinforce a loss of steam for the pair. The MACD histogram is found below the red signal line but remains in the positive area, while the stochastic oscillator has posted a bearish crossover in the oversold zone. However, the [..]

US Open Note – Market in a volatile day; dollar surges to more than 1 ½ -year high

Posted on January 28, 2022 at 1:55 pm GMT

PCE price index ticks up; Rates in US rise December’s PCE data came into focus today from investors. The core PCE price index rose from 4.8% to 4.9% year-on-year. Currently, it is the highest since September 1983 and well above the Fed’s 2% goal rate. Personal income and spending also came in at 0.3% and -0.6% m/m respectively. Because of the widespread distribution of the omicron variety, retail sales and consumption decreased in December of last year. Rates in the United States are rising, [..]

US Open Note – Dollar surges ahead of FOMC decision; stocks back in positive ground

Posted on January 26, 2022 at 1:54 pm GMT

Markets are gradually stabilizing, despite the fact that Russia-Ukraine tensions remain high. The two-day FOMC meeting concludes this afternoon. FOMC meeting ends today The Fed is widely expected to keep a hawkish stance as it prepares the market for a rate lift-off on March 15-16. This year’s three quarterly rate increases have already been factored into the market. In the absence of any new macro projections or Dot Plots, we expect Fed Chair Powell to make a very clear message [..]

Daily Market Comment – Stock selloff eases as Fed and BoC awaited

Posted on January 26, 2022 at 10:11 am GMT

Fed’s and BoC’s inflation-fighting credentials to be put to the test Dollar steady, yen pulls back as Fed and Ukraine jitters subside slightly Wall Street survives another rollercoaster session, Microsoft earnings lift futures Will Powell scare markets or soothe the panic? All eyes are on the Fed today as investors search for some much-needed policy guidance amid spiralling inflation, growing doubts about the economic outlook and geopolitical tensions in Eastern Europe. The FOMC decision itself, due at 19:00 GMT, is [..]

Technical Analysis – USDJPY constricted by MAs but bearish tone yet to dominate

Posted on January 26, 2022 at 9:36 am GMT

USDJPY is currently being squeezed between the 50- and 100-day simple moving averages (SMAs), also finding its feet on the lower Bollinger band in recent sessions, following the correction from the 5-year high. The longer-term SMAs continue to endorse the broader uptrend, while the slightly weakened incline of the 50-day SMA is reflecting the latest retreat in the pair. The short-term oscillators are sending mixed messages in directional momentum. The MACD is falling beneath its red trigger and zero lines, [..]

US Open Note – Market awaits FOMC meeting, keeps an eye on Ukraine crisis

Posted on January 25, 2022 at 1:52 pm GMT

FOMC minutes attract attention The two-day FOMC meeting begins today and concludes tomorrow with a decision as the global economy is feeling the pain of omicron variant. The Federal Reserve is widely expected to maintain its hawkish stance as it prepares the market for liftoff at its next meeting. Anyone hoping for some form of Fed Put this week will likely be disappointed. The Federal Reserve’s top aim right now is to keep inflation under control. Because the economy is on the verge of reaching full employment and inflation [..]

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