All Articles Tagged - USDJPY

Higher market volatility led by yen, gold and equities – Volatility Watch

Posted on July 16, 2024 at 6:58 am GMT

Euro/dollar volatility remains low despite weekend’s events Volatility in commodities jumps, apart from oil Stock indices experience stronger volatility, decoupling from Bitcoin Euro/dollar volatility remains very low despite last week’s weaker CPI report and the weekend’s gun attack on the Republican Presidential candidate. On the flip side, volatility in yen crosses has increased considerably as the BoJ is rumoured to have intervened last week in dollar/yen, ahead of the end-July BoJ gathering. In the meantime, volatility in gold has jumped to the highest level of the [..]

Market Comment – A confused market tries to find its footing

Posted on July 15, 2024 at 7:49 am GMT

Dollar is steadier following the weekend’s events Chairman Powell speaks today as outlook becomes challenging Bitcoin benefits from developments and gold remains above $2,400 China’s CPC plenary starts today and could generate headlines Market digests the events of the weekend A numb start to the trading week as the market is digesting the weekend’s events regarding the US Presidential candidate Donald Trump. The attack during a Republican rally in Pennsylvania brought back memories from a distant past. There is lots [..]

A September Fed rate cut could lead to an easing spree during end-2024 – Special Report

Posted on July 12, 2024 at 10:45 am GMT

Market prices in at least two rate cuts from Fed ECB, BoE expected to follow suit despite divergent economic conditions SNB and BoC could ease further; RBNZ possibly close to a summer rate cut BoJ and RBA could surprise with rate hikes during 2024 We are halfway into 2024 and the countdown for this year’s key event, the US presidential election, has already started. With geopolitics taking a backseat lately, despite both the Ukrainian-Russian and Israeli-Hamas conflicts remaining unresolved, political risk is [..]

Week Ahead – ECB set to hold rates, plethora of data on the way

Posted on July 12, 2024 at 10:03 am GMT

ECB is not expected to cut in July but will it signal one for next meeting? Retail sales will be the main highlight in the United States UK CPI report will be vital for BoE’s August decision China GDP data to kickstart busy week ECB meets amid sticky inflation The European Central Bank concludes its two-day policy meeting on Thursday but no change in interest rates is anticipated after trimming them by 25 basis points at last month’s gathering. The [..]

Market Comment – Weaker US CPI sends US stocks into a tailspin

Posted on July 12, 2024 at 7:36 am GMT

Top US stocks fall despite the weaker CPI report Dollar suffers but euro/dollar fails to make significant gains Gold climbs above the $2,400 level again Yen benefits from dollar weakness and possible intervention The September Fed rate cut is a step closer The US inflation report for June managed to produce a downside surprise. Despite the headline figure failing to breach the 3% level, the first negative month-on-month change since June 2020 and lower shelter CPI print allowed the market [..]

Market Comment – Wounded dollar awaits inflation numbers

Posted on July 11, 2024 at 7:57 am GMT

Powell’s testimony dents the dollar US CPI data could deepen the wounds Pound gains as BoE’s Pill dampens August cut bets Wall Street at new highs, gold gains as well Dollar softens ahead of CPI data The US dollar drifted south against most of its major peers on Wednesday, gaining some ground only against the yen, the franc, and the kiwi. What may have allowed dollar traders to maintain their short positions was Powell’s testimony before the House Financial Services [..]

Technical Analysis – USDJPY struggles to post higher high

Posted on July 10, 2024 at 12:11 pm GMT

USDJPY consolidates within narrow range Stochastics and RSI still head north USDJPY is moving sideways within the multi-year high of 161.94 and the 160.20 support level, with the pressure remaining towards the upside according to the technical oscillators. The stochastics are moving higher after the bullish cross within its %K and %D lines, while the RSI is flirting with the 70 level. Further advances could meet immediate resistance at the 38-year peak of 161.94 ahead of the next psychological number [..]

Technical Analysis – USDJPY reapproaches multi-year highs

Posted on July 10, 2024 at 7:21 am GMT

USDJPY edges higher after the pullback from 38-year high pauses The risk of a Japanese intervention is active at current levels Momentum indicators provide overbought signals USDJPY experienced a minor setback from its 38-year high of 161.95, which quickly came to a halt at the April peak of 160.20. The pair is on track to revisit its recent multi-year high, but traders should be cautious as the market has approached levels that the Japanese side might be willing to defend. Should bullish [..]

Market Comment – Spotlight falls on Fed Chair Powell’s testimony

Posted on July 9, 2024 at 8:32 am GMT

Dollar stays on the back foot ahead of Powell Euro gains ground after French vote Yen steady as BoJ discusses bond purchases Wall Street extends rally, gold pulls back Traders lock gaze on Powell’s testimony The dollar continued losing ground against most of its major counterparts on Monday, gaining somewhat only against the franc and the kiwi. With no major catalysts to drive the world’s reserve currency yesterday, traders may have maintained some of their short positions initiated after Friday’s [..]

Lower FX volatility as equities appear agitated – Volatility Watch

Posted on July 9, 2024 at 6:51 am GMT

Euro/dollar volatility drops aggressively Volatility in commodities increases a tad, apart from oil S&P 500 and Nikkei 225 indices’ volatility jumps Euro/dollar volatility has eased further over the past week as the market is feeling more relaxed after Le Pen’s far-right party failed spectacularly to win the highest number of seats in the second round of the French parliamentary election. Similarly, volatility in yen crosses has dropped a bit as the weaker US data prints have provided some breathing space to the ailing [..]

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