All Articles Tagged - USDJPY

US Open Note – Stocks improve and dollar surges

Posted on November 19, 2021 at 2:17 pm GMT

King dollar comes on top as rate hike prospects grow US stock futures are near their highs but are showing minor slack, more so the S&P and Dow Jones composites than the Nasdaq 100. Expectations of lift-off in rate hikes in 2022, once tapering ends, has aided the reserve currency. The dollar index has shot back above the 96.00 mark, but USDJPY plunged past the 114.00 level and is currently around 113.80. While unlikely, should job projections be around pre-pandemic [..]

Daily Market Comment – Fresh records for Wall Street; euro gets kicked by Lagarde again

Posted on November 19, 2021 at 10:20 am GMT

Optimism returns to equity markets as US stocks scale fresh all-time highs Rate hike expectations go into overdrive, dollar comes out the winner Dovish Lagarde deals another blow to battered euro Growth fears ease after solid data, buoy stocks After struggling a bit in the last couple of days, global stock markets look set to end the week firmly higher, led by another record close on Wall Street on Thursday. A robust set of economic indicators out of the United [..]

US Open Note – Dollar eases awaiting new market movers; Turkish lira plummets

Posted on November 18, 2021 at 1:57 pm GMT

Initial jobless claims come out; dollar still falling US jobless claims declined by one thousand in the week ending November 13th, a new pandemic low as the labor market continues to slowly recover from the coronavirus hit. The US dollar index is continuing the selling interest that started on Thursday, flirting with 95.60. Dollar/yen is hovering above 114.00 after posting a new high yesterday. Euro/dollar is jumping above the 16-month low of 1.1263, recouping some losses, while pound/dollar is approaching 1.3500. US stock futures are heading for a [..]

Technical Analysis – USDJPY stumbles around 4½-year highs as bullish forces wane

Posted on November 18, 2021 at 9:33 am GMT

USDJPY has been ramping up after the price encountered strong support at the 112.71 region in early November. However, the pair has been giving up ground since its recent rally halted at the 4½-year high of 114.96. This recent pullback is likely to continue as the short-term oscillators indicate that the positive momentum is fading. The MACD histogram is above zero but below its red signal line, while the RSI is flatlining in the 50-neutral mark. Should the selling pressure intensify, the 113.66 level might act as immediate support. A drop below this level would open [..]

US Open Note – Dollar climbs as prices and yields tick higher

Posted on November 17, 2021 at 2:49 pm GMT

Global inflation risks prevail, Canada delivers CPI data The US economy appears to be recovering well in the last quarter of the year and subsequently, speculation about a fresh Fed Chairman being appointed seems to be fading in the horizon. Yesterday’s surprise surge in US retail sales by 1.7% m/m in October hints that consumption remains at elevated levels. However, these figures are nominal as rising price pressures persist. The dollar index has touched 96.24, levels last seen in July [..]

Technical Analysis – USDJPY visits the region around 115.00; more than 4½-year high

Posted on November 17, 2021 at 8:49 am GMT

USDJPY is recording new highs slightly below the 115.00 psychological level, extending the bullish structure that started from the 112.70 support level. In trend indicators, the 20- and 40-day simple moving averages (SMAs) are turning higher, following the market price. The MACD oscillator is surpassing its trigger line in the positive region and the RSI is approaching the overbought territory with strong momentum. More bullish movements could send the market until the 115.50 barrier, registered in March 2017, before taking [..]

US Open Note – Dollar continues march higher after the US retail sales release

Posted on November 16, 2021 at 2:04 pm GMT

US retail sales ticks up US retail sales are the highlight of today. The figure climbed by 1.7% m/m for October as compared to 0.8% in the previous month, driving the greenback higher. Despite supply issues and delivery delays, there is a strong belief that customers will begin their holiday shopping earlier this year. Vice President Biden has made his selection for the position of Chairman of the Federal Reserve. Powell is the most qualified candidate, even though Brainard has [..]

Technical Analysis – USDJPY tackles mid-Bollinger and 114 border

Posted on November 15, 2021 at 4:34 pm GMT

USDJPY buyers are currently making efforts to return the price above the mid-Bollinger band and the 114.00 handle after recently finding some positive traction off the horizontal 100-period simple moving average (SMA). The climbing 200-period SMA is sponsoring a bullish outlook, while the flattening 50- and 100-period SMAs are endorsing a more sideways trajectory in the pair. The short-term oscillators are reflecting the increase in bullish forces. The MACD, above the zero threshold, is below its red trigger line but [..]

US Open Note – Greenback slips as Fed tapering starts

Posted on November 15, 2021 at 2:04 pm GMT

Fed tapering begins According to the FOMC meeting of November 2-3, tapering will begin this week as planned. The New York Fed announced its modified bond-purchase schedule last week, confirming that tapering will start this month. Until June, the Federal Reserve intends to keep reducing its purchases by $15 billion each month. There is a possibility of a change in tapering speed, but the Fed has indicated that it will only do so if it is necessary. Futures for the Fed Funds rate are still pricing in a Q2 liftoff of roughly two-thirds, while [..]

Daily Market Comment – Cautious tone ahead of risk events, dollar softer

Posted on November 15, 2021 at 10:03 am GMT

Stocks are mixed, dollar eases ahead of Biden-Xi meeting, US data, Fed speakers Modest lift from upbeat Chinese data as worries about property sector linger Yield differentials in driving seat in FX market, gold holds near highs Subdued start to week amid caution It was a relatively subdued start to the week across financial markets on Monday as stocks, bonds and the dollar were still reeling from last week’s US CPI shock. The panic and fallout from the jump in [..]

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