All Articles Tagged - USDJPY

US Open Note – Dollar turns down after printing new highs

Posted on November 12, 2021 at 1:46 pm GMT

Eyes on JOLTS job openings ahead of inflation expectations There is a scarcity of fresh information today. The JOLTS job openings for September and the preliminary November consumer mood index from the University of Michigan will be released later in the day. The results of the JOLTS survey should demonstrate that supply of workets continues to be the most pressing issue in the labor market. These are generally second-tier economic data from the United States, but they may garner more attention this time around because [..]

Week Ahead – More CPI data incoming; is the inflation storm about to get bigger?

Posted on November 12, 2021 at 12:58 pm GMT

As inflation in the United States hits a three-decade high, there could be further nasty surprises on the way as more countries publish their monthly CPI prints. The focus will also be on the economic recovery, as there is a host of other data coming up, including from the United Kingdom, Japan, China and Canada. Will global bonds join the selloff in US Treasuries if inflation surges elsewhere too, or will the dollar continue to ascend? US retail sales [..]

Weekly Comment – US retail sales in the spotlight

Posted on November 12, 2021 at 11:21 am GMT

The USD jumped as inflation continues to cast a shadow over the markets after the latest CPI report, fuelling bets that the Fed might accelerate its normalization plans. Talks around inflation are likely to dominate the headlines in the coming week as a raft of CPIs and retail sales data is on the way, while China reports its industrial production numbers. The highlights: Inflation will be a ‘hot’ topic in Canada, Japan, and the United Kingdom next week. Stronger-than-expected CPI [..]

US Open Note – Stocks flicker green, dollar buoyant after yesterday’s upbeat CPI

Posted on November 11, 2021 at 2:52 pm GMT

Inflation expectations grow, down under jobs data disappoint and UK GDP dampens rate hikes Public holidays in Canada and the US have investors’ focus turned to Australian employment, and the growth and trade data out of the UK. Yesterday’s stronger US October CPI figures have boosted rate hike expectations as a higher inflation environment, which is aiding the greenback, is projected to put further pressure on the Fed to take action. The two-year US yield is also supporting the dollar, [..]

US Open Note – Risk off mood ahead of key US data, dollar ticks higher with yields

Posted on November 10, 2021 at 2:08 pm GMT

US Inflation report and unemployment claims mixed Investors are digesting today’s US CPI data and unemployment claims, which came out at 13:30 GMT. The figures could force the Fed to consider delivering tighter monetary policy measures, especially as inflation came in stronger. Supply shortages continue to linger and are feeding price pressures, while the rising US two-year yield is aiding the greenback. The dollar index has steered above the 94.00 mark, while the euro has dipped to $1.1535, and the [..]

Technical Analysis – USDJPY’s bullish structure at risk as price drops to 113 area

Posted on November 10, 2021 at 9:41 am GMT

USDJPY’s recent retracement from a near 4-year high of 114.73 has snagged in the vicinity of the 113.00 handle and the blue Kijun-sen line, but upside forces remain vulnerable. The lagging simple moving averages (SMAs) are climbing and continue to back advances in the pair despite growing negative pressures – reflected by the pullback in the price. The Ichimoku lines are indicating some waning in the positive drive but have yet to confirm negative pressures as the frontrunner. Currently, the [..]

US Open Note – Dollar still holds in negative territory after US PPI

Posted on November 9, 2021 at 2:16 pm GMT

Calm day with US core PPI Across the board, this week’s data has been strong but not so important. The market has instead been focused on central banks, with both the US Federal Reserve and the Bank of England meeting last week. The FOMC voted to taper immediately in November, with a $15bn reduction per month in purchases, which implies asset purchases would end completely by June 2022. Markets are continuing to price in a Fed lift-off that occurs sooner than the Fed desires. Even though many Federal [..]

Daily Market Comment – Stocks living the dream, yen shines as yields retreat

Posted on November 9, 2021 at 9:50 am GMT

US stocks remain at record highs, enabled by falling real yields Dollar a touch softer amid rumors Brainard could replace Powell Yen and gold enjoy more gains, sterling recovers despite risks Euphoria in the air Can anything stop the runaway train that is the US stock market? The S&P 500 closed at another record high on Monday, bringing its total gains for the year to a stunning 27%. Infrastructure spending, assurances from Fed officials that they won’t slam on the [..]

US Open Note – Dollar eases at the beginning of the week

Posted on November 8, 2021 at 2:01 pm GMT

FX arena remains calm As the new week gets underway, the outlook for the dollar is slightly negative. Having initially climbed on Friday, the dollar index later declined from the 94.62 high and has since remained negative. The euro, which has remained heavy following last week’s unsuccessful drop below the $1.1525 level, is still moving near $1.1570 with weak momentum. On Friday, the pound challenged the support near $1.3410, where it was unable to break through. A clean break below would set up a test of the December 2020 low of $1.3135, which would be a significant step forward. [..]

Daily Market Comment – Strong jobs report can’t lift dollar, but equities shoot up

Posted on November 8, 2021 at 9:27 am GMT

Dollar unable to capitalize on solid US employment report But stock markets push higher, powered by decline in yields Gold shines as well, focus now turns to litany of Fed speakers Strong NFP not enough to boost dollar The US employment report for October was pretty solid. Nonfarm payrolls overcame forecasts, the previous month’s number was revised higher, the unemployment rate fell another two ticks to reach 4.6%, and wage growth accelerated. Yet investors were not impressed. Treasury yields fell [..]

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