All Articles Tagged - USDJPY

Greenback firms up again ahead of GDP and inflation data – Forex News Preview

Posted on October 26, 2021 at 1:51 pm GMT

The impending batch of US economic statistics due out at the end of this week could be critical in determining the direction of the dollar’s fortunes’. The Gross Domestic Product (GDP) figure will be released on Thursday at 12:30 GMT, while the Fed’s preferred inflation metric will come out on Friday at 12:30 GMT. Overall, the outlook for the dollar remains positive when compared to the euro and the yen. GDP and PCE price index in sight The first estimate of [..]

Technical Analysis – USDJPY stumbles but 23.6% Fibonacci keeps ascent active

Posted on October 25, 2021 at 2:21 pm GMT

USDJPY’s recent attempts to steer higher, after the pullback, are still being prevented by the mid-Bollinger band, despite the bound at the 113.38 level, that being the 23.6% Fibonacci retracement of the up leg from 109.11 until 114.69. The advancing 100- and 200-period simple moving averages (SMAs) are defending the bullish structure, which began at the 109.11 level, while the 50-period SMA is reflecting some dwindling in positive powers. The short-term oscillators are exhibiting mixed messages in directional momentum. The [..]

US Open Note – Calm day ahead of busy week; oil around $85

Posted on October 25, 2021 at 1:00 pm GMT

US futures near new highs; Facebook releases its earnings Today’s economic calendar is light, but the rest of the week promises to be very interesting, with central bank meetings in the Eurozone, Canada, and Japan, as well as earnings reports from the technology industry’s heavy hitters. Facebook will launch the earnings campaign immediately following Wall Street’s closing bell. It is somewhat bizarre to watch US futures trading marginally lower from their all-time highs, even as inflation predictions continue to rise. If the tech sector earnings approve, the [..]

Global stocks advance; gold accelerates ahead of Powell’s speech – US Open Note

Posted on October 22, 2021 at 1:21 pm GMT

Evergrande’s default delayed While everyone was convinced that the endgame for Evergrande was a certainty, China’s indebted property giant made a last-minute $84mln interest payment overnight, avoiding an official default ahead of its 30-day deadline expiring this weekend. The news brought some risk-on back into play on Friday, propping stock markets and underpinning commodity-dependent currencies such as the aussie and the kiwi, though whether the company can only delay an imminent default remains to be seen. For the time being, [..]

Week Ahead – ECB, BoC, and BoJ meetings in the spotlight

Posted on October 22, 2021 at 11:28 am GMT

It’s a huge week ahead, with three central bank meetings and a storm of data releases that will reveal how the major economies performed amid paralyzed supply chains. The Bank of Canada might signal that powerful rate hikes are coming, whereas the European Central Bank could push back against speculation of early tightening as Europe grapples with the energy shock. Similarly, investors may have gone too far with pricing in aggressive rate increases in the UK and Australia. BoC – [..]

US Open Note – Growth concerns bring risk-off into play; dollar’s slide halts

Posted on October 21, 2021 at 1:40 pm GMT

Stocks falter as risk-off returns Better-than-expected corporate earnings have been a boon to stock markets this month, with Southwest and American airlines flagging today that even the hardest-hit industries by the pandemic can still stand on their feet despite the energy crisis. Nevertheless, below the surface global economic warnings are still flashing red. The pandemic’s nasty supply shocks will probably keep fueling global inflation pressures for longer and businesses such as Unilever, will not hesitate to transfer costs onto consumers [..]

Technical Analysis – USDJPY retreats after bearish doji candle

Posted on October 21, 2021 at 12:36 pm GMT

USDJPY is looking negative after yesterday’s bearish doji candle. The pair reached a fresh almost four-year high of 114.70 before reversing the gains, with the technical indicators falling too. The RSI is slipping in the overbought region, while the MACD is losing momentum above its trigger and zero lines, both suggesting a negative correction in the short-term. In case of more losses, the price could slip until the red Tenkan-sen line around 113.38 before meeting the 20-day simple moving average (SMA) at 112.50. Marginally beneath this line, the price [..]

Daily Market Comment – Evergrande jitters return, yen climbs, dollar steady

Posted on October 21, 2021 at 9:10 am GMT

Evergrande shares plunge after sale of unit falls through, mood sours in equities Treasury yields ease back as Fed dampens early rate hike talk Yen bounces back, dollar edges up but commodity currencies take a tumble Stocks under pressure as Evergrande default risks grow Equity markets were feeling the strain of a fresh panic about China’s heavily indebted property sector after troubled real estate giant – Evergrande – told investors that the sale of its property services unit for $2.6 [..]

US Open Note – Stocks oscillate near record highs; commodity currencies hold firm

Posted on October 20, 2021 at 1:50 pm GMT

Stocks consolidate gains as earnings surprise Stock markets have been relatively flat marginally below their summer record highs during early US trading hours on Thursday, with the pan-European STOXX 600 consolidating last week’s impressive rebound and US stock indices switching between gains and losses. While investors were almost convinced that higher input costs, labor shortages and lack of raw materials would raise serious concerns among companies, the earnings season has surprisingly been a tailwind to equity markets so far, showing [..]

Daily Market Comment – Dollar steadies as yields climb, Wall Street edges closer to record highs

Posted on October 20, 2021 at 8:46 am GMT

Dollar off lows as 10-year yield hits 5-month high but Fed rate hike still seen lagging others Yields likely to stay in spotlight as raft of Fed speakers coming up Strong earnings drive S&P 500 to fifth day of gains, but futures slip Rate repricing underway Expectations that high inflation is here to stay continued to firm in the bond markets, sending global bond yields to fresh highs in the last 24 hours. With energy and metal prices still soaring, [..]

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