All Articles Tagged - USDJPY

Technical Analysis – USDJPY advances stumble at near 4-year highs

Posted on October 20, 2021 at 8:43 am GMT

USDJPY’s one-month rally off 109.19 may be running out of steam in the vicinity of the resistance band of 114.54-114.73, formed between the October 2018 and November 2017 rally peaks. Nonetheless, the climbing simple moving averages (SMAs) are endorsing the bullish picture. The Ichimoku lines are indicating that positive momentum is growing, while the short-term oscillators are still leaning towards the upside. The MACD, deep in the positive region, is persisting above its red trigger line, while the RSI, which [..]

US Open Note – Stocks buoyant, dollar slips and gold improves

Posted on October 19, 2021 at 1:55 pm GMT

Sentiment upbeat as US yields retreat; FOMC speakers to draw focus The recent climb in US stocks appears supported by gains in the technology and communication service sectors. Moreover, expectations of strong earnings and the stabilization in longer-term yields, after a drop, are not aiding the greenback. Despite the pickup in sentiment, inflationary concerns and the energy crisis seem to be risks that may drag on for a while longer. The dollar index surrendered ground from the 94.00 mark down [..]

Daily Market Comment – Dollar slumps, stocks advance amid earnings optimism

Posted on October 19, 2021 at 9:08 am GMT

US tech rebound leads global stocks higher as earnings season about to heat up Dollar plunges as mood improves and Fed seen falling behind in the tightening race Riskier currencies power ahead as US yields fall back Focus on earnings as jitters subside Worries about soaring inflation, supply-chain chaos and slowing growth in China were put on the back burner on Tuesday as investors turned their attention on the Q3 earnings season that kicked off last week with a bang. [..]

US Open Note – Inflation risks and the rate conundrum, dollar hangs in there

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

Risk evaporates but US Industrial production disappoints Market sentiment softened and the dollar remained subdued on the first trading day of week. Expectations that the Fed is preparing to taper is keeping the reserve currency afloat as well as pushing up the 10-year yield close to 1.62%. Inflation risks seem to be pushing central banks to take action, as markets are pricing in interest rate hikes in the later parts of 2022. US industrial production in September was much weaker, [..]

Daily Market Comment – Inflation and growth worries take heat off stocks rebound, dollar firms

Posted on October 18, 2021 at 8:58 am GMT

China GDP misses estimates, New Zealand CPI surges, reviving stagflation fears Stocks back in the red as doubts resurface but hopes on earnings keep optimism alive Bond yields edge up again as oil keeps climbing Kiwi erases earlier gains from rate hike bets as dollar bulls regain control China growth disappoints, dents risk appetite Economic growth in the world’s second largest economy slowed more than expected in the third quarter as China reported that GDP rose by 4.9% from a [..]

Technical Analysis – USDJPY holds marginally below 3-year high

Posted on October 18, 2021 at 6:46 am GMT

USDJPY is hovering slightly below the three-year high of 114.45 over the last 4-hour sessions. The 20- and 40-period simple moving averages (SMAs) are following the sharp bullish movement; however, the RSI is ticking lower in the 70 level. Moreover, the stochastic oscillator is moving lower, suggesting a downside correction in the short-term timeframe. If the price slips further and drops below the red Tenkan-sen line, immediate support could come from the 113.80 barrier, which overlaps with the 20-period SMA. [..]

US Open Note – Yen still plunges; oil heads towards $82.00

Posted on October 15, 2021 at 1:07 pm GMT

Dollar index on mute today; US retail sales surprised The dollar index is hovering around 94.00 today, following two red days; however, dollar/yen is heading sharply higher towards a fresh three-year high around 114.20 due to a weakened Japanese yen. US retail sales unexpectedly rose 0.7% for September versus an upwardly revised 0.9% the prior month. A dovish Bank of Japan and growing 2-year U.S.-Japan rate differentials continue to be important factors. US futures are suggesting another positive day, after strong earnings releases. The single currency [..]

Week Ahead – Inflation, supply chain fears to persist as China GDP, flash PMIs eyed

Posted on October 15, 2021 at 12:44 pm GMT

Inflation data will grab the headlines for another week as more countries publish CPI numbers. But concerns about global growth will also preoccupy investors’ minds as China reports its GDP estimate for the third quarter and flash PMI figures for October are released. With the major central banks preparing to pull back their pandemic-era stimulus just as supply constraints are adding to businesses’ pain, there is heightened sensitivity in the markets about the growing threat of persistently high inflation. Will [..]

Weekly Comment – Risk appetite returns but China GDP could revive slowdown fears

Posted on October 15, 2021 at 12:03 pm GMT

Stocks staged a mid-week comeback after fears about surging inflation and worsening supply shortages had pummelled risk assets. But easing concerns have put a stop to the spike in government bond yields, with USD also pulling back. However, those fears could quickly return as a raft of inflation and PMI data are on the way and China reports its GDP numbers. The highlights: China’s economy will be in the spotlight on Monday as GDP figures are expected to show growth [..]

Daily Market Comment – Wall Street roars back, yen blasted as optimism returns

Posted on October 15, 2021 at 9:04 am GMT

Riskier plays come back swinging as supply worries take a back seat Stocks and commodity currencies power higher, yen gets hammered Dollar heads for weekly losses ahead of US retail sales Riskier assets storm back Investors forgot about the mayhem in supply chains and energy markets on Thursday and instead increased their exposure to riskier plays, as a combination of encouraging US economic data and corporate earnings from the big banks cheered up the mood. Initial jobless claims in America [..]

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