All Articles Tagged - USDJPY

US Open Note – Yen is in vertical fall; oil surpasses $82

Posted on October 11, 2021 at 12:57 pm GMT

Yen plunges driving dollar/yen sharply higher As a new week begins, the yen continues to plunge, pushed lower by a comeback in Asian stocks despite a rise in Japanese yields. Indeed, the 10-year JGB yield, which is currently at 0.093%, is on its way to 0.1%. The pound is currently the strongest, thanks to hawkish statements from Bank of England officials over the weekend. The Australian Dollar is closely following, and it is leading other commodity currencies higher as well. The US dollar index is weakening, [..]

Technical Analysis – USDJPY pokes at 113.00 but major resistance still ahead

Posted on October 11, 2021 at 11:37 am GMT

USDJPY is in an ecstatic bullish market for the second consecutive day, stretching its steep ascent towards the 113.00 psychological mark, last seen at the end of 2018. The pair is well positioned in the overbought territory in the four-hour chart according to the RSI and the Stochastics, which are fluctuating comfortably above 70 and 80 respectively, strengthening the case for a downside reversal. Still, the bulls may have greater ambitions. With the key major resistance area of 113.79 laying some way ahead [..]

Daily Market Comment – Fed taper bets alive and well after NFP miss

Posted on October 11, 2021 at 9:27 am GMT

Treasury yields keep climbing after big miss in US payrolls, pressuring stocks Dollar mixed but steady, may get more direction from Fed and CPI data Pound edges up as BoE flags rate hike again but EU row casts shadow Is it still all systems go for Fed taper? The much anticipated jobs report on Friday raised a lot of question marks about how strong the momentum really is in the US labour market as nonfarm payrolls increased by just 194k [..]

US Open Note – Nonfarm payrolls throw cold water on dollar

Posted on October 8, 2021 at 2:20 pm GMT

Nonfarm payrolls miss forecasts Investors were eagerly waiting for a solid 500k growth in US nonfarm payrolls in September, but the actual results caught everyone by surprise when the data showed a significantly lower addition of 194k. Of course, there were some bright spots in the employment report as the August reading was upwardly revised and average hourly earnings strengthened faster than expected on a monthly basis. Still, the softer job creation was enough to witness the persisting labor shortages [..]

Daily Market Comment – Markets perk up ahead of NFP but dollar holds ground

Posted on October 8, 2021 at 8:51 am GMT

Equities advance as inflation and energy fears ease further and US debt default averted But dollar edges up too as US yields climb to fresh highs Focus on US jobs report; will likely clear the path for Fed tapering Risk-on returns as energy panic subsides Another rebound on Wall Street on Thursday set the tone for global equities on Friday as risk appetite recovered further after a tumultuous few days. Stock markets were roiled earlier in the week as energy [..]

US Open Note – Stocks turn green on temporary risk on; antipodeans outperform

Posted on October 7, 2021 at 1:56 pm GMT

Risk-on trading returns Risk-on sentiment continued to navigate markets during late European trading hours on Thursday as worries about the energy crisis took the back seat for the time being and the risk of a government default in the US was expected to be ease today after Democrats showed willingness to raise the debt ceiling to December on the Senate floor. Following complaints that Russia is holding back its energy supplies, mainly from Europe, Vladimir Putin said that his government [..]

Technical Analysis – USDJPY moves with weak momentum; bullish outlook

Posted on October 7, 2021 at 1:10 pm GMT

USDJPY is heading slightly down in the very short-term but is still holding well above the medium-term ascending trend line. The RSI is moving sideways in the positive region, while the MACD is flattening above its trigger and zero lines. The 20- and 40-day simple moving averages (SMAs) are still moving up and the red Tenkan-sen line is holding above the blue Kijun-sen line. In the positive scenario, the 112.07 key mark could be the immediate resistance ahead of the 112.20-112.40 [..]

US Open Note – Stocks slip again, and greenback remains buoyant

Posted on October 6, 2021 at 1:43 pm GMT

Risk appetite absent as dollar resilient after ADP jobs data Risk sentiment remains somewhat suppressed today, while rising US yields and growing inflationary pressures have kept the advance in the reserve currency buoyant. Yesterday’s reading of 53.0 in the ISM services PMI’s employment component, may have assisted today’s upbeat ADP employment data, which showed private non-farm payrolls rising by 568K, beating the forecast of 425K. Stubbornly high inflation and a strong NFP number could provide fuel for the Fed to [..]

Roaring dollar turns to nonfarm payrolls – Forex News Preview

Posted on October 6, 2021 at 11:29 am GMT

The US employment report for September will hit the markets at 12:30 GMT Friday. It will single-handedly decide whether the Fed pushes the taper button next month. As for the dollar, it has sliced through its rivals lately as investors searched for shelter from the stock market storm. The bigger picture remains positive in an environment where the Fed normalizes faster than the ECB and BoJ, and with the American economy being shielded from the global energy crisis. Crises everywhere [..]

Daily Market Comment – Stagflation fears hit sentiment as RBNZ hikes rates and oil jumps again

Posted on October 6, 2021 at 9:08 am GMT

Stocks struggle amid the growing threat of global stagflation RBNZ raises rates but kiwi falls as US dollar extends gains WTI futures hit 7-year high, fuelling inflation worries as oil rally continues Sentiment sours again as stagflation fears persist Global equities were back in the red on Wednesday as concerns about sluggish growth and higher inflation returned to haunt investors. The shift towards tighter monetary policy by central banks amid worsening supply shortages around the world and surging commodity prices [..]

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