All Articles Tagged - USDJPY

US Open Note – Dollar leads the FX space on Labor day; RBA policy decision eyed

Posted on September 6, 2021 at 1:24 pm GMT

US dollar in recovery mode after NFP loss A faster-than-expected slowdown in US employment growth has not entirely written off the case of bond tapering this year but was solid enough to kick the can down the road and raise speculation for a potential announcement in November rather than at this month’s FOMC policy meeting. A significant progress in the US labor market is a prerequisite for the Fed to start unwinding its massive stimulus program, but with jobs growth [..]

US Open Note – Dollar in tears after NFP miss; euro spikes above 1.1900

Posted on September 3, 2021 at 1:54 pm GMT

Nonfarm payrolls miss forecasts; dollar down US nonfarm payrolls took center stage on Friday, presenting an employment growth of 273k for the month of August, which was way below the forecast of 750k but still enough to press the unemployment rate to 5.2% as expected, and let average hourly wages to spike faster than analysts anticipated by 4.3% m/m. Despite some early warnings from the private ADP employment report and the ISM PMI business readings this week, the data spooked [..]

Technical Analysis – USDJPY edges closer to a triangle breakout

Posted on September 2, 2021 at 2:51 pm GMT

USDJPY could not find enough buyers to exit the symmetrical triangle on the upside on Wednesday, remaining squeezed between its 20- and 50-day simple moving averages (SMAs) ahead of Friday’s nonfarm payrolls. Optimism for a triangle breakout has not entirely faded as the RSI managed to pivot near its 50 neutral mark after yesterday’s decline, though unless the indicator pins fresh higher highs above August’s peak, there might be little scope for a meaningful rally. Note that the MACD is attached to [..]

US Open Note – Dollar consolidates losses as jobs day looms; stocks mildly up

Posted on September 2, 2021 at 1:37 pm GMT

US Jobless claims pin fresh low as expected The downbeat ADP private jobs survey and the dip in the employment component of the ISM manufacturing PMI created plenty of interest in the US initial jobless claims numbers on Thursday as anxiety continues to grow about whether Friday’s nonfarm payrolls will meet the criteria for the Fed’s bond tapering plans to start sooner rather than later. Encouragingly, though, the data presented a more or less expected outcome, showing an increase of [..]

US Open Note – Downbeat ADP jobs data drive dollar lower; Wall Street opens higher

Posted on September 1, 2021 at 1:35 pm GMT

Global stocks have a good start to September Global markets had a solid start to September, with European equities following their Asian rivals higher and crawling back towards their recent record highs despite fears of a growth slowdown, the troubling supply shortages, and the scarcity of qualified employees, which keep production costs elevated. Of course, businesses can always raise margins and transfer the increased costs to consumers, making cost pressures less problematic as long as consumption remains solid and central [..]

Technical Analysis – USDJPY looks for a bullish triangle breakout

Posted on September 1, 2021 at 7:24 am GMT

USDJPY has been gradually recovering within a symmetrical triangle over the past two weeks, but it was unable to close decisively above the 110.00 level. Having stepped on the 20-day simple moving average (SMA) and jumped into the upper bullish Bollinger band area, the price is currently looking for the opportunity to break the surface of the triangle formation, which could consequently bolster buying forces above the 110.00 number and towards the 110.70 – 111.00 resistance area. Note that the levels coincide with [..]

Daily Market Comment – Fed shockwaves reverberate

Posted on August 31, 2021 at 8:31 am GMT

Equities shine, dollar bruised as markets digest Fed signals Chinese PMIs disappoint, setting the stage for more stimulus European inflation data in focus as euro attempts rebound Wall Street hits fresh records The party in US stock markets continues to rage. The S&P 500 and the Nasdaq hit new milestones yesterday, with tech heavyweights being at the tip of the spear after the Fed chief reassured investors that the cheap money punchbowl won’t be taken away immediately. With the Fed [..]

US Open Note – Dollar flat as Powell continues to feed Wall Street bulls

Posted on August 30, 2021 at 1:58 pm GMT

Dollar remains muted after Friday’s pullback The delta wave uncertainty forced Federal Reserve Chairman Jerome Powell to play it safe during Friday’s Jackson Hole symposium, setting no timeline and expressing no rush for winding down stimulus despite flagging that bond tapering will start this year. His dovish remarks sent the dollar index lower but within the 92.00 territory as the euro and the pound found the chance to steal some ground on the news. ECB’s Villeroy signals PEPP reduction, but [..]

Daily Market Comment – Stocks party, dollar drops after vague Powell speech

Posted on August 30, 2021 at 8:42 am GMT

Fed Chair Powell offers no concrete taper signals at Jackson Hole Equities, gold, and commodity FX storm higher, dollar takes a hit Spotlight falls on Chinese PMIs and US jobs report this week Powell plays it slow Global markets breathed a sigh of relief on Friday after the world’s most important central banker didn’t outline a clear roadmap towards normalizing monetary policy. Speaking at the Jackson Hole symposium, Fed Chairman Powell highlighted the Delta outbreak as a risk that has [..]

Technical Analysis – USDJPY holds neutral as 50-Day MA obstructs gains

Posted on August 27, 2021 at 1:52 pm GMT

USDJPY has enjoyed some modest gains over the past 10 days but the overall trend in the last couple of months has been flat. Momentum indicators are portraying a mixed picture in the short term. The stochastics continue to rise and the %K line has even crossed into overbought territory. However, the MACD has yet to climb above zero and the red signal line remains mostly flat, suggesting the bullish shift in the short-term bias hasn’t been very substantial so [..]

USDJPY

XM Live Chat