All Articles Tagged - USDJPY

US Open Note – US retail sales released with minor impact on dollar; kiwi tumbles

Posted on August 17, 2021 at 1:06 pm GMT

US retail sales miss is mild hit to dollar The recovery in the US dollar after Friday’s sell-off is continuing today, with only a minor market reaction after the retail sales release. Retail sales in the US rose by 1.1% m/m in July versus -0.3% that was the forecast and from an upwardly revised 0.7% in the previous month. The US dollar index is up two days in a row and has nearly retraced half of its previous day’s loss. Dollar/yen is recouping some of the losses of the previous days, trading above 109.00. US [..]

Technical Analysis – USDJPY plummets below 23.6% Fibo; neutral-to-bearish bias

Posted on August 16, 2021 at 1:11 pm GMT

USDJPY is plunging below the 23.6% Fibonacci retracement level of the up leg from 102.60 to 111.65 at 109.50 and is moving towards the ten-week low of 108.70. The RSI indicator is dropping beneath the 50 level, while the MACD is approaching its trigger line for a bearish crossover in the negative region. In trend indicators, the 20- and 40-day simple moving averages (SMAs) are flattening as well as the Ichimoku lines. Immediate support to further losses would come from [..]

US Open Note – Yen surges due to risk-off factors; oil plunges

Posted on August 16, 2021 at 12:44 pm GMT

Dollar marginally up; Stocks ease The market is beginning the week on a cautious note. The US dollar index is ticking marginally up after a strong negative session, while US futures are suggesting a negative open after the S&P 500 and Dow Jones completed new record highs on Friday. Euro/dollar failed to surpass the 1.1800 psychological level on Friday and is moving lower, while pound/dollar is hovering around 1.3870. Yen shines; commodity currencies fall The yen has risen sharply because of several risk-off factors, all [..]

Daily Market Comment – Dollar takes some damage after soft data, gold smiles

Posted on August 16, 2021 at 8:19 am GMT

US dollar retreats after soft consumer sentiment survey Chinese data disappoints too, hitting risk sentiment in Asia Gold comes back to life, oil ignores Afghanistan tensions Dollar grapples with consumer uncertainty Currency markets closed with a bang last week after an American survey showed consumer sentiment cratering in August to reach its lowest level in a decade. The stunning loss in consumer confidence raised questions about the economy’s fortunes, and consequently about whether the Fed will be able to take [..]

US Open Note – Dollar is marginally down; euro shines

Posted on August 13, 2021 at 12:32 pm GMT

Dollar eases before Fed releases minutes next week The dollar is dropping from four-month highs as traders are waiting next week for more clues about the Federal Reserve plans for how and when it will unravel its massive stimulus program. After scaling a high of 93.13 earlier in the week, the dollar index has been lingering around 92.95 since Wednesday, when it was driven down by CPI data. Dollar/yen is creating the third consecutive red day after the climb to 110.80. The euro rebounded against the greenback even after yesterday’s [..]

Week Ahead – RBNZ to raise rates, dollar awaits Fed minutes

Posted on August 13, 2021 at 11:37 am GMT

It’s an electrifying week, with a crucial central bank meeting and a storm of economic releases to spark volatility. The Reserve Bank of New Zealand will make history by raising interest rates. However, there is scope for some disappointment in the kiwi, as markets are pricing in a decent chance for a ‘double’ rate hike. Meanwhile, another round of normalization signals from the Fed could begin to reawaken ‘king dollar’. RBNZ: Time for lift off The main event will be [..]

Japan to post modest Q2 growth as Olympic-fuelled Delta variant rages on – Forex News Preview

Posted on August 13, 2021 at 11:31 am GMT

Japan likely escaped a double-dip recession as data out on Monday (2:50 GMT) is expected to show the economy eked out slim growth in the second quarter. But that would probably be of small comfort for investors as even if the impact of the fourth wave of the coronavirus wasn’t as economically painful as first feared, predictions for a strong Q3 rebound are already being trimmed due to an escalating fifth wave. That can only be bad news for the [..]

US Open Note – FX markets swing sideways; Wall Street mildly lower

Posted on August 12, 2021 at 1:45 pm GMT

Currencies in a range as debate for bond tapering continues The FX world was on the sidelines during Thursday’s European session, suffering the summer doldrums in narrow ranges in the absence of any market movers. On Wednesday, US CPI inflation figures came almost as expected, raising hopes that the extraordinary spikes in previous months have likely reached a peak and therefore the Fed’s view of temporary inflation is probably right, making any aggressive monetary tightening actions less likely in the [..]

Will ‘king dollar’ reclaim its throne as the Fed tapers? – Special Report

Posted on August 11, 2021 at 3:05 pm GMT

One by one, Fed officials are getting behind the idea that their asset purchases should be dialed back soon. Whether this is announced in September or November doesn’t matter much. What matters is that the Fed is years ahead of the ECB and BoJ in the normalization game. The dollar held its ground recently even as US yields crumbled, so it could really shine once tapering gets rolling and Congress delivers even more fiscal juice. Falling into line More and [..]

US Open Note – Dollar pulls back after US CPI data release

Posted on August 11, 2021 at 1:04 pm GMT

US CPI data drives dollar lower All eyes were on the US CPI data release today. The US consumer price inflation rate remained at 5.4% in July, the same as the previous 13-year high and marginally above market predictions of 5.3%, mirroring the low base effect caused by the coronavirus crisis. There were not any surprises for the market; however, the dollar slipped from the five-week high of 110.80 versus the yen that was printed earlier today. The dollar index [..]

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