All Articles Tagged - USDJPY

Daily Market Comment – US dollar, yields, stocks climb in tandem ahead of inflation test

Posted on August 11, 2021 at 9:08 am GMT

Dollar extends rally, hits more than 4-month high ahead of crucial US CPI data Euro and yen can’t catch a break, riskier currencies slip too Tech stocks take a tumble but Senate’s infrastructure bill nudges Dow and S&P to record Dollar charges ahead; will CPI data fuel or dent rally? The post-NFP boost for the US dollar and Treasury yields showed no sign of abating on Wednesday as investors continued to ramp up their bets that the Federal Reserve will [..]

Technical Analysis – USDJPY to hold its bullish tone

Posted on August 11, 2021 at 7:19 am GMT

USDJPY settled at solid base around the former support area of 109.05 last week, drifting northwards to claim the previous resistance area of 109.54 and peak at a one-month high of 110.73 on Wednesday. Although the neutral trajectory is still intact in the short-term picture, the momentum indicators set up the potential for another bullish swing to take place in the coming sessions, but with some caution. Specifically, the RSI is rising with a strong positive momentum above its 50 [..]

US Open Note – Dollar leads the way as euro falters; oil soars

Posted on August 10, 2021 at 1:04 pm GMT

Dollar heads up but faces some downside pressure; stocks unchanged The US dollar is broadly heading north today on predictions that the Federal Reserve will eventually reduce its stimulus program, but it has come under pressure versus some majors. Strong job numbers on Friday showed that the economy is still recovering. With markets nearing all-time highs because of the Fed’s exceptional stimulus measures, Bostic believes that another solid month or two of job growth should trigger the central bank to begin tapering its asset purchases, and that the Fed should proceed [..]

Pace of US CPI inflation to test dollar bulls – Forex News Preview

Posted on August 10, 2021 at 11:28 am GMT

While the Fed has distinctly stated that a potential shift in monetary tightening is strictly conditional on whether the US labor market will make significant progress, US CPI inflation figures could still be worth watching on Wednesday at 12:30 GMT. Forecasts are for a minor slowdown in July’s figures, which makes any deviations possible. An upside surprise could add pressure for monetary tightening as soon as September, providing more fuel to dollar bulls and vice versa. Inflation expectations remain below 2.0% According [..]

Technical Analysis – USDJPY struggles near 200-period SMA

Posted on August 9, 2021 at 1:55 pm GMT

USDJPY has eased beneath the 200-period simple moving average (SMA) and the 50.0% Fibonacci retracement level of the down leg from 111.65 to 108.70 at 110.17. The recent bounce off the 108.70 barrier added to the optimism for potential gains in addition to the upside moves of the 20- and 40-period SMAs. However, the RSI indicator is mirroring the recent bearish view, falling below the 70 level, while the stochastic is heading south, creating a bearish crossover within its %K and %D lines. In the case of further losses, [..]

US Open Note – Dollar bulls cheer on Nonfarm Payrolls; loonie resilient after Canadian jobs miss

Posted on August 6, 2021 at 1:21 pm GMT

Dollar, Treasury yields gear up after bullish NFP release The US dollar was in neutral mode until the eagerly awaited nonfarm payrolls report brought the bulls back into play. Employment growth spiked to 943k and above the forecast of 870k, consequently pressing the unemployment rate to 5.4% – the lowest since the 2020 pickup –versus the 5.7% anticipated. Average hourly earnings were another positive surprise, growing faster by 4.0% y/y compared to 3.9% expected. Dollar/yen bounced immediately to peak slightly [..]

Week Ahead – Dollar turns to US inflation data

Posted on August 6, 2021 at 11:44 am GMT

It will be a quiet summer week, with no central bank meetings and only a handful of economic data. The main event will be the latest edition of US inflation, which could shape the narrative around the Fed and the dollar. Overall, we are entering a period when market liquidity might be very thin, making sharp moves possible without much news. US inflation set to cool Fed officials have started to beat the tapering drums. This past week, another two [..]

Daily Market Comment – All about nonfarm payrolls

Posted on August 6, 2021 at 8:30 am GMT

US employment report today crucial for dollar and stocks Sterling gains altitude as BoE strikes a more cheerful tone Gold hammered, Wall Street celebrates new records Dollar braces for nonfarm payrolls The stakes are sky-high going into this US employment report. Fed officials have made it crystal clear that the most important element for the normalization of monetary policy is the labor market. Hence, the upcoming data could determine whether a September taper announcement is realistic or premature. Nonfarm payrolls [..]

US Open Note – Dollar unflattered by jobless claims; BoE moves closer to monetary tightening

Posted on August 5, 2021 at 1:45 pm GMT

Continuing jobless claims beat estimates but dollar faces constraints Predicting progress in the US labor market could be a tricky job for analysts in the next few months after recent comments from Fed speakers highlighted that a significant recovery in the US labor market is a prerequisite for the Fed to start winding down its government bond purchases. US initial jobless claims for the week ending July 31 came in line with analysts’ expectations, showing a moderate decline to 385k [..]

Daily Market Comment – Dollar shines after Clarida, BoE in the spotlight

Posted on August 5, 2021 at 8:29 am GMT

Dollar climbs as Clarida beats the rate hike drums, ISM hits record Bank of England meets today, sterling reaction hangs on QE votes Meme stocks return, gold takes a rollercoaster ride, oil slides Fed vice chief talks rate hikes It was a wild session in financial markets. The dollar took a hit early on after the ADP jobs report disappointed, only to stage a massive comeback after the Fed’s vice chief talked about rate increases and the ISM services survey [..]

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