All Articles Tagged - USDJPY

US Open Note – Dollar jitters rise and commodity currencies flicker green

Posted on August 4, 2021 at 2:22 pm GMT

Dollar kept on back foot after huge ADP jobs miss What does today’s huge miss in the ADP Non-Farm Employment change say about Friday’s July NFP jobs report? Do the weaker numbers of 330K jobs gained in July versus the expectations of 695K and 692K in June dampen the picture of a strong US labour market? Do today’s employment results paint the opposite picture delivered by Fed Chairman Powell’s latest comments that employment is picking up at a good pace, [..]

Technical Analysis – USDJPY dives at 10-week low; bearish bias

Posted on August 4, 2021 at 6:38 am GMT

USDJPY is holding beneath the ascending channel in the medium-term, sending the market below the 109.00 handle. The price posted a ten-week low at 108.87 and the technical indicators are confirming this view. The RSI is falling below the neutral threshold of 50, while the MACD is extending its bearish move below its trigger line. More selling interest could meet the 108.40 support level and the 38.2% Fibonacci retracement level of the up leg from 102.60 to 111.65 at 108.20. [..]

US Open Note – Dollar fizzles despite tapering hints; European stocks at fresh record highs

Posted on August 3, 2021 at 1:08 pm GMT

Delta fears The rest of the day will be quiet in terms of data releases but there are enough things happening globally to keep investors busy in the next sessions. The delta outbreak has stretched to China, which has been out of the Covid headlines for a while, forcing authorities to halt flights and other public transports towards Beijing. With the second biggest economy of the world teaming up with other Asian economies to fight against the troubling new Covid [..]

Daily Market Comment – Yield meltdown boosts yen, RBA holds the line

Posted on August 3, 2021 at 8:29 am GMT

Yen shines, stock markets erase gains as bond yields slide Fed Governor Waller opens door for September tapering RBA sticks to tightening plan despite lockdowns, aussie jumps Bond market nerves lift yen The sense of nervousness that haunted the bond market in recent months has returned, putting investors across every asset class on red alert. Yields on government bonds continue to melt down, indicating spectacular demand for safe assets even despite their negative real returns. The question is whether the [..]

US Open Note – Stocks return to Asia opening levels and dollar a tad lower

Posted on August 2, 2021 at 1:39 pm GMT

Market sentiment on back foot ahead of US ISM Manufacturing PMI US major indices have given up their Asian price improvements, as sentiment deteriorates on US infrastructure talks and in advance of the US ISM Manufacturing PMI, scheduled for 14:00 GMT today. Friday’s US mixed data may have also played a part, which reflected that consumer sentiment in July declined further from the levels in June with inflation expectations also slowing. Employment pay for Q2 was lower and the Core [..]

Technical Analysis – USDJPY tumbles below 23.6% Fibonacci and SMAs

Posted on August 2, 2021 at 11:50 am GMT

USDJPY is attracting a selling interest beneath the 23.6% Fibonacci retracement level of the down leg from 111.65 to 109.06 at 109.67, shifting the simple moving averages (SMAs) to the downside in the short-term. The RSI is declining below the 50 level and the stochastic is moving towards the oversold territory. The next target is the July 29 low at 109.35. At this stage the market would likely see a resumption of the downtrend from the 16-month peak of 116.65 [..]

Daily Market Comment – Dollar stabilizes, stocks recover ahead of busy week

Posted on August 2, 2021 at 8:03 am GMT

Dollar trades quietly as traders brace for nonfarm payrolls week Wall Street powers higher, oil takes a hit after soft Chinese PMI ISM manufacturing index and RBA rate decision coming up Dollar stabilizes as Fed aftershocks fade The world’s reserve currency took a hit last week after the Fed chief reassured investors that rate increases were still far away and that the labor market still hasn’t recovered properly. Markets interpreted Powell’s patient tone as diminishing the chances for a tapering [..]

US Open Note – Stock indices to claim monthly gains despite jitters; dollar on the backfoot

Posted on July 30, 2021 at 1:18 pm GMT

Stock indices head for a monthly gain The month of July started with the impression that plans of monetary tightening could get more into fashion, adding a solid footing under currencies, while the earnings season could further brighten the outlook for stocks despite the inflaming virus numbers. Although the above backdrop has not entirely faded yet, the last week of the month found investors having second thoughts about how soon the Fed would wrap up its bond tapering plans as [..]

Week Ahead – Nonfarm payrolls highlight a huge week

Posted on July 30, 2021 at 11:37 am GMT

Global markets will go into overdrive next week, with two central bank meetings and a landslide of data coming up. The RBA will probably reverse its tapering plans amid extended lockdowns in Australia, whereas the Bank of England might strike a slightly more optimistic tone. Of course, the main event will be the US jobs report, which will determine how quickly the Fed dials back stimulus. Dollar braces for payrolls Fears that the Federal Reserve might announce a slowdown of [..]

US Open Note – FOMC’s tone knocks the dollar

Posted on July 29, 2021 at 1:57 pm GMT

Markets barely react to US GDP miss as Chairman Powell still on their mind; Eurozone inflation comes in strong The major US indices managed to remain resilient after yesterday’s FOMC comments from Chairman Powell, who signalled that patience is needed as there is still a ways to go before tighter policy. Markets have hardly reacted to the release of US GDP and jobless claims in relation to the expansion of the US economy in the Q2. The US economy grew by 6.5% in the [..]

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