All Articles Tagged - USDJPY

Technical Analysis – USDJPY flirts with lower surface of bullish channel near 110.00

Posted on July 28, 2021 at 1:22 pm GMT

USDJPY is struggling to surpass the 20- and 40-day simple moving averages (SMAs) after its rebound stalled around the 23.6% Fibonacci retracement level of the upward wave from 102.60 to 111.65 at 109.50. Currently, the price is holding inside the Ichimoku cloud and near the lower surface of the upward sloping channel at 110.00. The mild upside reversal in the RSI and the slowdown in the MACD justify the diminishing buying pressure, though both remain near their neutral thresholds, endorsing the [..]

US Open Note – Stocks muted near highs, dollar firms

Posted on July 28, 2021 at 1:16 pm GMT

Markets prepare for FOMC release Yesterday’s consumer confidence for July ticked only marginally higher from June confirming optimism in the US, however, the dollar index weakened slightly, before stabilizing around the 92.50 level ahead of the Federal Open Market Committee meeting. Expectations are that Federal Reserve Chairman Jerome Powell will once again be watchful of his rhetoric towards tapering of asset purchases and the timeline and commencement of such actions. Markets will also be ready to digest any clues from [..]

Daily Market Comment – China selloff steadies but Wall Street wobbles; dollar eyes Fed

Posted on July 28, 2021 at 8:29 am GMT

China jitters spread to global equities but rebound may already be underway US shares slip despite stellar earnings amid China and peak growth concerns Will the Fed heighten or soothe market nerves? Dollar inches higher ahead of Fed decision despite subdued yields Somewhat calmer day for equities after Asian tumult Stocks in China were attempting to break their losing streak on Wednesday following three days of carnage triggered by regulatory tightening that targeted domestic tech giants and for-profit education firms. [..]

Technical Analysis – USDJPY maintains sideways trajectory below broken trendline

Posted on July 28, 2021 at 7:30 am GMT

USDJPY was capped by the 20-day simple moving average (SMA) around the 110.40 resistance area on Tuesday, with the price pulling back to seek support near the 109.73 number once again. Previously, the crack below the long-term trendline forced the price into a sideways trajectory as the bounce at the bottom of the Ichimoku cloud at 109.05 withered the potential of sharper declines. With the RSI swinging around its 50 neutral mark and the MACD holding muted around its zero and signal lines, [..]

Daily Market Comment – Turmoil in China but broader market mood steady

Posted on July 27, 2021 at 9:10 am GMT

Freefall in Chinese stocks enters third day but rest of Asia takes cues from Wall Street US shares get another earnings lift, hit new records, big day ahead for tech giants But it’s all quiet outside of equities as Fed decision awaited Pound outperforms, flirts with $1.38, as dollar drifts ahead of Fed outcome China shares crash again amid crackdowns Stocks in China and Hong Kong plummeted for a third day on Tuesday as technology, real estate and for-profit education [..]

US Open Note – Calm day ahead of busy week; US futures are flat

Posted on July 26, 2021 at 12:58 pm GMT

Quiet day ahead of Fed meeting this week The US dollar has a negative momentum ahead of the FOMC meeting this current week. US 10-year treasury yields declined to a record low of 1.13% before recovering to 1.20 driving the dollar index down to 92.70. Dollar/yen is holding near 110.30 and is currently red, while US futures are neutral. The Fed meeting will focus on the concerns about the economy and the expectation is to tread carefully on the path [..]

Daily Market Comment – US equities shine ahead of Fed but caution prevails elsewhere

Posted on July 26, 2021 at 8:57 am GMT

Wall Street rallies on strong earnings even as US Covid hospitalizations surge Caution is the order of the day elsewhere as Delta and growth fears linger Dollar starts Fed week on steady note but yen and gold inch higher, yields slip again US stocks ride high; can anything spoil the fun? Wall Street ended Friday in a euphoric mood as Q2 earnings continued to beat expectations, but trading has gotten off to a much more cautious start on Monday, with [..]

US Open Note – Stocks to close the week unharmed as the focus turns to the Fed

Posted on July 23, 2021 at 1:16 pm GMT

Stocks flirt with record highs Despite a choppy week, which spurred pandemic fears before putting them back to rest again, global stocks bound up their wounds as investors cheered on robust corporate profits and assessed that fiscal and monetary policy could still protect economies from covid breakouts. Industrials, basic materials, and consumer cyclicals drove gains in the pan-European STOXX 600 today, pushing the index closer to its recent record highs, while upbeat earnings in telecommunications and autos underpinned sectoral advances. Wall [..]

Week Ahead – Fed to talk taper but stall on action; growth data in focus amid recovery doubts

Posted on July 23, 2021 at 11:16 am GMT

The Federal Reserve is expected to provide more hints on tapering when it meets next week but may stop short of revealing a timeline. Amidst jitters about the Delta variant, markets could whipsaw if the Fed cites both progress and dangers ahead. Meanwhile, US and Eurozone GDP readings could further muddle the market mood as they will likely confirm the solid rebound in Q2 even as uncertainty about the outlook is increasing. If all that wasn’t enough for investors to [..]

Daily Market Comment – Stormy week ends with US stocks at record highs

Posted on July 23, 2021 at 8:48 am GMT

Nasdaq 100 closes at new record as investors warm up to tech stocks Euro heads lower after ECB commits to negative rates for longer Global PMIs coming up to shed some light on recovery speed Delta blues fade There was no shortage of volatility in financial markets this week. The week started with investors losing their cool over a slowdown in global growth as the rampaging Delta variant left its marks on several economies, but those worries soon faded into [..]

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