All Articles Tagged - USDJPY

US Open Note – ECB delivers new guidance but no surprises; stocks stay on recovery mode

Posted on July 22, 2021 at 1:09 pm GMT

Risk-aversion fades Concerns over the Covid delta variant and its potential drag on global growth took a back seat on Thursday, letting risk-sensitive currencies such as the Aussie and the kiwi pare some of Monday’s damage and become the best performers of the day. Even cryptocurrencies managed to gain positive traction within this spectrum, though whether they could set up any turnaround without Elon Musk expressing his overall support for digital currencies, was still a question. Earnings optimism overshadows pandemic [..]

Daily Market Comment – ECB to commit to negative rates

Posted on July 22, 2021 at 8:43 am GMT

ECB meets, likely to lock itself into cheap money for longer Wall Street approaches record highs again as Delta scare fades Dollar pulls back, commodity FX recovers, gold can’t catch a break ECB to strengthen forward guidance The main event today will be the European Central Bank meeting, which should be interesting after President Lagarde promised to deliver new policy signals. The central bank recently raised its inflation target and it wants to demonstrate that it is serious about hitting [..]

US Open Note – Markets recoup and dollar stays upbeat

Posted on July 21, 2021 at 1:44 pm GMT

Markets retain buoyancy as forex arena looks to ECB decision The domino effect from the latest delta variant shock around infection spikes seems to have been short lived as US major indices today continued to recoup recently surrendered ground. Concerns after the initial jolt to markets around the virus rhetoric seem to have subsided somewhat. The US dollar index seems cemented around its recent highs and the pickup in the 10-year yield to 1.24% may be aiding the reserve currency [..]

Technical Analysis – USDJPY extends bounce at 109 above SMAs

Posted on July 21, 2021 at 9:17 am GMT

USDJPY has managed to find a foothold around the 109.00 handle, lifting the price back above the simple moving averages (SMAs) and the 110.00 hurdle. The persistent bullish bearing in the SMAs is nurturing the positive structure, in spite of the retracement in the pair. That said, the active negative charge in the Ichimoku lines is endorsing the pullback from the 15-month high of 111.65 but the sideways bearing of the blue Kijun-sen line suggests buyers are countering downside pressures. [..]

Daily Market Comment – Wall Street bounces back, dollar powers higher

Posted on July 21, 2021 at 8:37 am GMT

Stock markets claw back losses as dip buyers return Dollar cruises higher with a little help from recovering yields But commodity currencies remain under pressure Dip buyers win again Wall Street staged a fierce comeback on Tuesday, without any particular catalyst behind this impressive recovery. Markets have been grappling with virus concerns lately, the fear being that new variants might be an endless phenomenon that doesn’t allow the world economy and especially developing economies to go back to normal. Nothing [..]

Daily Market Comment – Economic growth worries torment stocks and oil

Posted on July 20, 2021 at 8:45 am GMT

Economic slowdown concerns hit stocks, oil gets demolished Commodity currencies struggle too, dollar and yen shine But the panic could fade soon, as stimulus hopes return Pandemic blues hit markets Worries that the rampaging Delta variant will hamstring the global recovery took a bite out of riskier assets on Monday. Markets seem to be coming to the realization that the vaccines won’t be enough to completely obliterate the virus, as the mutations keep getting more resilient. Many governments are also [..]

US Open Note – Pandemic anxiety spurs risk aversion; Wall street futures in the red

Posted on July 19, 2021 at 1:02 pm GMT

Pandemic uncertainty resurfaces The cocktail of a contagious Covid delta variant and the stabilization in vaccinations revived memories of lockdown restrictions and amplified inflation fears at a time when investors were confident that the summer months could boost economic growth, especially in the hardest-hit tourism sector. The major concern is how the pandemic will evolve when the flu activity resurfaces in the last quarter of the year and whether governments will reimpose strict curbs or let herd immunity do its [..]

Daily Market Comment – Virus fears return to haunt markets

Posted on July 19, 2021 at 8:51 am GMT

Global stocks lose altitude as investors sense something ominous Sterling caught in the storm too, loonie slides with oil after OPEC deal Dollar and yen stand tall amid flight to safety, gold not so fortunate Gloomy mood spreads The sense of caution that dominated the bond market recently is now spreading over into stocks and currencies, leaving investors puzzled over what’s behind all the gloom. The initial spark seemed to be a short squeeze in bonds that hammered yields lower, [..]

US Open Note – Dollar rises further after retail sales; kiwi is notably up

Posted on July 16, 2021 at 1:02 pm GMT

Dollar continues to gain momentum as retail sales rise The US dollar is attempting to move higher against a basket of major currencies with US stock futures recovering some of yesterday’s losses. Dollar/yen is advancing above the 110.00 round number, surpassing the 40-day simple moving average (SMA) as retail sales for June gained 0.6% from the previous month, following a revised 1.7% drop in May and significantly outperforming market estimates of a 0.4% drop. Also, the Bank of Japan did not make any policy [..]

Daily Market Comment – Dollar heads for weekly gains, only kiwi can keep up

Posted on July 16, 2021 at 9:23 am GMT

The US dollar is eyeing a strong close to the week; can retail sales ruin its chances? Other majors flounder, except for kiwi, as strong CPI reinforces RBNZ rate hike bets Stocks struggle despite ultra-dovish Powell amid fears growth momentum has peaked Safe havens thrive as outlook gets cloudier It’s been an action-packed and what should have been a positive week for risk assets, with the earnings season getting off to a good start, the Fed’s Powell maintaining his pledge [..]

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