All Articles Tagged - USDJPY

Market Comment – Busier calendar could support the dollar

Posted on June 25, 2024 at 8:21 am GMT

Richer US data calendar and Fedspeak today US stocks in the red again; uptrend intact Key inflation reports from both Canada and Australia Yen shows signs of life but still close to intervention level Dollar remains on the back foot The US dollar remains under pressure against the euro despite the relatively quiet newsflow. Chicago Fed President Goolsbee maintained his relatively dovish stance yesterday with the market focusing more on comments from San Francisco Fed President Daly. This relatively more [..]

Market Comment – Dollar headed for third weekly gains as stock rally cools

Posted on June 21, 2024 at 8:53 am GMT

Dollar stands tall after SNB cut and BoE’s dovish hold Yen enters intervention zone as Japan’s underlying inflation falls Euro slips on weak PMIs, US PMIs next in focus Nasdaq tumbles as Nvidia hit by profit taking ahead of triple witching Fed cut hopes not enough to dent the dollar The US dollar looks set to finish the week higher, extending its winning streak to a third week. Whilst signs of a cooldown in inflationary pressures as well as the [..]

Week Ahead – US PCE inflation the highlight of a relatively light agenda

Posted on June 21, 2024 at 7:25 am GMT

Core PCE inflation to test bets of two Fed rate cuts in 2024 Yen awaits BoJ Summary of Opinions, Tokyo CPI Canadian CPI data also enters the spotlight Will PCE data confirm Fed rate cut bets? Although the Fed’s updated dot plot pointed to only one quarter-point reduction by the end of the year, the softer-than-expected CPI numbers a few hours ahead of last week’s decision did not convince market participants about officials’ intentions. The weaker-than-expected retail sales numbers [..]

Market Comment – Fedspeak and US data could prop up the dollar

Posted on June 20, 2024 at 8:34 am GMT

Back in action with a full US data calendar and Fedspeak BoE meets but unlikely to produce headlines SNB cuts rates and remains willing to intervene in FX markets Yen underperforms as Japanese officials remain quiet Dollar remains on the back foot The rare mid-week day-off in the US is over with the market mostly preparing for tomorrow’s key release of the preliminary PMI surveys, which are critical for the euro area. The relaxation of both the political fears regarding [..]

Technical Analysis – USDJPY reapproaches multi-year highs

Posted on June 19, 2024 at 7:28 am GMT

USDJPY in a steady advance after pullback halts at 50-day SMA Momentum indicators are strengthening in their positive zones USDJPY experienced a strong setback from its 34-year high of 160.20 following an intervention by Japanese authorities in late April. However, the pair has been in a steady uptrend since then, attempting to revisit its recent multi-year highs. Should bullish pressures persist, the price could initially test the recent resistance of 158.25. Further upside attempts could then cease at 159.10, which is the [..]

Technical Analysis – USDJPY holds above neutral triangle after retail sales miss

Posted on June 18, 2024 at 2:02 pm GMT

USDJPY loses some pace after US retail sales, bullish trend signals hold Bulls must climb above 158.35-158.70 to boost market sentiment Weaker-than-expected US retail sales pressed USDJPY back below the 158.00 level, but with the pair already having crossed above a neutral triangle, optimism for a bullish trend continuation is still alive. The RSI remains in favor of the bulls, comfortably sloping upwards above the neutral mark of 50, although a sustained rise above the 158.35-158.70 zone is necessary to boost buying activity. If [..]

Volatility skyrockets in FX and stock markets – Volatility Watch

Posted on June 18, 2024 at 10:16 am GMT

Euro and pound pairs are very volatile but for different reasons Volatility is extremely low in the commodity sphere US and global equities exhibit volatility jump, Bitcoin seems quiet Volatility in euro crosses has picked up as the region suffers from political instability following the EU elections and fears of a renewed debt crisis. Also, pound pairs are very volatile ahead of the May UK CPI report on Wednesday and BoE rate decision on Thursday. In commodities, gold and silver have been exhibiting low volatility amid a period of rangebound [..]

Week Ahead – RBA, SNB and BoE next to decide, CPI and PMI data also on tap

Posted on June 14, 2024 at 9:21 am GMT

It will be another central-bank-heavy week with the RBA, SNB and BoE None are expected to cut but there’s room for surprises Retail sales will be the highlight in the United States Plenty of other data also on the way, including flash PMIs and UK CPI RBA is in a pickle The Reserve Bank of Australia will keep the central bank theme going on Tuesday when it meets for its June policy decision. Like their global peers, RBA policymakers had [..]

Market Comment – Dollar higher, yen under pressure but stocks feel good

Posted on June 14, 2024 at 8:18 am GMT

Yen suffers from BoJ’s inactivity Dollar recovers from Wednesday’s underperformance US stock indices’ euphoria continues BoJ meeting held no surprises The yen is under pressure again today as the Bank of Japan kept its interest rate unchanged and decided to trim its bond buying programme but postponed the announcement of the new size of bond purchases until the July meeting. Governor Ueda tried to moderate the market reaction at the press conference, but the market is mostly interested in actual [..]

Market Comment – Fed stops dollar’s CPI-related bleed, BoJ next

Posted on June 13, 2024 at 8:40 am GMT

Dollar tumbles after weaker-than-expected CPI data Recovers somewhat after Fed signals one rate cut BoJ decision looms as investors bet on July hike US CPI data propels Wall Street to fresh records Inflation slows, Fed sees one rate cut in 2024 After a turbulent session, the US dollar finished lower against all its major counterparts on Wednesday. That said, it seems to be licking its wounds today. The greenback was sold massively yesterday, after the US CPI data revealed that [..]

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