All Articles Tagged - USDJPY

Technical Analysis – USDJPY retreats below 50-MA; upside risks under strain

Posted on July 5, 2021 at 9:33 am GMT

USDJPY has lost its recent footing off the 50-period simple moving average (SMA), as buyers’ latest efforts have become curbed by the mid-Bollinger band at 111.18. Nonetheless, the advancing SMAs are defending the near-term uptrend that evolved from the April 23 trough of 107.47. The short-term oscillators are transmitting conflicting signals in directional momentum and convincing negative pressures have yet to gain an advantage, despite the pullback from the near 15-month peak of 111.65. The MACD continues to dive beneath [..]

Daily Market Comment – Dollar knocked down after jobs report, stocks party

Posted on July 5, 2021 at 8:54 am GMT

US dollar takes some damage, equities hit new records after US jobs data Oil prices remain elevated amid OPEC divisions, talks continue today Aussie dollar braces for crucial RBA meeting early on Tuesday Nonfarm payrolls hit the sweet spot The US employment report left markets spinning on Friday. While nonfarm payrolls overcame expectations by a solid margin, the unemployment rate paradoxically rose a touch, baffling traders and sparking a fresh round of volatility in most assets. The two numbers come [..]

US Open Note – Dollar slips as NFP report is mixed

Posted on July 2, 2021 at 1:04 pm GMT

Dollar dives after NFP report; unemployment rate advances to 5.9% The US payrolls figure has stolen the attention of traders today as has taken the markets by surprise. The dollar lost some ground after the publication of the non-farm payrolls report, falling near 111.30 against the yen after a strong bullish start towards 111.70 earlier in the day. The US dollar index is moving lower after it topped at 92.74 during the release, while S&P 500, Nasdaq 100 futures and Dow Jones are recording new [..]

Week Ahead – RBA meeting and Fed minutes to spice things up

Posted on July 2, 2021 at 11:36 am GMT

It’s a relatively quiet summer week for global markets. The only central bank meeting will be in Australia, where the Reserve Bank could take the first step towards exiting cheap money. In America, the minutes of the latest FOMC meeting will shed some light on when the Fed might take its own foot off the accelerator. Overall, the theme of monetary policy divergence will likely dominate the FX arena moving forward. Exit strategy The dollar has returned to life these [..]

Daily Market Comment – Dollar on the offensive ahead of NFP; OPEC+ decision postponed

Posted on July 2, 2021 at 8:59 am GMT

Dollar scales fresh highs as NFP forecasts edge up, hits 15-month peak versus yen Another mixed day for stocks as Asian growth worries persist but S&P 500 extends record streak Oil slips from highs as OPEC+ meeting delayed amid disagreements Dollar strength prevails on Jobs Friday The US dollar maintained its northward bound on Friday as investors awaited the hotly anticipated jobs report out of the United States for possible clues about Fed tapering. There have been subtle hints from [..]

US Open Note – Stocks near highs; dollar’s radar locked on payrolls

Posted on July 1, 2021 at 1:56 pm GMT

Markets tense prior to US Manufacturing PMI and ahead of NFP payrolls Yesterday’s stronger ADP employment numbers floated the dollar index up, reaching an intra-day high of 92.50 and now investors’ focus is locked on Friday’s NFP payrolls report, to underpin the greenback. Currently, the 10-year yields are at 1.43%, not aiding the dollar much. It remains to be seen if the US ISM Manufacturing PMI will also beat forecasts of 61.0 for June, which could help the dollar counter [..]

US Open Note – Dollar continues to move north after ADP release

Posted on June 30, 2021 at 1:03 pm GMT

The dollar held on to recent gains as virus concerns arose in a market already on edge before the NFP report on Friday that is considered as critical to the Federal Reserve’s monetary policy outlook. Any clues about labor market strength might put more worries on the Fed to move faster on interest rate hikes, potentially lifting the dollar, while data that falls short of expectations could put the currency at risk. In June, private businesses in the US recruited 692,000 workers, down from 978 [..]

Can the US jobs report maintain the Fed-engineered calm? – Forex News Preview

Posted on June 30, 2021 at 11:26 am GMT

As speculation about the Fed’s next course of action reaches fever pitch, attention will turn to the latest nonfarm payrolls report on Friday (12:30 GMT). The all-important jobs data could set the tone for the summer as investors prep for possible taper signals at August’s Jackson Hole symposium. With inflation soaring, the not-so-hot labour market has been the Fed’s main rationale for putting off the start of taper discussions. Progress in the jobs recovery is seen as paramount for greenlighting [..]

Daily Market Comment – Dollar cools as Delta fears ease; Wall Street sets another record

Posted on June 30, 2021 at 9:15 am GMT

Fears over Delta variant subside slightly but soft data limit gains in Asian equities US shares hit fresh records but improved mood knocks dollar off highs Gold slips again, while oil’s rebound also falters ahead OPEC+ meeting Markets steadier as alarm over Delta variant eases Stocks in Asia were mostly in the green on Wednesday as concerns about the impact of tighter restrictions across the region to combat the highly contagious Delta variant abated slightly while another record close on [..]

Technical Analysis – USDJPY struggles to close above 1-year high of 110.96

Posted on June 30, 2021 at 7:25 am GMT

USDJPY is finding its feet at the red Tenkan-sen line at 110.41 after fading from its latest clocked 15-month high of 111.11. The two-month positive structure’s bullish defences are becoming clearer now with the pair shaping higher lows and highs above the rising simple moving averages (SMAs). The Ichimoku lines are indicating that bullish momentum is taking a breather, while the short-term oscillators are transmitting mixed signals in relation to the price’s directional preference. The MACD is above zero and [..]

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