All Articles Tagged - USDJPY

US Open Note – Stocks near highs and dollar flickers green on hawkish Fed rhetoric

Posted on June 29, 2021 at 1:52 pm GMT

Markets prepare to digest Lagarde’s speech and US consumer confidence data After Friday’s weaker than expected PCE inflation, and expected tapering talk over the summer, not to mention yesterday’s confident tone from Fed officials around their inflation goal, the main focus will turn to Friday’s payrolls report for clues in the labour sector. 10-year yields are at 1.48% and the dollar index is prodding above the 92.00 mark as the greenback’s reach is being felt across the forex arena, subduing [..]

Daily Market Comment – Stocks struggle as Delta variant wreaks havoc, dollar and yen edge up

Posted on June 29, 2021 at 9:03 am GMT

Wall Street notches up another record but Asia falters amid worrying spread of Delta variant Dampened mood and US Covid resilience lift dollar, yen up too Euro stutters as ECB divisions laid bare; pound slips as investors unimpressed by UK’s ‘Freedom Day’ Mixed start for equities as Delta outbreak hits nerves Asian stocks came under pressure for a second day on Tuesday as the rapid spread of the Delta variant of Covid-19 hit growth expectations for the region. Low vaccination [..]

Technical Analysis – USDJPY redirects up as buying interest intensifies

Posted on June 28, 2021 at 1:01 pm GMT

USDJPY is tackling the 1-year rally high of 110.96, encapsulated in the resistance section of 110.87-111.11, attempting to reinstate upside momentum beyond the latter, which happens to be the fresh near 15-month peak. The bullish simple moving averages (SMAs) have recently been defending advances above the 109.00 level, with the 50-period SMA reinforcing the pair’s latest foothold in the vicinity of the lower Bollinger band around 110.57. The short-term oscillators are reflecting the surge in positive impetus, suggesting that the [..]

US Open Note – Markets are calm ahead of data exposure later this week

Posted on June 28, 2021 at 12:41 pm GMT

Dollar flirts with 111 yen; euro retreats near $1.19 as greenback gains ground It’s been a quiet start to the week as the greenback is trying to improve its long-term structure with all the attention turning on the NFP report on Friday. The dollar is heading north just below 111.00 versus the Japanese yen, while the dollar index is finding a restrictive support at the 20-day simple moving average (SMA) near 91.50. The euro is holding near $1.19 for the fourth day in a row but [..]

Daily Market Comment – Quiet start to a busy week for global markets

Posted on June 28, 2021 at 8:56 am GMT

Most currency pairs confined to tight ranges, stocks set for new records Sterling opens a touch higher as Britain gets a new health minister Big week ahead, featuring an OPEC meeting and a US employment report Wall Street set for more gains but currencies quiet Global markets are quiet on Monday, with news flow being rather light and movements subdued across most asset classes, as traders keep some powder dry ahead of crucial events later in the week. Dollar pairs [..]

Week Ahead – Dollar’s fortunes hang on nonfarm payrolls

Posted on June 25, 2021 at 1:58 pm GMT

With the Fed’s bombshell still resonating in the markets, all eyes will be on the next edition of nonfarm payrolls. It could single-handedly determine whether investors spend the summer positioning for a withdrawal of cheap money, or whether all that is premature. In the big picture, we seem headed for a period of ECB/Fed divergence, which could ultimately spill over into euro/dollar. Fed throws a curveball The Fed caught markets sleeping last week, unleashing all sorts of havoc after it [..]

US Open Note – Dollar tumbles after PCE data

Posted on June 25, 2021 at 1:07 pm GMT

Dollar moves south as US futures hold steady Markets drove the dollar even lower after the release of the PCE price index on Friday. During the last couple of days, the dollar index has remained steady just below 92.00. The greenback is falling after the jump above the 111.00 psychological level versus the Japanese yen. US futures are currently trading in green on Friday. The core PCE, the Fed’s preferred inflation indicator rose by 3.4% y/y, up from 3.1% in the previous month and was in line with expectations. It is the highest reading [..]

Daily Market Comment – Wall Street parties after ‘skinny’ infrastructure deal

Posted on June 25, 2021 at 8:39 am GMT

Stock markets hit new all-time highs after bipartisan infrastructure bill Dollar quiet, looks to more Fed speakers and US inflation data today Sterling retreats after BoE steers clear of any tightening signals Infrastructure deal propels equities higher A sense of euphoria swept through equity markets on Thursday, after the US president announced that he has secured a deal on infrastructure spending with a group of Republican and Democratic senators. The price tag will be around $1 trillion over five years, [..]

Daily Market Comment – Bank of England meeting in the spotlight

Posted on June 24, 2021 at 8:24 am GMT

BoE unlikely to shake markets today, minor upside risks for sterling Dollar back in the ring as Fed lets the hawks out Stocks elevated, another heavy dose of Fed-speak coming up BoE set to maintain optimistic tone All eyes will be on the Bank of England today. This is one of the smaller meetings without a press conference or updated economic forecasts, so any seismic policy signals are unlikely. Still, there is a risk that the BoE upgrades its language [..]

US Open Note – Dollar unlocks new yearly high versus yen; oil posts new high

Posted on June 23, 2021 at 12:53 pm GMT

Dollar/yen flies above 111.00; US futures in red As markets wait for US Markit preliminary readings at 13:45 GMT, the dollar is edging higher. After two red days, the dollar index is practically unchanged below 92.00. The US dollar continues to rise versus the Japanese yen, creating new highs for the year, jumping above 111.00. Following Powell’s remarks, stocks rallied; however, US futures are currently trading flat on Wednesday. The single currency is heading above $1.19 but is still stuck [..]

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