All Articles Tagged - USDJPY

Daily Market Comment – Wall Street conquers new highs, yen struggles

Posted on June 15, 2021 at 8:45 am GMT

· Tech generals lead stock markets to new all-time highs · Yen suffers as global yields bounce back, dollar quiet · Overall, bonds and stocks send conflicting signals about FOMC Tech stocks back in vogue The party in equity markets continues to rage. The Nasdaq and S&P 500 both hit fresh record highs to kick off the new week, with heavyweight tech names being at the tip of the spear. The price action suggests investors are not particularly worried about [..]

Technical Analysis – USDJPY looks set to gain extra ground above Ichimoku cloud

Posted on June 14, 2021 at 2:17 pm GMT

USDJPY continues to exhibit a short-term neutral-to-bullish tone with buyers now pushing past the 109.84 immediate barrier. The 100- and 200-period simple moving averages (SMAs) are endorsing upside price action, while the 50-period SMA and the Ichimoku lines are not signalling any strong direction but may provide near-term footing to buyers. The technical oscillators are suggesting positive momentum is powering up. The MACD is improving above its red trigger and zero lines, while the rising RSI is growing in bullish [..]

Weekly Comment – Fed to avoid taper discussion for now

Posted on June 11, 2021 at 1:16 pm GMT

Volatility in forex markets remained suppressed and the USD pinned down, even as data revealed US inflation hit 5% last month. Stock markets powered to new record highs, with investors concluding that high inflation will not automatically force the Fed to take its foot off the accelerator. This puts even more emphasis on next week’s Fed meeting. Upcoming highlights: · The Federal Reserve concludes its meeting on Wednesday. Despite inflation running hot, the labor market hasn’t healed properly, so a [..]

Week Ahead – Fed to steer away from taper signals

Posted on June 11, 2021 at 10:33 am GMT

It’s a busy summer week, with three central bank meetings and a ton of crucial data. The spotlight will be on the Fed, which is unlikely to signal that it’s considering an exit strategy from cheap money. That’s the ultimate path, but it’s too early. Any real dollar strength is a story for late summer. Meanwhile, policy meetings in Japan and Switzerland could confirm that those economies will be the last to raise rates again, leaving the yen and franc [..]

US Open Note – US CPI surprise driving dollar higher; Lagarde comments hurt euro

Posted on June 10, 2021 at 1:10 pm GMT

US CPI spike higher than expected Consumer prices in the United States were closely watched today for any clues about a tapering timeline. The headline CPI rose by 5% year-on-year for May, driving the dollar higher. This figure is the highest number since August 2008 amid low base effects from last year. The annual core CPI accelerated to 3.8% from 3.0% while the monthly rate ticked slightly down to 0.7% versus 0.9% previously. The Fed is anticipated to take baby steps towards slowing its bond purchases and the [..]

US Open Note – Dollar struggles ahead of key data; BoC awaited

Posted on June 9, 2021 at 12:56 pm GMT

Dollar waiting for tomorrow’s US CPI data The US dollar is weaker somewhat today, and Treasury yields were lower as traders wait for the US inflation announcement on Thursday as it may affect the timeline for Federal Reserve discussions on tapering bond purchases and may be a key catalyst for the bond market. Dollar/yen is continuing its selling interest, hovering near 109.37, while the US dollar index is experiencing some losses as well. S&P 500 and Nasdaq futures are signaling a positive open; however, Dow Jones futures are suggesting a negative open. Euro and pound take some positive steps The [..]

Technical Analysis – USDJPY recoils to 50-SMA but upside risks still in force

Posted on June 9, 2021 at 8:08 am GMT

USDJPY has formed a higher low around the mid-Bollinger band and the 50-day simple moving average (SMA), keeping the minor uptrend alive, which began from the 107.47 trough. The 100- and 200-day SMAs are backing improvements in the pair, while the short-term oscillators are signalling that positive sentiment may be picking up. The MACD, in the bullish region, is barely beneath its flattened red trigger line, while the RSI is trying to sustain its bounce off the 50 level. The [..]

US Open Note – Stocks laid back as dollar flickers some life despite dip in yields

Posted on June 8, 2021 at 2:41 pm GMT

Risk appetite vanishes; inflation and taper talk jitters persist Although the market outlook is largely optimistic, economies are emanating a lethargic vibe and seem to be searching for an assisting jolt to rekindle risk appetite. Investors may be looking aimlessly to the ECB and the Fed to provide markets with immediate booster jabs. Nonetheless, investors’ radars remain set around taper talks and price pressures and for sure the ECB’s and the Fed’s rhetoric around these issues will be cautious and [..]

US CPI to climb further but markets will probably hold their nerve – Forex News Preview

Posted on June 8, 2021 at 1:07 pm GMT

Consumer prices in the United States are expected to have risen by north of 4% for a second month in May. But after the mediocre jobs report, few think another jump in CPI would be a game changer for the Fed. The data, due on Thursday at 12:30 GMT, may therefore be greeted without much fanfare. However, a busy week for US Treasury auctions means there are other sources of volatility to worry about, hence, a muted response is far [..]

Daily Market Comment – Markets subdued as ECB, Fed, US spending and inflation outcomes awaited

Posted on June 8, 2021 at 9:03 am GMT

Traders are biding their time as ECB and Fed decisions loom along with US CPI data White House infrastructure talks also in focus as negotiations drag on Stocks hover near highs as dollar ticks up, but US yields slip again Dollar inches higher as ECB, Fed and inflation eyed Markets were mostly drifting sideways on Tuesday, awaiting fresh clues on stimulus plans in Europe and the United States as fears of central bank tapering and higher inflation continue to haunt [..]

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