All Articles Tagged - USDJPY

US Open Note – Dollar continue to rise after core PCE price data

Posted on May 28, 2021 at 1:07 pm GMT

Core PCE data boost dollar The spotlight of the day is the release of the US core PCE price data. The figure for April rose to 3.1% y/y from 2.9% that was the expectation and 1.8% in March. This is the highest since August 1992 and above the Fed’s 2% target for the first time since 2018. PCE is the Fed’s preferred measure of inflation so traders watch it closely. Personal income increased to -13.1% from -20.9% previously, while personal [..]

US Open Note – Stocks largely silent, dollar stumbles and yields provide no support

Posted on May 27, 2021 at 1:45 pm GMT

Stocks hint risk absence, dollar loses confidence, GDP and jobless claims draw focus The mood in markets seems to be subdued with major US indices remaining largely unchanged after today’s US GDP and weekly unemployment claims. The dollar seems to be playing defence as the 10-year yield dips to 1.53%. The dollar index is consolidating around the 90.00 mark. The pound has performed well, pivoting around $1.4100 and building strong traction on the dollar’s slight setback. The euro recouped earlier [..]

US Open Note – Kiwi shines after RBNZ’s hawkish stance; Dollar remains below 109 yen

Posted on May 26, 2021 at 1:00 pm GMT

RBNZ less dovish message drives kiwi up Kiwi is the best performing currency today versus the US dollar, surpassing the 0.7300 handle and recording a fresh three-month high. The Reserve Bank of New Zealand (RBNZ) projected a rate hike by September 2022, taking the economy closer to an exit from the pandemic situation. The bank signalled a less dovish message in May, while leaving monetary policy steady, as it revised up its forecasts for inflation higher but lowered them for unemployment. In other commodity [..]

Technical Analysis – USDJPY hints at more weakness below trendline

Posted on May 26, 2021 at 6:38 am GMT

USDJPY has been in a tight range underneath the 109.00 level this week, facing resistance near its shorter-term simple moving averages and support around the blue Kijun-sen line at 108.60. The sideways move has positioned the price marginally below the tough ascending trendline, flagging more weakness in the near term. The momentum indicators are discouraging as well, with the RSI hovering slightly below its 50 neutral mark, the Stochastics sailing southwards, and the MACD preparing to enter the negative zone. A [..]

US core PCE expected to jump; can the Fed turn a blind eye? – Forex News Preview

Posted on May 25, 2021 at 3:02 pm GMT

So far, the surge in US consumer prices has not rattled policymakers at the Fed but an expected jump in PCE inflation – a more closely watched gauge – could reawaken the hawks. The core PCE price index is out on Friday (12:30 GMT), which will be accompanied and preceded by a number of other key indicators, including personal consumption and durable goods orders. The US dollar’s slide doesn’t appear to be anywhere near over as Treasury yields remain in [..]

US Open Note – Stocks improve, dollar on back foot as yields dip again

Posted on May 25, 2021 at 1:49 pm GMT

Stocks creep up as dollar heads toward 5-month lows; Fed echoes no alarm Markets seem to be emanating a slight improvement in risk sentiment as major US indices are extending yesterday’s rally at a somewhat slower pace. The fresh dip in the US 10-year yield, currently at 1.58%, is not providing any assistance for the dollar to regain some of its market dominance. As rates are not going anywhere soon as the inflation narrative continues to be downplayed, the dollar [..]

US Open Note – Dollar mixed in the absence of data

Posted on May 24, 2021 at 12:47 pm GMT

Dollar waits for PCE inflation; euro jumps above $1.22 This week is a quiet period in terms of data as the US core PCE on Friday will be in the spotlight. The US dollar posted some marginal gains in the beginning of this session, but lost steam after finding strong resistance near the 109.00 round number versus the Japanese yen. The lack of major releases is not helping the greenback to turn up until there are more strong US data and Treasury yields stop their decline. The US [..]

US Open Note – Stocks, currencies in quiet trading as taper concerns take the back seat for now

Posted on May 21, 2021 at 1:09 pm GMT

European stocks could gather interest What is striking about economic data is that the stronger they become around multi-year highs, the smaller the need for stimulus, and consequently investors are less encouraged to drive stocks higher. But this narrative likely fits the US landscape better, where stock indices are more skewed towards expensive tech and other growth companies. In Europe, stocks continue to trade in a discount relative to their US counterparts, with the STOXX 600 index trading 16.7x forward earnings versus 21x for the S&P 500 according to Refinitiv estimates – despite the gap narrowing a [..]

US Open Note – Dollar flatlines after FOMC meeting minutes; equities mixed

Posted on May 20, 2021 at 1:16 pm GMT

Markets in no man’s land after FOMC meeting minutes Markets seem to be in no man’s land today. On the one hand, the reopening phase in developed countries and accommodative fiscal and monetary policies point to a bright future for the global economy. On the other hand, the patience among central banks against rising fears of above-target inflation threatens a delayed response and a bumpy economic recovery. Surprisingly, the FOMC minutes from April’s meeting attempted to shed some light on [..]

Daily Market Comment – Fed hints at taper discussion soon but dollar struggles to catch a bid

Posted on May 20, 2021 at 9:11 am GMT

Fed minutes drop first hint of starting to ‘think about thinking about’ tapering US dollar and yields jump, but not much, before easing slightly Wall Street dips but pares losses, equity markets mixed today Not so relaxed about inflation after all? The minutes of the Federal Reserve’s April policy meeting dropped the first taper bombshell on Wednesday as some policymakers raised the prospect of beginning discussions on reducing bond purchases soon. According to the minutes, some participants thought “it might [..]

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