All Articles Tagged - USDJPY

US Open Note – Stocks in the red as inflation debate continues; dollar recoups some ground

Posted on May 19, 2021 at 1:19 pm GMT

Fed meeting minutes eyed as inflation jitters resurface Inflation jitters and the latest infection pickups in Asia offset growth optimism in markets on Wednesday and revived fears that the Fed could start its tapering process and subsequently raise interest rates sooner than expected although the central bank has talked down the case several times, arguing that any spike in inflation will be temporary. Perhaps the Fed may once again put its assurances into words when it releases its minutes from [..]

Technical Analysis – USDJPY directs lower but positive tone endures

Posted on May 19, 2021 at 8:34 am GMT

USDJPY is gaining some traction off the mid-Bollinger band at 108.87, near a supportive trend line drawn from the 102.58 low. The fresh deflection in the price off the upper Bollinger band may have recently curbed additional developments past the 110.00 border; however, sellers seem to currently lack the necessary backing to shift sentiment to the downside. Although the short-term oscillators are slightly favouring price advances, they are presently transmitting conflicting signals in directional momentum. The MACD is holding a [..]

US Open Note – Stocks pick up, dollar hurt and gold retains bullish tone

Posted on May 18, 2021 at 1:15 pm GMT

Stocks recoup yesterday’s lost ground as dollar loses dominance US major indices are largely holding around yesterday’s highs after having reclaimed surrendered ground, emanating a slight pickup in risk appetite. That said the damage in the greenback is being felt across the board. The dollar index plunged below the 90.0 mark and has managed to stabilize around 89.70. The Fed’s dovish stance seems to be weighing on the greenback and sentiment appears to be subdued. Steady yields are not discouraging [..]

FOMC minutes: avoiding the “T” word – Forex News Preview

Posted on May 18, 2021 at 6:23 am GMT

The minutes of the Federal Reserve’s April 27-28 policy meeting are due on Wednesday (18:00 GMT) but investors are not holding their breath for any taper signals. The Fed has not moved an inch with its policy stance this year even as the consumer price index has skyrocketed to more than a decade high. Policymakers will likely again talk down the threat of higher inflation becoming permanent in the minutes and repeat that they don’t see a need to change [..]

US Open Note – Virus spikes favor safe havens; US equity futures point lower

Posted on May 17, 2021 at 1:12 pm GMT

Stocks tumble as Covid outlook gets cloudy again Markets traded with mixed feelings during the European session as Covid success countries such as Taiwan, Singapore, and Hong Kong reported the highest number of daily infections since the start of the pandemic, forcing the resumption of fresh social distancing measures and the closure of schools, cafes and bars. On the other side of the planet, European economies were moving forward with their reopening plans, with the UK lifting its international travel [..]

Technical Analysis – USDJPY meets 200-period SMA; 109.00 still holds

Posted on May 17, 2021 at 7:02 am GMT

USDJPY is retreating after it topped at the 109.78 resistance level. The price is finding support at the 200-period simple moving average (SMA). The RSI seems to be in a declining mode, however, the stochastic oscillator is posting a bullish crossover within the %K and %D lines in the four-hour chart. If there are any dives beneath the SMAs, the lower surface of the Ichimoku cloud could halt bearish movements at 108.75 before tumbling to the 108.35 support level. Even lower, the one-month [..]

US Open Note – US retail sales disappoint with minor impact on greenback

Posted on May 14, 2021 at 12:57 pm GMT

US retail sales dive below expectations The highlight of the day is the US retail sales, which were flat month-on-month in April, worse than the 1% increase that was expected versus an upwardly revised 10.7% surge in March. The US dollar index is retreating for the second consecutive day with weak momentum and unable to surpass the 91.00 mark. Dollar/yen is trading soft but above the 109.00 psychological level. The dollar could gain on a rise in US yields, while the slow recovery in the employment market may turn consumption [..]

Japan’s recovery likely went into reverse in Q1 as poor vaccine rollout clouds outlook – Forex News Preview

Posted on May 14, 2021 at 11:49 am GMT

Japan will publish its GDP estimate for the first quarter on Tuesday (Monday, 23:50 GMT) and the data is expected to confirm that the recovery went into reverse after a strong rebound in the second half of 2020. The government is battling to contain a fourth wave of the coronavirus just weeks before Tokyo is set to host the 2020 Olympic Games. However, the extended states of emergency risk pushing the economy into a double-dip recession, with the frustratingly slow [..]

US Open Note – Dollar rally stalls despite strong jobless claims and PPI

Posted on May 13, 2021 at 1:10 pm GMT

Jobless claims fall again but dollar slips The producer price index and initial jobless claims out of the United States are in the spotlight today after last week’s disappointing jobs report and the surprise jump in inflation yesterday. US initial jobless claims declined to 473 thousand in the week ended May 7 versus 490K forecast after Wednesday’s inflation shock and the Federal Reserve was clear that the employment outlook will have to notably rise before there is a change in monetary policy. Annual inflation climbed to the [..]

US Open Note – Stocks stabilize with US inflation uncertainty, dollar flickers green

Posted on May 12, 2021 at 1:28 pm GMT

Market retraction pauses; US CPI shocks markets but effects fade Investors have been patiently awaiting hints from US inflation today on whether the stride of the recovery has somewhat slowed. The risk-off climate is not receiving any assistance from yields and it seems profit taking and inflation could be the premise for the latest risk-off environment. The pullback of the highs in the major US indices continues to denote the deterioration in near-term risk sentiment despite the release of [..]

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