All Articles Tagged - USDJPY

US Open Note – Dollar marks third cold week as euro shines; US PMIs next into focus

Posted on April 23, 2021 at 1:15 pm GMT

Another bad week for the dollar It’s been the third depressing week for the US dollar as investors had more to chew in Europe. The US economy is widely expected to grow at its fastest annual pace in decades this year as its successful vaccination program and the falling infection and death rates reduce the case for more lockdowns. But this is already old news, and as long as the Fed shows no willingness to step off the accelerator pedal, [..]

BoJ to lower inflation, raise growth projections; yen likely to be unmoved – Forex News Preview

Posted on April 23, 2021 at 1:00 pm GMT

The Bank of Japan (BoJ) announces the outcome of its April monetary policy meeting on Tuesday and will also publish its latest Outlook Report. Japan is facing a fourth wave of the coronavirus, threatening new state of emergencies being declared across the country. However, the economy has been recovering at a respectable pace, with the help of booming exports. But as far as the yen is concerned, the BoJ’s yield cap means the growth prospects of rival economies matter more [..]

Week Ahead – Fed to be a yawn but glowing US data could spoil the calm

Posted on April 23, 2021 at 12:46 pm GMT

Never have central bankers so seemingly sung from the same hymn sheet as Fed policymakers have in the past few weeks. Having successfully aligned market expectations, the Federal Reserve is almost certain to repeat the message that QE tapering is not on the near-term horizon when it meets next week. The Bank of Japan is also not expected to diverge from recent language when it announces its latest policy decision. Traders are therefore likely to turn their focus on the [..]

US Open Note – Euro steady after ECB; US jobless claims endorse economic recovery

Posted on April 22, 2021 at 1:27 pm GMT

ECB policy decision as expected The European Central Bank (ECB) met analysts’ expectations today, leaving its interest rates unchanged and its asset purchases steady, reaffirming its pledge to maintain a flexible approach as regards the PEPP program within the envelop of 1.85 trillion euros. The policy statement did not bring up anything new, leaving euro/dollar below the key resistance of 1.2070 – 1.2100 despite the recent rising upside pressures in the market. The global yield rally prompted the central bank [..]

A panoramic view of the US economy and dollar in 10 charts – Special Report

Posted on April 22, 2021 at 1:14 pm GMT

The pandemic inflicted a lot of damage on the US economy, but thankfully, the worst has passed. It turns out that when Congress and the Federal Reserve join forces to fight a crisis, the stimulus response is so overwhelming that it eclipses everything else. Take a look below for a bird’s-eye view of the US economy and the reserve currency in 10 charts. Vaccination program running like a well-oiled machine Businesses struggling to find workers again Consumers have been loading [..]

US Open Note – Asian Covid breakout pauses dollar bears; BoC policy decision ahead

Posted on April 21, 2021 at 1:04 pm GMT

Covid, geopolitics feed some risk off Alarming infection breakouts and new variants of Covid-19 in emerging economies threaten a déjà vu of the past in developed countries, or at least are warning of prolonged lockdown measures (see Japan) and a slow recovery from the pandemic despite the vaccination rollouts. Geopolitical conflicts in several corners of the world are adding to this complexity, forcing some investors to seek safety in the US dollar on Wednesday, though the demand for the currency [..]

Technical Analysis – USDJPY plummets for consecutive days around 108.00

Posted on April 21, 2021 at 7:11 am GMT

USDJPY is edging sharply lower, creating consecutive red days after the pullback from the 13-month high of 110.95. The price looks to be creating a bearish correction of the upward rally from 102.60. From the technical perspective, the RSI is retreating in the negative territory, while the MACD is weakening its momentum below its trigger line and near the zero level. The 20-day simple moving average (SMA) is turning lower, while the price is standing below the short-term SMAs. Immediate [..]

FX market remains prisoner to the vaccination race – Special Report

Posted on April 20, 2021 at 1:59 pm GMT

The dynamics in the FX market have changed this year. The speed of vaccinations has turned into the most powerful element driving currency moves, as investors recalibrate their expectations for economic growth and the timeline of central bank rate increases. Britain and America have done better than Europe and Japan so far, though Europe seems to be closing the gap. Overall, the prospects for the dollar seem bright, but the same cannot be said for the yen. How we got [..]

US Open Note – Stocks in the red, dollar barely heals, oil surrenders gains

Posted on April 20, 2021 at 1:31 pm GMT

Dollar nudges a tad higher with rising yields, major forex pairs capitalise Major stock markets eased off their recent highs while the dollar index managed to gather some footing around 90.82, prodding just above the 91.00 mark. The recovery narrative, with stimulus in the pipeline and rising yields – 10-year Treasuries advanced to 1.62% – seems to be very much alive, even though the Fed’s insistence that it won’t raise rates prematurely has cooled the dollar lately. Markets’ subdued demeanour [..]

Daily Market Comment – Battle for the dollar keeps raging, stocks fly

Posted on April 19, 2021 at 8:27 am GMT

· Forex market at a crossroads, dollar breaks crucial support zones · Stocks set new records as earnings season gets underway · Canadian budget in focus today, BoC and ECB meetings later this week Dollar reversal underway? The battle for the US dollar is unfolding in the FX arena, with the reserve currency having just broken crucial support regions across several charts. Euro/dollar has powered above the decisive $1.20 zone, while dollar/yen crossed swords with the 108.40 support barrier and [..]

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