All Articles Tagged - USDJPY

US Open Note – Dollar lacks direction amid market calm; US stocks freeze

Posted on April 12, 2021 at 1:00 pm GMT

Dollar flattens in absence of data today; pound rises A calm day is on the table as dollar/yen is stable around 109.35 and the US dollar index is moving horizontally and marginally below the 200-day simple moving average (SMA) as the US data in the next days may drive the greenback even higher. The US Congress is starting to work on the infrastructure package with President Biden meeting centrist lawmakers from both parties. It is noteworthy that the US fiscal stimulus will be [..]

Daily Market Comment – Firm start for dollar after upbeat Powell; stocks cautious ahead of earnings

Posted on April 12, 2021 at 9:13 am GMT

Dollar edges up after uptick in US producer prices and a more positive Powell But yields ease slightly ahead of huge Treasury auctions Equities weighed by earnings caution and fears of China policy tightening Dollar tries to put bad week behind it It was a relatively calm start to the week in FX markets, but the momentum seems to be clearly behind the US dollar following a jump in US producer prices on Friday as well as Fed Chair Powell [..]

Daily Market Comment – US equities continue to rampage as Powell reassures

Posted on April 9, 2021 at 8:32 am GMT

Dollar headed for losing week as Fed rate hike bets cool Stock market party continues to rage, gold attempts comeback ECB minutes cheer up the euro, sterling loses its shine ‘Opposite week’ in currencies It’s been an eventful week for currency markets, with the trends that dominated earlier in the year going into reverse. In the first quarter, investors became confident the Fed would raise interest rates by next year already thanks to a rosier economic outlook, resulting in a [..]

US Open Note – Dollar drives on a slippery road as euro fights key resistance

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

Risk-on weighs on dollar Reduced appetite for safety kept the dollar pinned on the downside during the European trading hours as the FOMC meeting minutes reiterated late on Wednesday what markets already know about the progressive recovery in the US economy and the Fed’s commitment to keeping policy super accommodative until it sees sustainable growth. As usual, the minutes also highlighted that any upside inflation pressures this year will likely be transitory and interest rates will not rise before 2024. [..]

Daily Market Comment – Dollar extends retreat ahead of Fed minutes

Posted on April 7, 2021 at 8:36 am GMT

Dollar and pound give back ground as bond yields cool down Euro and yen enjoy a relief rally – can it last? Stocks trade quietly, oil shaky, FOMC minutes in sight Dollar and sterling hit by falling yields The new quarter has turned the tables in the currency market, as the rally in bond yields that turbocharged the dollar along with sterling last quarter seems to have run out of fuel for now, breathing some life back into the devastated [..]

Technical Analysis – USDJPY’s bullish pattern stands tall despite retraction

Posted on April 7, 2021 at 8:17 am GMT

USDJPY buyers have emerged within the 109.66-109.84 zone (previous resistance-now-support) to contest the price pullback off a 1-year high of 110.96. The soaring 50- and 100-day simple moving averages (SMAs) are defending the near three-month rally off the 102.58 level, while a near completion of a bullish crossover of the 200-day SMA could further boost this outlook. The advancing Ichimoku lines suggest that positive sentiment remains potent, opposing the minor price correction, while the short-term oscillators are reflecting mixed signals [..]

US Open Note – European stocks in cheerful mode; dollar is still the king despite pullback

Posted on April 6, 2021 at 1:15 pm GMT

European indices hit record highs, but economic outlook still bleak The European equities had a pleasant start after a long weekend on Tuesday, rushing to catch up with the rally in US rivals, sending the STOXX 600 and the German DAX 30 to fresh record highs early on Tuesday. The stock rally emerged after a barrage of US data provided evidence that the recovery in the biggest economy of the world is picking up steam, while news that some Democrats favor [..]

Daily Market Comment – Stocks fly to new records after ISM data, but dollar suffers

Posted on April 6, 2021 at 8:48 am GMT

US equities take to the skies amid stellar data and tax doubts Dollar drops as euphoric mood diminishes safe-haven demand Euro and yen capitalize on dollar’s setback, but for how long? Promising data and tax doubts power up equities There’s no stopping the stock market freight train. Euphoria took over financial markets on Monday after another stellar batch of US economic data, propelling the S&P 500 to new record highs. The catalyst was the ISM non-manufacturing survey, which hit an [..]

US Open Note – Dollar’s bullish trend is your friend; pound at 2-week highs

Posted on April 5, 2021 at 1:07 pm GMT

Dollar’s bullish run could see more extensions Stock and bond trading will resume at normal hours today in the US, as European traders will remain out of the office to celebrate Easter Monday. Following the stellar NFP release on Friday, the ISM non-Manufacturing PMI for March will probably extend its upward trajectory comfortably within the expansion area at 14:00 GMT, backing the progress outlined by the Markit PMI readings, which will also see their final revision a few minutes before [..]

Daily Market Comment – Dollar smiles after stellar jobs report, RBA in focus

Posted on April 5, 2021 at 8:55 am GMT

Dollar and equities cruise higher after encouraging US employment data Elevated yields continue to keep euro and yen under pressure RBA policy decision and ISM services survey coming up Good times in the United States The aftershocks of the stellar US employment report are still reverberating across global markets on Monday, as most of Europe and several Asian trading hubs remain closed for holidays. The US economy added an impressive 916k jobs in March, far more than the projected 660k, [..]

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