All Articles Tagged - USDJPY

US Open Note – Safe havens give ground to commodity currencies

Posted on March 26, 2021 at 1:23 pm GMT

Yen the worst performer, antipodeans on the rise Friday has been a risk-on day ahead of the US open, with safe-haven currencies falling and stocks rising as Biden’s doubling of the vaccination rollout target and the Fed’s decision to lift restrictions on dividends and buybacks for most banks on June 30 brightened the outlook for the global economy. The European stock indices followed their Asian counterparts higher, though their ascent was less cheerful, driven mainly by energy and basic materials. [..]

Week Ahead – US jobs report to headline quiet Easter week

Posted on March 26, 2021 at 12:33 pm GMT

As markets reassess how soon European economies will be able to reopen, the March nonfarm payrolls report out of the United States will likely highlight the widening growth disparity between the two regions. The expected strong US data could help maintain the dollar’s upward drive but ultimately, its path will be determined by whether or not risk appetite bounces back. Risk sentiment has been fragile of late as an increasingly bitter spat between the UK and EU over vaccine exports [..]

Daily Market Comment – Equities bounce back, dollar holds firm, euro steadier

Posted on March 26, 2021 at 10:14 am GMT

Mood brightens after Wall Street posts late rebound but risks from quarter-end flows Dollar slightly off highs, euro barely recovers as EU leaders clash over vaccines Aussie and kiwi lead gainers, oil jumps again as Suez Canal blockage could last weeks Stocks head higher as traders focus on US recovery World stocks look set to end a turbulent week on a more positive note after upbeat news on the US economy fuelled a late rally on Wall Street on Thursday. [..]

Daily Market Comment – Dollar stands tall as lockdown worries hang over markets

Posted on March 25, 2021 at 10:11 am GMT

Dollar inches up to fresh highs but yen steps back as US stock futures steadier Euro and pound try to put a floor under losses after EU and UK pledge vaccine cooperation Oil prices see-saw on Suez Canal blockage, European lockdown woes Dollar extends gains amid ongoing lockdown misery The dented growth outlook in Europe continued to weigh on markets on Thursday as the latest announcements of virus curbs from the continent have dashed hopes of a speedy recovery in [..]

US Open Note – European markets falter; US flash Markit PMIs & Powell’s testimony ahead

Posted on March 24, 2021 at 1:25 pm GMT

Frustration with AstraZeneca continues Wednesday’s European session was not very productive for stocks and currencies, with the euro and the pound remaining negatively charged against the dollar despite the upbeat flash Markit PMI readings for March. The blames go to the troubling vaccination program in the Eurozone, which turned even uglier after AstraZeneca’s injections were blamed for causing blood clots in several countries. Although the EU lifted its suspension of the vaccine, frustration with AstraZeneca did not cease as Brussels [..]

Technical Analysis – USDJPY attempts to avoid sharp decline below 108.30

Posted on March 24, 2021 at 7:08 am GMT

USDJPY’s rally faltered around 109.35, with the price reversing lower to seek support near the 20-day simple moving average (SMA) and the upper boundary of the broken bullish channel at 108.44. The momentum indicators warrant some caution as the RSI has peaked in the overbought area and is drifting towards its 50 neutral level, while the MACD is decelerating below its red signal line. Sellers may wait for a decisive close inside the channel and particularly below the 20-day SMA [..]

Daily Market Comment – European lockdowns weigh on stocks, lift dollar; Powell testimony eyed

Posted on March 23, 2021 at 9:59 am GMT

New lockdowns in Europe dampen risk sentiment, bolster dollar and yen Stocks slip back but rumours of massive US infrastructure package lend support Kiwi slumps on steps to cool house prices, oil tumbles too, euro and pound muted Dollar up amid fresh lockdown worries Renewed fears about extended lockdowns in Europe are undermining risk assets again as a summer reopening of the continent’s economy is looking increasingly unlikely. Germany became the latest country today to delay a planned easing of [..]

US Open Note – Turkish lira’s shock waves under control; stocks mildly up

Posted on March 22, 2021 at 1:26 pm GMT

European banks follow Turkish lira lower, but losses under control While the inflation fear factor holds intact in key developed economies even though price indices remain anemic, high inflation has been a truly tragic story in Turkey for a while, forcing the central bank to raise interest rates by two percentage points and more than expected on Friday. Such surprising decisions from emerging markets rarely create any global shock waves, though when President Erdogan, who is a strong opponent to [..]

Technical Analysis – USDJPY’s rally creeps sideways; sellers eye key support

Posted on March 22, 2021 at 10:03 am GMT

USDJPY has edged beneath the waning 50-period simple moving average (SMA) at 109.00 and into the Ichimoku cloud, after the impressive rally from 104.91 struggled to extend past the 109.20-109.37 resistance region. The directionless Ichimoku lines are promoting the minor consolidation, while the SMAs are endorsing a positive price structure. The short-term oscillators are transmitting conflicting signals in directional momentum. The MACD, barely below its red trigger line and the zero mark, is falling, while the downward pointing RSI is [..]

Daily Market Comment – Lira crashes after Erdogan sacks CB chief; yen climbs, stocks struggle

Posted on March 22, 2021 at 9:41 am GMT

Turkish lira plummets by 13% after Turkey’s president fires hawkish central bank head Surprise move causes jitters in financial markets, boosts safe havens like yen and dollar Aussie leads the losers, euro and pound slip too amid growing UK-EU vaccine row Lira plunges to 4-month low amid fresh crisis Turkish President Recep Tayyip Erdogan responded to last week’s bigger-than-expected rate hike by the country’s central bank by ousting its governor, Naci Agbal, in a shock move late on Friday. The [..]

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