All Articles Tagged - USDJPY

US Open Note – Dollar steady, US futures struggle and euro slips

Posted on March 19, 2021 at 1:29 pm GMT

Dollar in horizontal mode; euro below 1.19 A quiet day is on the cards, as reflected in forex and stock markets, with the US dollar moving slightly lower versus the Japanese yen below 109.00, while the dollar index is hovering above the 50- and 100-day simple moving averages (SMAs). Euro/dollar has slipped below the 1.1900 handle and is trying to break to the downside the nine-month ascending channel. Pound/dollar is moving with weak momentum while euro/pound is climbing above the [..]

Week Ahead – European PMIs to chart the euro’s course

Posted on March 19, 2021 at 12:51 pm GMT

It seems like a relatively calm week for global markets. The sole central bank meeting will be that of the Swiss National Bank, which will likely be thrilled about the recent demolition of the franc. There is also an overload of economic data on the agenda, the most important of which will be the PMI surveys out of the Eurozone. Fed stays cautious, but traders don’t buy it The FOMC meeting was a rollercoaster ride for markets. The Fed went [..]

Daily Market Comment – Nasdaq sinks as US yields spike, oil tumbles on demand worries

Posted on March 19, 2021 at 10:15 am GMT

Markets rattled by post-Fed jump in Treasury yields, though bond markets steadier today Dollar eases from highs, yen firms slightly on Bank of Japan’s policy tweaks Oil slumps to one-month lows on demand fears amid fresh European lockdowns Bond selloff gathers pace after Fed’s ‘green light’ Bond markets were left reeling on Friday following the selloff on Thursday in the aftermath of the Federal Reserve’s ‘lower for longer’ commitment. The yields on 10- and 30-year Treasury notes skyrocketed to fresh [..]

US Open Note – US futures slip, dollar edges up and pound eases after BoE decision

Posted on March 18, 2021 at 1:32 pm GMT

Dollar points up again; Pound eases after BoE decision Thursday brought some mild risk-on trading back on the surface after the release of the Bank of England (BoE) decision, which comes hot on the heels of the Fed’s dovish statement yesterday. The US dollar moved broadly higher as the euro/dollar fell to around 1.1925, below the 200-day SMA, while cable is declining slightly after the dovish Bank of England (BoE) decision to hold interest rates at a record low of 0.1%. Policymakers mentioned that UK GDP is anticipated recover during 2021 to achieve reach pre-coronavirus levels, [..]

Daily Market Comment – Dovish Fed lifts Wall Street, but can’t keep yields down

Posted on March 18, 2021 at 10:00 am GMT

Fed maintains dovish rate path despite upping growth and inflation forecasts Dow Jones and S&P 500 hit new records; Nasdaq rises too before futures slip Dollar falls but then rebounds as 10-year Treasury yields resume climb BoE decision up next, pound steady; yen see-saws on BoJ rumours Fed reiterates rate outlook, not worried about yields The Federal Reserve bumped up its growth and inflation projections in its latest meeting on Wednesday even as the majority of policymakers predicted that rates [..]

Could Bank of Japan hold its fire amid the yield boom? – Forex News Preview

Posted on March 17, 2021 at 11:08 am GMT

Policy announcements from the Bank of Japan (BoJ) have been mostly boring over the past five years in the sense that investors blindly trusted that Governor Kuroda would never lift his foot off the easy-money pedal until he finally meets his inflation targets. On Friday, the Bank is largely expected to keep the same course when it reveals the results of its policy review at a tentative time. But given the growing rumours that some relaxation could be applied in its yield curve control, [..]

Daily Market Comment – Bonds and dollar steady, stocks mixed ahead of Fed

Posted on March 17, 2021 at 9:42 am GMT

Fed decision awaited as 10-year Treasury yields hold above 1.60% Dollar flat, Wall Street futures slip as investors brace for Fed inaction EU’s vaccine shambles continue, euro battles to defend $1.19 level More jawboning expected as Fed to stay course Markets were in a calm mood on Wednesday, though sentiment erred on the side of caution as uncertainty around the FOMC decision kept investors on edge. The Federal Reserve is highly anticipated to hold rates and its stimulus programmes unchanged [..]

Technical Analysis – USDJPY’s climb pauses but compass aims northwards

Posted on March 17, 2021 at 9:05 am GMT

USDJPY appears to be stabilizing its footing on the red Tenkan-sen line, currently around 108.82, getting ready for a new thrust higher. The rising 50- and 100-day simple moving averages (SMAs) and the recent bullish crossover of the 200-day SMA by the 50-day one are together endorsing an extension of the price rally from the beginning of the year. The Ichimoku lines are reflecting robust positive sentiment as the red Tenkan-sen line is soaring above its blue Kijun-sen line. The [..]

US Open Note – Dollar freezes in calm day; Vaccine rollout gets delayed

Posted on March 16, 2021 at 1:59 pm GMT

Dollar holds firm; S&P 500 flies to record high The market today is calm as investors are all waiting on the Fed tomorrow to commit to any firm moves. The FOMC is starting a two-day meeting that will end tomorrow and no change in policy is predicted, but the forward guidance for interest rates and asset purchases will be crucial. Stock futures are almost flat today and the bond market is virtually unchanged, so this looks like a market waiting for guidance from the Fed. European stocks/equities/markets are [..]

Fed meeting: Keep a close eye on those dots – Forex News Preview

Posted on March 15, 2021 at 2:20 pm GMT

The Fed will conclude its latest meeting at 18:00 GMT Wednesday. Markets are pricing in a rate increase by late 2022, so all eyes will be on the ‘dot plot’ of rate projections to see if a hike in 2024 is still the central scenario for policymakers. With trillions in federal spending coming, some officials may bring forward their rate hike forecasts. This could lift the dollar initially, though Chairman Powell may push back on such expectations during his press [..]

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