All Articles Tagged - USDJPY

Daily Market Comment – Dollar recovers, stocks stand their ground despite rising yields

Posted on March 15, 2021 at 9:48 am GMT

Dollar gets its mojo back as US yields march higher, loonie climbs too US stock markets close at record highs, resilient to rising yields Quiet start to a busy week, featuring Fed, BoE, and BoJ meetings Can’t hold stock markets down The narrative that rising bond yields are toxic for stocks came under heavy fire lately. American stock markets hit new record heights last week even as longer-dated Treasury yields moved to new cycle highs, demonstrating that a higher cost [..]

Week Ahead – Will Fed & Co follow in ECB’s footsteps and signal QE shift?

Posted on March 12, 2021 at 1:56 pm GMT

The Federal Reserve will be meeting for the first time since yields exploded higher and the Biden stimulus bill became law. The Bank of England and Bank of Japan will announce their decisions too. Will the Fed and other central banks take their cues from the European Central Bank and respond to the bond market selloff by stepping up their purchases? The debate about whether higher yields warrant fresh policy action will likely dominate the market conversation, especially as there’s [..]

Daily Market Comment – Wall Street hits new records but euphoria fades as yields rise

Posted on March 12, 2021 at 9:42 am GMT

Threat of rising yields keeps animal spirits in check, revives dollar ECB promises to speed-up QE, but euro/dollar driven by other factors Yen suffers as rate differentials widen, Canadian jobs data coming up Stocks hit new records but cool down as yields climb The battle between growing economic optimism and concerns of monetary policy normalization continues to rage in financial markets. Investors are warming up to stocks amid hopes that all the federal spending will lead to an unprecedented boom [..]

Daily Market Comment – All eyes on ECB meeting as calmer tones prevail

Posted on March 11, 2021 at 9:15 am GMT

ECB unlikely to fight the spike in yields today, may boost euro a little Tame US inflation and solid bond auction calm yields, hurt dollar Dow Jones hits new record but tech lags as infrastructure comes into view Too early for ECB to fight rising yields? The main event today will be the European Central Bank policy decision at 12:45 GMT. The ECB views the latest spike in bond yields mostly as an American story that’s spilling over into Europe [..]

US Open Note – Markets in peace after US CPI figures meet forecasts; Treasury bond auctions in focus

Posted on March 10, 2021 at 2:11 pm GMT

German DAX 30 hits fresh record high The European session was mostly quiet, with the pan STOXX 600 claiming a small measure of gains as bond yields in the region continued to sideline below this week’s highs along with US Treasury yields. Yet, despite the softer positive tone, the German DAX 30 index managed to pin a new record high slightly above the 14,500 mark on the back of healthcare and real estate shares, which soared by 2.19% and 1.20% [..]

Technical Analysis – USDJPY remains below 109.00; extremely positive in short-term

Posted on March 10, 2021 at 8:25 am GMT

USDJPY decreased yesterday after the aggressive upside spike to a new nine-month high of 109.22. Currently, the price is still developing below the 109.00 psychological level, but the bias is bullish in the short-term timeframe. The 40-day simple moving average (SMA) is ready to post a bullish crossover with the 200-day SMA, suggesting more losses. Technically, the RSI indicator is holding in the overbought territory with weaker momentum than before, while the MACD is stretching its move above its trigger [..]

US CPI to throw light on inflation as reflation trade persists – Forex News Preview

Posted on March 9, 2021 at 4:44 pm GMT

US CPI figures for February will be front and center on Wednesday at 13:30 GMT amid fears the cocktail of massive monetary and fiscal stimulus and the reopening process from the lockdown could stoke inflation. The data are expected to endorse that narrative, likely adding more support under the dollar as the elevated Treasury yields indicate that Powell’s calm tone last week was not very convincing for investors. Powell’s reassurances at odds with inflation expectations Last week, and a few days [..]

US Open Note – Dollar, bond yields on the retreat; Nasdaq eyes strong rebound

Posted on March 9, 2021 at 2:05 pm GMT

Riskier assets gain on dollar weakness Tuesday brought some risk-on trading back on the surface as the cooling in US Treasury yields and the slowdown in the dollar allowed risk-sensitive currencies to heal. The dollar index could not reach the 200-day simple moving average (SMA) earlier in the day, peaking slightly lower at 92.50 before easing to 92.00. Despite the weakness in the Japanese yen, dollar/yen also pulled back to seek support near 108.80 after marking another higher high at [..]

US Open Note – Dollar bulls outperform as Wall Street prepares for another bumpy day

Posted on March 8, 2021 at 2:18 pm GMT

US futures could face another red day; European stocks recover Upbeat data releases continued to feed expectations of inflamed prices, and therefore an earlier monetary tightening on Monday, despite central banks using verbal intervention last week to play down any adjustment in their ultra-loose accommodative policy for the next couple of years. The US 10-year Treasury yield pared earlier losses on Monday to rise as high as 1.6130%, signaling that the downside pressure on Wall Street may stay in play [..]

Technical Analysis – USDJPY rises around 9-month high

Posted on March 8, 2021 at 10:46 am GMT

USDJPY has increased to a fresh nine-month high of 108.64 on Friday, endorsing the upside tendency. The simple moving averages (SMAs) are following the price action as well as the Ichimoku lines. The Relative Strength Index (RSI) is holding in the overbought territory, suggesting an overstretched market, while the stochastic oscillator is edging north towards the 80 level. Any advances above the multi-month high of 108.64 could take the market until the next crucial resistance around 109.85, taken from the [..]

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