All Articles Tagged - USDJPY

Daily Market Comment – Dollar shines after Senate approves relief bill, but stocks shaky

Posted on March 8, 2021 at 10:12 am GMT

Solid US jobs report and relief package approval propel dollar higher But stock markets still shaky as tech sector grapples with rising yields Overall, this looks like a healthy and mostly isolated correction Good news keeps on coming Global markets continue to dance to the tune of rising bond yields, as a swift vaccination campaign and the overload of federal spending that is arriving soon have seen investors bring forward the timeline of Fed rate increases. The US labor market [..]

US Open Note – Dollar pushes up after strong NFP report

Posted on March 5, 2021 at 2:03 pm GMT

NFP report drives dollar even higher It’s NFP day and markets just got an update on the speed and direction of the country’s labor-market recovery. The US economy added 379k jobs compared to market expectation of a 182k rise and 49k before, while the unemployment rate fell to 6.2% from 6.3% in the preceding month, amid easing business restrictions, falling coronavirus infection rates, a fast vaccine rollout and continued support from the government. Markets are still focusing on the imminent $1.9trln of stimulus package and an ultra-dovish Fed. The spike [..]

Daily Market Comment – Dollar surges, stocks sink after Powell lets yields run loose

Posted on March 5, 2021 at 10:05 am GMT

Powell gives no hints about possible action to stem selloff in Treasuries Dollar soars to 3-month high, shares on Wall Street tank for third straight day OPEC+ extends output cuts in surprise move, oil scales early 2020 highs Treasury yields resume rally after Powell stays course Investors hoping for fresh clues from the Fed about how it plans to ride through the storm in bond markets were left disappointed on Thursday after Chair Jerome Powell offered no new insight. Speaking [..]

Fed’s silence on rising yields could reawaken the dollar – Special Report

Posted on March 4, 2021 at 12:03 pm GMT

Some central banks like the ECB hit the panic button when bond yields went berserk lately, but some others such as the Fed and the Bank of England appeared rather comfortable with the moves. If this divergence persists, rate differentials between these economies could widen further, spilling over into the FX arena. In this case, the euro and the yen might be in trouble, while the dollar and the pound could shine. ECB ready to fight? The global spike in [..]

Daily Market Comment – Yields creep up ahead of Powell; stocks slip, dollar firms

Posted on March 4, 2021 at 9:35 am GMT

Fragile risk sentiment as yields rise again, sending shares on Wall Street skidding Powell speech in focus as bond volatility sparks speculation of ‘Operation Twist’ Commodity currencies fend off stronger dollar but euro and pound struggle Rising yields causing headache for the Fed The rout in bond markets is far from over as the selloff that had subsided somewhat earlier in the week accelerated again on Wednesday, pushing global yields higher. The US 10-year yield came within a whisker of [..]

Technical Analysis – USDJPY extends bull run, but caution warranted in near term

Posted on March 4, 2021 at 8:36 am GMT

USDJPY seems primed to stretch its newly bullish trend further into the 107.00 area, having already retraced half of its 2020 bearish run. With the RSI and the fast Stochastics fluctuating within the overbought territory, and the price flirting with the channel’s topline near 9-month highs, profit-taking actions are increasingly possible in the short term. The 50% Fibonacci of the previous downtrend is also challenging the price near 107.14, and should it hold firm, the pair may weaken to seek [..]

US jobs likely bounced back in February; can a strong NFP fire up bond yields? – Forex News Preview

Posted on March 3, 2021 at 3:54 pm GMT

After a sluggish couple of months, America’s labour market is expected to have regained some momentum in February. The latest nonfarm payrolls report will probably reveal a healthy pickup in jobs growth when released on Friday at 13:30 GMT. However, following the recent rout in the bond market, an upbeat set of numbers runs the risk of refuelling the rally in Treasury yields, pushing the dollar higher and piling pressure on the Federal Reserve to step in. A patchy rebound [..]

US Open Note – Markets in risk-on tone; Dollar still flies

Posted on March 3, 2021 at 2:05 pm GMT

Stocks and dollar in slightly positive tone; Fed announces Beige Book The market seems to be calmer today. European equities are holding onto gains, while US futures indicate a positive open. The US dollar index jumped to a one-month high of 91.39 yesterday, before retreating around 91.00. Dollar/yen continues the upside rally towards a fresh six-month high above 107.00. Stimulus negotiations are likely to go into overdrive this week as President Joe Biden’s $1.9 trillion Covid-19 relief bill goes to the US Senate. Also, the Fed announces its Beige Book report. Since [..]

Daily Market Comment – Dollar snaps gains as Fed doubles down on easy policy

Posted on March 3, 2021 at 10:00 am GMT

Dollar suffers sharp pullback as yields settle lower, Fed hints at unease about surge Economic optimism, bond market calm drive stocks, US futures higher Pound hoping for budget boost as $1.40 becomes elusive, euro tests $1.21 Bond market rout eases further, with a little help from the Fed The panic that roiled bond markets last week continued to recede on Wednesday as central bankers from Europe, Australia and elsewhere warned against sudden spikes in bond yields, which have had a [..]

US Open Note – Dollar’s fight back continues as bond market remains in focus

Posted on March 2, 2021 at 2:14 pm GMT

Wall Street could start the day in red; bond market in focus The futures tracking the S&P 500 and Nasdaq 100 are signaling a negative open today after their biggest advance in almost nine months, as investors cautiously monitored the bond market and progress on the next round of fiscal stimulus. Wall Street surged on Monday as bond markets calmed, while developments on Covid-19 vaccines and fiscal stimulus bolstered expectations of a swift economic recovery. The dollar gained on the back of the reflation trade. Dollar/yen [..]

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