All Articles Tagged - USDJPY

Daily Market Comment – Dollar holds firm after gains as stimulus eyed; Reddit frenzy eases

Posted on February 2, 2021 at 10:04 am GMT

Dollar approaches 2-month top as stimulus hopes push up yields, euro falters Stocks rise again as Wall Street rebounds, retail craze cools, silver plunges Aussie bounces back, shrugs off surprise QE boost by RBA A dollar comeback? The US dollar appears to be on the rise again, mirroring a similar upward drive in 10-year Treasury yields in recent days. Expectations that the United States is moving closer to another big stimulus package lifted the greenback to near 2-month highs against [..]

US Open Note – Dollar advances higher, euro dips

Posted on February 1, 2021 at 1:56 pm GMT

Next US relief bill still in focus; Dollar and silver surge One of the major highlights of the current week is the effort to pass the next relief bill in the US. Ten Republican Senators have drawn up a $600 billion alternative to President Biden’s $1.9 trillion proposal. The dollar index is 0.32% up today and dollar/yen has a noteworthy upside rally for the fourth day in a row, heading towards 105.00. US stocks reversed higher again while silver surged by 8.62% [..]

Daily Market Comment – Stock market rebound fizzles out, but FX remains calm

Posted on January 29, 2021 at 9:26 am GMT

Wall Street set to open in the red, erasing latest rebound Overall, nothing has changed, so risk aversion could fade soon Yen crumbles after BoJ signals, but broader FX market relatively calm Fear grips Wall Street again What a crazy week. An assault by small investors weaponizing call options against hedge fund short positions sparked all kinds of volatility and some legendary short squeezes in smaller stocks. The ripple effects were felt across markets as some funds were apparently massacred [..]

Dollar remains overvalued; can America’s twin deficits still sink it? – Special Report

Posted on January 28, 2021 at 2:28 pm GMT

The US dollar ended a volatile 2020 down 6.5% against a basket of currencies, underlining the dramatic turnaround in risk appetite from the depths of the March virus crisis. That risk rally is showing no sign of abating anytime soon, driving bearish bets against the dollar to near-decade highs. Nevertheless, the dollar’s negative outlook is becoming increasingly murky as the US economy is poised to outperform its peers in 2021. In view of this, can America’s soaring current account and [..]

Daily Market Comment – Markets sink despite Fed tranquilizer

Posted on January 28, 2021 at 9:25 am GMT

Stocks suffer, dollar shines amid whispers of hedge fund slaughter Fed plays down tapering speculation, but unable to calm nerves Euro on the ropes as ECB rate cut speculation returns US GDP data coming up today amid peculiar earnings season Short squeeze epidemic forces hedge fund liquidations The sound you are listening to is the stock market cracking from within, as a few funds liquidate their books to cover losses on their short bets, which retail traders have pushed to [..]

Technical Analysis – USDJPY struggles beneath long-term falling trend line

Posted on January 27, 2021 at 8:10 am GMT

USDJPY has found strong resistance at the falling trend line below the 104.00 psychological level, hovering around the 20- and 40-day simple moving averages (SMAs). According to the technical indicators, the RSI is edging sideways near the neutral threshold of 50, while the MACD is flattening near the trigger and zero lines. Both are lacking to show a clear direction on price. The short-run risk is looking neutral-to-bearish at the moment and another retest of the 102.60 support is [..]

Daily Market Comment – US stimulus delays cool sentiment

Posted on January 26, 2021 at 9:33 am GMT

Delays in Biden’s relief timeline keep animal spirits in check Euro/dollar retests key support region as Eurozone troubles grow Gold in a holding pattern, waiting for the next catalyst Have retail traders ‘broken’ the market’s plumbing? Volatility is back It’s been a hectic start to the new week. US stock markets took a sharp dive on Monday for no apparent reason, but quickly recouped those losses and still managed to close at record highs. It seems that an army of [..]

Technical Analysis – USDJPY holds near the upper surface of bearish channel

Posted on January 25, 2021 at 9:58 am GMT

USDJPY is falling further in the short-term and prices continue to drift lower from the 103.88 resistance, finding some support at the 20- and 40-period simple moving averages (SMAs). The short-term technical indicators are pointing to more weakness in the market. The MACD and the RSI are flattening near the zero level and the 50 line respectively. The next target to the downside is the 103.55 support. At this stage the market would likely see a resumption of the downtrend [..]

Daily Market Comment – Global markets in a cheerful mood, but risks abound

Posted on January 25, 2021 at 9:45 am GMT

Wall Street set for new record highs as California lifts stay-at-home order Dollar stable as traders look to Fed meeting, sterling near recent peaks But geopolitics, virus mutations, and stimulus talks threaten a reality check Stocks sail higher as investors focus on the positives American equity markets continue to trade like a runaway train, setting the tone for most other assets. Expectations for a massive spending package from Congress are riding high, and with the Fed chief recently reaffirming that [..]

Daily Market Comment – Stocks retreat, dollar edges up as virus concerns creep in again

Posted on January 22, 2021 at 10:11 am GMT

Equity rally loses steam after strong weekly gains amid renewed virus jitters Talk of Biden tax increases also undermines risk appetite, lifting the dollar Poor data pull down pound and aussie but euro fares better after ECB stays put Virus outbreaks, recession fears cap risk rally The stimulus-led stock market rally faltered on Friday as investors paused for breath after sharp gains in a week when US President Joe Biden formally took office, reaffirming expectations of higher spending and borrowing [..]

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