All Articles Tagged - USDJPY

Daily Market Comment – Fed walks the dovish line, but markets want more

Posted on June 11, 2020 at 8:16 am GMT

Fed commits to rock bottom rates for years, reaffirms ‘whatever it takes’ stance Dollar drops initially and stocks jump, but moves reverse as Powell doesn’t commit to yield curve control Markets in risk-averse mood overall Thursday, worrisome US virus numbers not helping Today: Eurogroup meeting on recovery fund and US jobless claims Fed says the right things, but markets left wanting As expected, the Federal Reserve took no action yesterday, signaled via its ‘dot plot’ of interest rate projections that [..]

Daily Market Comment – Nasdaq rips higher ahead of Fed decision, dollar in agony

Posted on June 10, 2020 at 8:06 am GMT

No action expected from Fed today, but signals will determine whether the ‘risk party’ can keep going Dollar extends losses ahead of rate decision, Nasdaq hits new record high Sinking greenback raises all other boats – euro, pound, franc, and commodity currencies near highs We’ll also hear from key ECB and BoE officials, and the EU’s top Brexit negotiator Markets take a breather ahead of the Fed Risk appetite cooled a little on Tuesday in a move that generally looked [..]

Technical Analysis – USDJPY snaps four-day winning streak; closes below trendline

Posted on June 10, 2020 at 7:32 am GMT

USDJPY rotated aggressively to the downside after crawling as high as 109.84 on Friday, slumping below the ascending trendline drawn from the 101.17 bottom and back into the 107.00 zone. The pair erased four green candles and the spotlight is now on the 23.6% Fibonacci retracement level of the short-term downleg from 111.70 to 105.97, which is intersecting with the upper surface of the Ichimoku cloud at 107.33. If the bears manage to remove this obstacle, confirming the negative signals [..]

Fed to sit tight as outlook turns brighter; will Powell defy the optimism? – Forex News Preview

Posted on June 9, 2020 at 2:39 pm GMT

The Federal Reserve’s Open Market Committee (FOMC) will conclude its two-day monetary policy meeting on Wednesday, announcing its decision at 18:00 GMT. After unprecedented central bank intervention since March to prevent a virus-induced economic meltdown, policymakers are not expected to make significant changes to their emergency programs this week. However, with the initial recovery from the lockdown easings proving stronger and faster than anticipated, everyone will be watching to see whether Fed Chairman Jerome Powell shares this optimism when he [..]

Daily Market Comment – Stocks back in the black, dollar selling takes a breather

Posted on June 9, 2020 at 8:22 am GMT

S&P 500 recoups all its losses for the year, Nasdaq hits new record Optimism echoed in FX too, with dollar struggling as commodity currencies hit multi-month highs However, we are seeing a reversal of these moves today – some profit taking? Looking ahead, much will depend on what the Fed does and whether a second wave hits the US S&P turns flat for 2020, Nasdaq cruises to new highs Fear has given way to greed in an impressive way over [..]

Week Ahead – Recovery hopes to remain front and centre as Fed to sit out June meeting

Posted on June 5, 2020 at 1:05 pm GMT

As global markets set their sights on a quick recovery from the COVID-19 crisis, key economic data for April – when the pandemic impact is thought to have peaked – will likely be sidelined next week. The Federal Reserve might also struggle to attract the usual attention when it holds a scheduled meeting as investors are not anticipating any new policy action. But as safe havens like the dollar and yen give way to virus-battered currencies, there are plenty of [..]

Daily Market Comment – Euro soars after ECB’s surprise; dollar extends slide ahead of NFP

Posted on June 5, 2020 at 8:30 am GMT

Euro skyrockets after ECB increases pandemic stimulus by more than expected Dollar stuck in a downward spiral, unlikely to be saved by US jobs report Oil clings on to gains despite OPEC confusion ECB takes out the bazooka again The resurgent euro, which has been rallying on the back of recovery hopes for the Eurozone economy, got another shot in the arm on Thursday after the European Central Bank delivered a bigger-than-expected stimulus. The ECB boosted its pandemic emergency purchase [..]

Daily Market Comment – Dollar slumps as recovery hopes gather pace

Posted on June 3, 2020 at 8:37 am GMT

Increasing optimism of strong economic recovery pummel the dollar Yen loses shine too, but gold holds within range as US and China risks linger Loonie nears 3-month high as BoC and OPEC+ decisions eyed Markets shrug off US unrest, look to recovery After a brief scare on Tuesday, it didn’t take long for risk appetite to get back into full mode as investors largely ignored growing unrest in the United States to instead focus on the increasing signs that a [..]

Technical Analysis – USDJPY rises sharply to 2-month high of 108.84

Posted on June 3, 2020 at 6:34 am GMT

USDJPY increased to an almost two-month high of 108.84 earlier today after the aggressive buying interest on Tuesday’s session, surpassing the flat 200-day simple moving average (SMA) and the upper Bollinger band. Also, the 20- and 40-day SMAs posted a bullish crossover, confirming the recent upside rally in the short-term. According to the momentum indicators, the RSI is slowing down in the bullish territory, while the MACD is holding above its trigger and zero lines but is failing to continue [..]

Daily Market Comment – US protests rage on, start to weigh on dollar

Posted on June 2, 2020 at 8:28 am GMT

Trump inflames protests, threatens martial law as US stocks begin to take notice Dollar extends slide as recovery hopes keep positive sentiment intact Aussie flirts with $0.68 after RBA, pound shoots above $1.25 despite Brexit risks Oil steady ahead of OPEC+ meeting Market unease as protests ravage US cities Mass protests continue for a seventh day across major cities in the United States, causing widespread damage and looting in what is another blow for businesses already crippled by the shutdowns [..]

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