All Articles Tagged - USDJPY

Daily Market Comment – Hong Kong leads global markets lower as tensions spike

Posted on May 22, 2020 at 8:34 am GMT

Risk aversion deepens as China announces new security laws in Hong Kong Dollar and yen edge higher, global stocks sell off on fears of US retaliation Range breakouts rejected across multiple charts – S&P 500, euro, aussie, loonie Hong Kong sparks worries of new chapter in US-China tensions Global risk appetite crumbled on Friday, after China announced plans to establish an ‘enforcement mechanism’ for ‘safeguarding national security’ in Hong Kong. The news came hot on the heels of legislation to [..]

Daily Market Comment – Nasdaq charges higher, pound feels heat of negative rates

Posted on May 21, 2020 at 8:23 am GMT

Stocks defy economic gravity; Nasdaq closes in on record highs But markets more cautious Thursday, after Trump’s twitter storm vs China Pound rebound falters as BoE Governor doesn’t rule out negative rates Dollar finds its footing ahead of speeches by Fed’s top echelon Nasdaq approaches all-time high, but futures retreat Close your eyes and you wouldn’t know we are in the middle of a deep recession. At least not by looking at the Nasdaq 100 (+2%), which closed less than [..]

Daily Market Comment – Stocks trapped in ‘no man’s land’, but yen slides

Posted on May 20, 2020 at 8:32 am GMT

Equities pull back as vaccine doubts set in, still stuck in a range Yet broader FX market in a ‘risk on’ mood, yen bruised by BoJ news Bank of England speakers in focus today ahead of Fed minutes Markets look for another catalyst as vaccine rally falters The vaccine-powered euphoria that propelled stocks higher at the start of the week gave way to skepticism on Tuesday, as reports blasted the lack of data in Moderna’s vaccine study, stressing that the [..]

Technical Analysis – USDJPY tests key resistance for more upside moves

Posted on May 20, 2020 at 7:44 am GMT

USDJPY controlled by the 20- and 50-day simple moving averages (SMAs) the past few sessions is pushing for another soft green week that could see a test of the 108.50 barrier if the bulls manage to successfully breach the 50-day SMA and resistance around 107.97– being the 61.8% Fibonacci of the down leg with a top at 112.21 and a low at 101.17. According to the momentum indicators, another upside correction is possible as the RSI and the MACD are [..]

US flash PMIs may bring glimmer of hope as Fed minutes likely to be downcast – Forex News Preview

Posted on May 19, 2020 at 11:49 am GMT

Federal Reserve chief Jerome Powell has had a busy public speaking week and his schedule will remain busy as he testifies before Congress on Tuesday and participates in a ‘Fed Listens’ event on Thursday. The minutes of the April 28-29 FOMC meeting are also due this week (Wednesday, 18:00 GMT) and policymakers will likely strike a downbeat tone amid warnings of a slow recovery. However, with markets seeking any excuse – the latest being the Moderna vaccine trial – to [..]

Daily Market Comment – Vaccine hopes power markets higher, can Powell add more fuel?

Posted on May 19, 2020 at 8:28 am GMT

Vaccine headlines, Fed stimulus bets, and EU recovery package propel stocks higher Yen, dollar, and franc suffer as euro and commodity currencies cheer Fed chief testifies before US Senate today (14:00 GMT), can he keep the ‘party’ going? Perfect storm for stocks Risk appetite returned with a vengeance to global markets on Monday, with the S&P 500 (+3.15%) having its best day in weeks amid a perfect storm of news around a virus vaccine, more Fed stimulus, and a European [..]

Technical Analysis – USDJPY flirts with 23.6% Fibonacci; lacks direction in near term

Posted on May 18, 2020 at 9:11 am GMT

USDJPY successfully surpassed the short-term simple moving averages (SMAs) in the 4-hour chart but the outlook remains neutral as it failed to jump above the 23.6% Fibonacci retracement level of the down leg from 111.70 to 105.95 at 107.33. The momentum indicators are moving with weak momentum too, with the MACD hovering slightly above the zero line and the RSI pointing marginally up. If there is an upside move above the 23.6% Fibo of 107.33, immediate resistance could come from [..]

Daily Market Comment – Stocks and gold climb as Fed hopes overpower trade fears

Posted on May 18, 2020 at 8:34 am GMT

US equities set to open higher, gold soars after Fed chief’s ‘whatever it takes’ moment But escalating US-China tensions & second wave fears lurking in the background Pound sinks as investors brace for Brexit talks to fall apart Powell turbocharges gold, lifts stocks Global markets are in a good mood on Monday, with commodity currencies recovering and Wall Street set for a ~1.5% higher open, following a ‘whatever it takes’ moment from Fed Chairman Powell. In remarks published over the [..]

Week Ahead – Reopening woes and trade fears dent sentiment

Posted on May 15, 2020 at 12:44 pm GMT

The coming week seems relatively quiet. The preliminary PMIs for April in the UK, US, and Eurozone will give us an update on how much businesses have suffered, while the minutes of the latest Fed meeting might reaffirm the central bank’s willingness to do even more, even as Chairman Powell hints that Congress should take the lead. Overall though, the most important variables for investors may be how quickly new virus cases increase now that economies are partially re-opening, and [..]

Japan set to enter recession but hope for rebound as state of emergency lifted – Forex News Preview

Posted on May 15, 2020 at 12:34 pm GMT

GDP numbers out of Japan will be headlining the start of the trading week as first quarter growth estimates are published on Monday local time (Sunday, 23:50 GMT). The world’s third largest economy is expected to have contracted for the second quarter in a row, meaning it has entered a technical recession even though Japan has opted against a strict lockdown. But Japan’s economic woes began before the outbreak of the coronavirus and this latest crisis only adds to the [..]

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