All Articles Tagged - USDJPY

Market Comment – US dollar recovers, stocks’ rally stalls as market tries to find its footing

Posted on May 8, 2024 at 7:49 am GMT

Fed expectations drive the market; three Fed speakers on the wires today Dollar recovers but all eyes are on the US stocks and Treasury yields The pound prepares for the BoE meeting as elections gain more airtime Yen on the back foot again; gold steady amid the Israeli ground operation Dollar recovers, equity rally stalls The US dollar has almost erased its NFP losses against the euro as the US stock indices’ rally has stalled. Dovish expectations have taken centre [..]

Weekly Technical Outlook – USDJPY, GBPUSD, USDCAD

Posted on May 7, 2024 at 3:01 pm GMT

Strengthening rate cut projections weigh on USDJPY; upward pattern intact above 151.90 GBPUSD faces rejection near familiar resistance of 1.2630 ahead of BoE policy announcement USDCAD trends within a short-term bearish channel; key support level at 1.3530 Intervention risks, Fed talk –> USDJPY The week ahead will be light in terms of US data releases, but a couple of Fed speakers will be on the wires to comment on monetary policy and perhaps fuel fresh volatility in the greenback. Meanwhile [..]

Market Comment – Dollar stays weak as Fed rate cut bets increase

Posted on May 7, 2024 at 7:51 am GMT

US labor market cools more than expected Dollar slides as two rate cuts this year become more likely Yen retreats as intervention momentum fades Wall Street cheers prospect of lower interest rates Investors add back to their Fed rate cut bets The US dollar tumbled across the board on Friday and extended losses against some of its major peers on Monday after the US employment report revealed that the world’s largest economy saw its fewest job gains in six months [..]

Market Comment – Stocks enjoy Fed-induced bounce as dollar slips ahead of NFP

Posted on May 3, 2024 at 9:02 am GMT

Risk appetite returns after dovish Fed, but will jobs report spoil the party? Apple to likely secure weekly gains for Wall Street Yen rally gets additional boost from softer dollar after suspected interventions Fading rate hike fears lift markets Investors appear to be positioning themselves to end the week on a high note after a tumultuous week for both equity and FX markets. Fed Chair Jerome Powell probably achieved what he set out to do, which is to beat the [..]

Week Ahead – BoE and RBA decisions headline a calm week

Posted on May 3, 2024 at 7:36 am GMT

Bank of England meets on Thursday, unlikely to signal rate cuts Reserve Bank of Australia could maintain a higher-for-longer stance Elsewhere, Bank of Japan releases summary of opinions BoE – No rate cuts yet Britain’s economy seems to have escaped the shallow recession it fell into last year, and has finally entered the recovery phase. Business surveys point to solid growth in the first quarter and even stronger momentum in the second quarter, powered by a rebound in consumer [..]

Market Comment – Dollar slides as Powell rules out rate hikes

Posted on May 2, 2024 at 8:08 am GMT

Fed appears less hawkish than expected Dollar and Treasury yields pull back Yen rallies on another round of suspected intervention Wall Street trades cautiously ahead of NFPs Fed is still leaning towards rate cuts The US dollar slipped against all its major counterparts yesterday, losing the most ground against the Japanese yen, with dollar/yen closing the day slightly more than 2% down. Responsible for the dollar’s retreat was the Fed. The Committee decided to keep interest rates unchanged as was [..]

Technical Analysis – USDJPY erases losses, but risks remain

Posted on May 1, 2024 at 12:57 pm GMT

USDJPY erases latest decline to test critical resistance Technical signals cannot warrant a bullish continuation FOMC policy announcement due today at 18:00 GMT USDJPY recouped Monday’s losses and is again testing the critical resistance line from January which rejected the bulls near 157.83. The negative slope in the stochastic oscillator and the overbought signals coming from the RSI suggest that downside risks are still alive following the recent close above the upper Bollinger band. The upper band of the bullish channel at [..]

Market Comment – Dollar enjoys a bid; stocks concerned about a hawkish Fed

Posted on May 1, 2024 at 8:05 am GMT

Fed meeting in the spotlight; equities under pressure Dollar strength continues, could intensify if Fed appears hawkish Questionable yen intervention result; more action over the next sessions? Bitcoin fights for $60k level; oil in retreat despite Middle East headlines May starts on a high note The Fed meeting concludes today with the decision announced at 18:00 GMT and the press conference taking place 30 minutes later. The market does not expect a rate change but there is an increasing possibility of a [..]

Technical Analysis – USDJPY stabilizes a tad below 160.00

Posted on May 1, 2024 at 7:35 am GMT

USDJPY jumps to its highest level since April 1990 A suspected Japanese intervention does not have meaningful impact Oscillators exhibit a divergence regarding overbought conditions USDJPY has been in a steady uptrend since the beginning of the year, posting a fresh 34-year high on Monday. After a roller coaster session that day following speculation over a Japanese intervention, the pair experienced a strong sell off before recouping a significant part of its losses. Should bullish pressures persist, the price could [..]

Could Monday’s intervention turn the tide for the yen? – Special Report

Posted on April 30, 2024 at 2:38 pm GMT

Japan allegedly intervened for the first time in six months Most recent interventions did not produce concrete results A more hawkish BoJ is probably needed for a sustained yen rally Japan has a long history of market interventions, to weaken or prop up its currency. Several times since the 1990s, Japan, unilaterally or with help from its main trading partners, tried to turn the tide for the yen. A quick look at the most recent market interventions, including yen’s post-intervention [..]

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