All Articles Tagged - USDJPY

Technical Analysis – USDJPY to hold between upward-sloping trendlines

Posted on November 14, 2019 at 8:11 am GMT

USDJPY erased a portion of last week’s gains after failing to close above 109.50, which is the 61.8% Fibonacci of the downleg from 112.39 to 104.44 and a threshold the pair needs to breach to resume positive direction in the three-month picture (medium-term). Technically, the pair could record a neutral session in the short-term as the RSI has almost reached its 50 neutral mark, while the MACD is extending its sideways move around its signal line. On the downside, the ascending [..]

Solid Q3 GDP for Japan, but weakness ahead? – Forex News Preview

Posted on November 13, 2019 at 1:50 pm GMT

Japanese GDP numbers for Q3 are coming up during the early Asian session on Thursday (Wednesday 23:50 GMT). Forecasts point to a solid quarter, as domestic demand remained strong even despite global worries keeping a lid on exports. That said, much of that strength was likely owed to consumers front-loading purchases ahead of a planned VAT increase, so the next quarter may be especially weak as consumption falters. As for the yen, it has gotten beaten up recently, but if [..]

Daily Market Comment – RBNZ catapults kiwi higher; Trump decides on EU tariffs

Posted on November 13, 2019 at 9:17 am GMT

Kiwi outperforms as RBNZ surprisingly refrains from cutting rates Markets in a slight risk-off mood as trade doubts reemerge Today: Trump decides on EU tariffs, Fed chief Powell testifies, and US CPI data RBNZ surprisingly keeps rates unchanged, propels kiwi higher To the surprise of many, the Reserve Bank of New Zealand (RBNZ) kept its policy rate unchanged overnight, confounding forecasts and market expectations, as a rate cut was priced in with an ~80% probability. Even though policymakers kept the [..]

Daily Market Comment – RBNZ to slash rates; more blues for the kiwi?

Posted on November 12, 2019 at 9:10 am GMT

Kiwi underperforms as investors bet that RBNZ will cut rates overnight Pound rejoices as Brexit party warms up to Tories, but risks seem tilted to the downside UK jobs data, Germany’s ZEW survey, and Fed-speak today RBNZ set to cut rates after inflation expectations drop The Reserve Bank of New Zealand (RBNZ) will announce its rate decision early on Wednesday, at 01:00 GMT. A rate cut seems quite likely, after a survey released overnight showed that the nation’s 2-year inflation [..]

Daily Market Comment – US stocks cruise to new records, but Hong Kong weighs

Posted on November 11, 2019 at 9:25 am GMT

Risk aversion strikes back as Hong Kong protests intensify and trade doubts resurface Dollar advances without new catalysts, loonie stumbles on weak data UK GDP numbers due, but sterling keeps its sights on election polls Hong Kong jitters send global equities back down, lift yen US stock markets levitated to new records on Friday, undeterred by some remarks from President Trump that he hasn’t decided yet whether he is willing to roll back tariffs on China to get the ‘phase [..]

Week ahead – German recession, RBNZ rate decision, and a flood of data

Posted on November 8, 2019 at 1:46 pm GMT

The RBNZ will be the lone major central bank to decide on rates next week, but that doesn’t mean the schedule is light, as there’s an abundance of key economic data ripe for release. German growth figures will reveal if the euro area’s traditional star player entered a technical recession, while in America, a testimony by Fed chief Jay Powell could provide clues around the recent ‘pause’ in rate cuts. Beyond regular economics, markets will keep a watchful eye on [..]

Daily Market Comment – Risk appetite softens on mixed US signals about trade deal; pound slips after BoE

Posted on November 8, 2019 at 9:20 am GMT

Markets remain optimistic of a US-China deal but US officials cast doubt over tariff rollback Dollar set for weekly gains as yen on the pull back Pound skids after Bank of England signals possible rate cut Confused messages on tariff concession Risk appetite cooled off slightly on Friday as confusing signals by US officials on whether the White House is ready to accept the roll back of some of the tariffs on Chinese imports raised question marks about China’s assertion [..]

Daily Market Comment – Markets whipsaw on conflicting trade headlines; US-China deal moves closer

Posted on November 7, 2019 at 9:28 am GMT

US-China trade deal appears back on after earlier reports of a possible delay causes brief spike in risk aversion Yen led on a roller-coaster ride by on-off-on trade deal prospects Pound steady ahead of Bank of England meeting US and China reportedly agree to roll back some tariffs Trading got off to a volatile start on Thursday as negative headlines late on Wednesday quickly turned positive. Doubts emerged about the likelihood of the US and China being able to sign [..]

Technical Analysis – USDJPY 200-day SMA just about holds bulls at bay

Posted on November 7, 2019 at 9:16 am GMT

USDJPY’s further gains seem to be restricted by the 200-day simple moving average (SMA) and the upper Bollinger band around the 109.00 resistance level. Yet, the upward sloping mid-Bollinger band and 40-day SMA back an improving picture. Despite this, the 200- and 100-day SMAs have moved horizontal, implying that a sideways move may endure. Furthermore, the technical indicators suggest that positive momentum has weakened, something also reflected in the squeezing of the Bollinger bands. The MACD is in the positive [..]

Daily Market Comment – Dollar steadier after US data boost; stock market rally cools

Posted on November 6, 2019 at 9:18 am GMT

US dollar surges on strong ISM non-manufacturing PMI before steadying Stocks get off to softer start as trade deal euphoria starts to fade Euro pressured by stronger dollar; kiwi up despite disappointing jobs numbers Dollar hits 3-week high on upbeat PMI Better-than-expected economic data and optimism that the US and China are nearing a ‘phase one’ trade deal lifted the US dollar to the highest in three weeks against a basket of currencies on Tuesday. The dollar index reached a [..]

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