All Articles Tagged - USDJPY

BoJ meeting: opening the door for more stimulus? – Forex News Preview

Posted on June 19, 2019 at 2:19 pm GMT

The Bank of Japan (BoJ) will conclude its meeting early on Thursday, and while no action is expected, the yen may still tumble a little if the central bank hints it could add more stimulus going forward. In the bigger picture though, the outlook for the currency seems to be brightening as both the Fed and ECB have much more ‘ammunition’ to ease than the BoJ does, with trade tensions further enhancing the yen’s allure. The BoJ finds itself in [..]

Daily Market Comment – Fed meets; will Chair Powell be dovish enough?

Posted on June 19, 2019 at 7:53 am GMT

All eyes on Fed – Powell may have trouble satisfying the bears Euro cruises lower as Draghi signals more stimulus Stocks roar higher as Trump-Xi agree to meet at G20 UK & Canadian inflation data coming up Fed meeting: Dovish, but enough to appease the market? The main event today will be the Fed policy decision at 18:00 GMT, followed by a press conference from Chairman Powell half an hour later. A more dovish tone seems almost certain in light [..]

Technical Analysis – USDJPY still bearish below moving averages

Posted on June 19, 2019 at 7:04 am GMT

USDJPY remains stuck in a bearish phase as the momentum oscillators struggle in negative territory. The RSI is trending downwards below the 50 level, while the MACD histogram is heading back down below 0, though it’s holding above its red signal line for now. Prices are currently being capped by the 108.75 level, whish is the 61.8% Fibonacci retracement of the upleg from 106.50 to 112.39. The 20-day moving average also lies in that region, suggesting this could prove a [..]

Week Ahead – Markets seek rate cut signals from Fed; BoE and BoJ meet too; euro eyes flash PMIs

Posted on June 14, 2019 at 10:56 am GMT

Central bank meetings will be front and centre next week as the Federal Reserve, Bank of England and Bank of Japan convene for their policy decisions. The Fed will likely grab the most attention amid intensifying expectations of a rate cut. In terms of data releases, the main focus will be on inflation as Canada, the Eurozone, Japan and the United Kingdom report for the month of May. Flash PMIs out of the Eurozone will be important too, so will [..]

Daily Market Comment – Oil, gold up on Middle East tensions; dollar steady ahead of US retail sales

Posted on June 14, 2019 at 8:03 am GMT

Brent crude extends gains following tanker attack in Gulf of Oman; gold lifted too Dollar heads for weekly gains as US retails sales and Fed meeting eyed Aussie and kiwi sag on growing rate cut bets Oil jumps on renewed tensions in Middle East Market sentiment was mixed on Friday as ongoing trade uncertainty and a flare up in Middle East tensions were partly offset by growing expectations that the Fed will come to the rescue of a weakening economic [..]

Daily Market Comment – Yen up on trade deal pessimism; pound down on failed bid to block no-deal Brexit

Posted on June 13, 2019 at 8:11 am GMT

Major pairs struggle against the yen as the market mood sours on low hopes of a US-China trade deal US dollar also supported from risk-off despite softer-than-expected inflation data Pound gains then falls again as opposition MPs fail to get backing for legislation blocking a no-deal Brexit Safe havens back in demand Fading hopes that there could be a breakthrough in the stalled trade talks between the United States and China at the G20 summit weighed on market sentiment for [..]

Technical Analysis – USDJPY hovers below 109; descending channel holds in near term

Posted on June 13, 2019 at 6:42 am GMT

USDJPY has been on the sidelines for the most part of the week as the 109.00 level seems to be a real obstacle for the bulls. Over the last seven weeks the pair has been developing in a descending channel, erasing the bullish retracement from the 104.64 support. Technically, the price could lose some ground in the short-term as the RSI is moving downwards in the negative area, while the stochastic is creating a bearish cross within the %K and [..]

Daily Market Comment – Dollar drifts lower ahead of US inflation data; euro edges up on Trump tweet

Posted on June 12, 2019 at 8:17 am GMT

US dollar drifts lower as markets await US inflation data for Fed rate clues Stocks turn negative as Trump says he’s “holding up the deal” with China Euro eyes fresh highs, gets a lift from Trump’s currency comments Risk appetite fades as US-China deal looking unlikely at G20 US stocks ended their five-day winning streak as hopes that the US and China would still be able to get the trade negotiations back on track at the G20 summit fast dwindled. [..]

Dollar on standby for US inflation and retail sales data after poor jobs report – Forex News Preview

Posted on June 11, 2019 at 10:52 am GMT

With rate cut expectations running high following Friday’s disappointing NFP report, the focus for the US dollar this week is firmly on the latest inflation and retail sales figures. The inflation data is released first on Wednesday at 12:30 GMT, followed by the retail sales report on Friday, at the same time. As concerns grow about a sharp slowdown in the US economy, investors will be watching this week’s indicators for more clues about the timing of a rate cut [..]

Daily Market Comment – Relief rally on Mexico deal continues; stocks and dollar advance

Posted on June 11, 2019 at 8:19 am GMT

Markets extend relief rally following US-Mexico deal that averted tariffs on Mexican imports Dollar and stocks edge higher, but gains capped amid doubts about Trump-Xi meeting at G20 Pound slips on GDP contraction; unable to find much support from hawkish BoE comments Risk appetite recovers further after US-Mexico truce The US dollar continued to edge higher on Tuesday, lifted by recovering Treasury yields as demand for safe-haven government bonds ebbed after President Trump struck a deal with Mexico over illegal [..]

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