All Articles Tagged - USDJPY

Market Comment – Gold shines bright, yen knocks on intervention door

Posted on April 9, 2024 at 8:02 am GMT

Gold prices remain near record highs – is the rally overstretched? Yen hovers at multi-decade lows, FX intervention still on the radar Dollar inches lower, stocks trade sideways, RBNZ meeting next All that glitters is gold The world’s oldest safe-haven asset has gone on a tear this year, rising more than 13% to reach consecutive new record highs, despite the negative pressure exerted by rising bond yields and a firmer US dollar. Gold has been turbocharged by purchases from central [..]

Weekly Technical Outlook – USDJPY, EURGBP, USDCAD

Posted on April 8, 2024 at 12:50 pm GMT

USDJPY has been quiet within a range for a while. Is it time for action? EURGBP keeps looking for a bullish trend reversal as ECB rate decision looms USDCAD maintains positive structure ahead of an interesting BoC meeting US CPI inflation –> USDJPY Wednesday will be an inflation day in the US. The new CPI data will cover March and will give a comprehensive overview of the first quarter. Inflation has been surpassing expectations this year, which is why [..]

Market Comment – Fed hawks spook markets ahead of NFP

Posted on April 5, 2024 at 9:08 am GMT

Hawks dominate latest round of Fed speak; stocks slip, dollar rebounds But rate cut odds little changed as US jobs report awaited Yen firms after Ueda opens door to more rate hikes Oil extends gains on geopolitical tensions, but gold pulls back Fed officials cast doubt about rate cuts Fresh uncertainty about the timing and pace of Fed rate cuts this year weighed on markets on Friday as policymakers grew increasingly wary about the inflation outlook. The expectation that the [..]

Technical Analysis – USDJPY hovers beneath 152 ceiling as bulls refuse to give up

Posted on April 4, 2024 at 11:21 am GMT

USDJPY remains stuck within 151-152 range Neutral trend looks safe for now But strong support keeps bullish forces alive USDJPY has been gradually inching higher after dropping near the floor of the sideway range at the end of March to briefly touch 151.01. Prices made it all the way to 151.94 on Wednesday before easing again. However, with both the 20- and 50-day simple moving averages (SMA) lurking below the price action, there is still a possibility of a [..]

A trading playbook on Japanese FX intervention – Special Report

Posted on April 3, 2024 at 2:11 pm GMT

Yen falls 7% this year to hit lowest levels in three decades Japanese authorities threaten to intervene again to defend it How likely is intervention, and what are the steps to get there? Yen tanks, again The Japanese yen absorbed heavy damage this year, briefly falling to a 34-year low against the US dollar. Selling pressures persisted even after the Bank of Japan raised interest rates out of negative territory, leading authorities in Tokyo to threaten another round of FX [..]

Market Comment – Dollar and gold rise in tandem as Fed rate cut bets pared back

Posted on April 2, 2024 at 9:17 am GMT

Dollar strengthens across the board after upbeat ISM as June cut hopes fade Japan keeps up intervention rhetoric as yen stays under pressure Gold undeterred by strong dollar, rebounds towards record high Equities mixed ahead of crucial European and US data Rate cut bets suffer another blow Hopes for an early rate cut by the Fed were dashed again on Monday following yet another upbeat data release out of the US. The ISM manufacturing PMI rose more than expected in [..]

Weekly Technical Outlook – USDJPY, EURUSD, USDCAD

Posted on April 2, 2024 at 8:59 am GMT

USDJPY struggles below 34-year high as NFP report awaited European Flash CPI to fall but will EURUSD extend recent decrease? Canada unemployment number predicted to rise; USDCAD looks for a rebound NFP report –> USDJPY The labor market has predominantly exhibited a positive trend, albeit with a steady decline that has caused the Federal Reserve to be concerned about potential overheating. However, a deceleration became more evident in February as the jobless rate increased to 3.9% and pay growth fell [..]

Technical Analysis – USDJPY’s range trading could end this week

Posted on April 1, 2024 at 1:52 pm GMT

USDJPY continues to trade sideways, a tad below the 151.94 high Quiet start to the week but there are some key market events ahead Momentum indicators are mostly supportive of the recent bullish move USDJPY continues to trade sideways, hovering aimlessly a tad below the October 21, 2022 high at 151.94. Market participants have probably moved to the sidelines due to the Easter break but this week’s busy calendar could force them to rejoin the action. In addition, with USDJPY [..]

Market Comment – Gold prices storm to new record highs

Posted on April 1, 2024 at 9:19 am GMT

Gold cruises to new all-time high in thin holiday trading Yen steady in a narrow range, dollar braces for key events Stock markets keep rising, with some help from Chinese data Gold goes through the roof The world’s oldest safe haven asset stormed to a new all-time high on Monday, reaching a peak of $2,265 per ounce in an environment of thin liquidity as most of Europe is away on holiday. Gold has risen more than 9% already this year, [..]

Week Ahead – Rate cut hopes rest on US jobs report and Eurozone flash CPI

Posted on March 29, 2024 at 10:32 am GMT

Nonfarm payrolls report and European flash CPI to shape rate cut bets ISM PMIs to also be important for Fed expectations and US dollar Canadian employment and Chinese PMIs also on the agenda Fed hawks rear their ugly heads The March round of policy meetings reinforced June as the likely date when most central banks will begin cutting rates. Yet, doubts remain about whether or not inflation is on a sustainable path downwards, especially in the United States. Although FOMC [..]

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