All Articles Tagged - USDJPY

Market Comment – Core PCE inflation takes center stage

Posted on March 29, 2024 at 9:10 am GMT

Dollar extends advance ahead of core PCE data Dollar/yen stays on intervention watch S&P 500 secures strongest Q1 in five years Gold stretches to new record high Will PCE data point to sticky inflation? The US dollar continued outperforming most of its major peers on Thursday as the upside revision of the US GDP data for Q4 added more credence to Fed Governor Waller’s view that the Fed should not rush into lowering interest rates. Today, dollar traders have turned [..]

Market Comment – Fed’s Waller fuels the dollar, yen intervention warnings intensify

Posted on March 28, 2024 at 9:34 am GMT

Fed Gov. Waller says no rush to lower rates June rate cut probability declines, dollar gains Yen recovers on stronger intervention warnings Wall Street and gold trade north Dollar gains as Waller signals patience The US dollar finished Wednesday slightly higher against all but one of its major peers and continues to trade on the front foot on Thursday as well. The only currency versus which it lost ground yesterday was the Japanese yen. The greenback started the day on [..]

Market Comment – Yen sinks to intervention ‘danger zone’

Posted on March 27, 2024 at 9:43 am GMT

Yen slips to new 34-year low, drawing stronger intervention threats Swiss franc loses ground too, dollar rebounds after solid US data Gold steady near record highs, chipmakers weigh on stock markets Yen hits the danger zone Currency traders are dusting off their FX intervention playbooks after the Japanese yen briefly fell to its lowest levels since 1990 against the dollar, drawing fierce warnings from officials in Tokyo that they could step in to defend the currency. Dollar/yen is currently flirting [..]

Technical Analysis – Are USDJPY bulls ready for a new record high?

Posted on March 27, 2024 at 8:16 am GMT

USDJPY trades higher again, testing the October 21, 2022 high Last week’s events have renewed the bullish pressure as intervention risk increases Momentum indicators support the bullish move; all eyes are on the stochastic oscillator USDJPY is continuing its journey north and it is now testing the October 21, 2022 high at 151.94 as last week’s events have probably invigorated the bulls. With the USDJPY firmly above the 150 threshold, the intervention risk is rising although the Japanese authorities appear somewhat relaxed at this [..]

Weekly Technical Outlook – USDJPY, EURUSD, Gold

Posted on March 26, 2024 at 1:47 pm GMT

USDJPY consolidates gains after touching important resistance EURUSD begins to recover, but threats remain Will gold’s bull run take a breather after record high? Core PCE inflation –> USDJPY The Bank of Japan’s decision to exit negative interest rates did not provide a helping hand to the yen. Neither did the Fed’s unchanged projections of three rate cuts in 2024 weigh harshly on the US dollar, with USDJPY barely losing ground within the 151.00 territory after marking a new [..]

Market Comment – Yen stabilizes as Japan ramps up intervention warning

Posted on March 26, 2024 at 9:45 am GMT

Threats of FX intervention help yen to stabilize near three-decade lows Dollar and stocks take a step back, Bitcoin jumps in anticipation of halving Shortage of liquidity could be an important market theme this week Yen on intervention watch Authorities in Japan issued another round of warnings to defend the sinking yen, which fell towards its lowest levels in three decades last week, even after the Bank of Japan raised interest rates out of negative territory. Finance minister Suzuki said [..]

Market Comment – Dollar eases from highs as intervention warning props up yen

Posted on March 25, 2024 at 10:22 am GMT

Intervention threat spurs mild rebound in yen after top currency official’s warning Yuan also rebounds, triggering broader retreat in US dollar Stock market rally cools amid quieter week before Easter break, core PCE eyed Yen firmer after fresh verbal intervention The Japanese yen edged higher on Monday, starting the holiday-shortened week on a steadier note, following a 3.5% slide on the back of the Bank of Japan’s dovish rate hike last week. Whilst the BoJ’s historic exit from negative rates [..]

Week Ahead – Markets quiet down after central bank frenzy

Posted on March 22, 2024 at 12:03 pm GMT

Dollar recovers after Fed selloff, turns to PCE inflation Yen falls despite rate increase, testing three-decade lows Quarter-end flows could disturb the waters in a quiet week Dollar stages recovery after Fed It was an action-packed week for FX traders, with five central bank meetings injecting volatility into the market. In a surprising move, the Federal Reserve continued to signal three rate cuts for this year, even though its new economic forecasts pointed to slightly hotter inflation and faster [..]

Market Comment – Stocks at fresh records even as dollar bounces back

Posted on March 22, 2024 at 10:38 am GMT

Wall Street leads rally in equity markets, fuelled by rate cut optimism But US dollar stages surprise rebound amid US exceptionalism Pound slides on BoE’s dovish tilt, yen steadies, PBOC loosens grip on yuan Equities buoyed as easing expectations gather pace Shares on Wall Street are headed for strong weekly gains following the conclusion of the March central bank meetings that cemented rate cut expectations for 2024. After the European Central Bank paved the way for lower rates at the [..]

Technical Analysis – USDJPY reaction to the Fed and BoJ decisions

Posted on March 21, 2024 at 11:24 am GMT

Fed and BoJ decisions have some impact on USDJPY Daily chart shows some weakness for the next few sessions But weekly chart looks strongly bullish FOMC decision drives dollar lower The dollar declined following the FOMC meeting on Wednesday, as Federal Reserve Chair Powell adopted a more accommodative stance. Policymakers have maintained the dot plot’s view for this year, which indicates a total of 75 basis points worth of interest rate reductions. That was sufficient to elicit a direct response in markets following the [..]

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