All Articles Tagged - USDJPY

Market Comment – US PPI and retail sales data enter the limelight

Posted on March 14, 2024 at 9:23 am GMT

After hot CPI inflation, dollar awaits PPI and retail sales data Yen on the back foot as BoJ March hike bets decrease S&P 500 and Nasdaq pull back, gold rebounds Dollar trades cautiously ahead of US data The US dollar traded lower against most of its major peers yesterday, gaining some ground only against the Swiss franc and staying virtually unchanged against the Japanese yen. Today, the greenback is trading slightly higher or unchanged. It seems that dollar traders have [..]

Will the BoJ take interest rates out of negative territory? – Preview

Posted on March 13, 2024 at 3:51 pm GMT

Investors assign nearly 50% chance for a March BoJ hike Wage negotiations set to conclude with strong pay hikes Recession is avoided, inflation reaccelerates The BoJ meets on Tuesday at 02:30 GMT March hike speculation intensifies The yen staged a strong recovery last week following several reports suggesting that the Bank of Japan (BoJ) may abolish its ultra-loose monetary policy as early as its upcoming policy meeting, which is scheduled for next week. After a couple of policymakers noted that [..]

Market Comment – Stocks power to new records despite hot US inflation

Posted on March 13, 2024 at 9:49 am GMT

US inflation comes in hotter than expected, but markets brush it off Dollar unable to gain much, equities close at new all-time highs Gold hit by profit taking, yen soft even as BoJ speculation heats up Inflation surprise doesn’t scare markets A surprisingly hot US inflation report was not enough to frighten investors yesterday. Inflation as measured by the consumer price index clocked in at 3.2% in February, missing expectations that it would remain steady at 3.1%. It was a [..]

Technical Analysis – USDJPY stuck inside a key range

Posted on March 13, 2024 at 7:48 am GMT

USDJPY trades sideways in anticipation of next week’s key events USDJPY’s correction halted a tad above the 200-day SMA Momentum indicators support the bearish trend but with less conviction USDJPY is trying to record a green candle today as it tests the resistance set by the 146.65-148.28 range. The correction from the late February highs halted at the 200-day simple moving average (SMA) with market participants potentially positioning for the key events ahead, which include wage talk results and next week’s [..]

Technical Analysis – USDJPY bulls might fight for an upturn

Posted on March 12, 2024 at 3:13 pm GMT

USDJPY turns up after stronger CPI data, but remains restricted Oversold conditions detected; resistance at 148.16 USDJPY did not capitalize much on the back of higher-than-expected US CPI data, rising moderately to find resistance around its 50-day simple moving average (SMA) at 148.16. The bulls, however, may not give up easily. Both the RSI and the stochastic oscillator seem to have bottomed out in their oversold regions and are set for an upside reversal, reflecting diminishing selling dynamics. Moreover, the recent [..]

Market Comment – Investors lock gaze on US inflation data

Posted on March 12, 2024 at 9:22 am GMT

Dollar trades cautiously ahead of inflation numbers Yen pulls back on Ueda’s and Suzuki’s remarks Pound retreats but BoE still expected to cut rates after Fed S&P 500 and Nasdaq slide, Bitcoin hits new record high Dollar looks for direction in CPI data The US dollar traded higher against most of the other major currencies on Monday, but it is trading more cautiously today, recording noticeable gains only against the yen and the pound. It seems that trading is more [..]

Weekly Technical Outlook – USDJPY, GBPUSD, Nvidia

Posted on March 11, 2024 at 1:30 pm GMT

USD/JPY eyes 200-day SMA after dramatic downfall; US CPI next on the calendar GBP/USD resumes bullish outlook as UK jobs data loom Nvidia stock sinks the most in a while. Where next for the AI king? US CPI inflation –> USD/JPY February saw a jobs growth of 275k in the US, surpassing analysts’ expectations. However, a downward revision in previous readings and a rise in the unemployment rate, along with slowing wages, fueled rate cut projections and led to more selling [..]

Market Comment – Gold shines, dollar languishes after mixed US payrolls

Posted on March 11, 2024 at 9:35 am GMT

Dollar in limbo after mixed signals from US employment report Japanese yen and British pound capitalize most on dollar’s troubles Gold hits another record, but high-flying stocks correct lower Dollar directionless after jobs data The US labor market continues to cool, keeping the Fed on track to slash interest rates in the summer. Nonfarm payrolls overcame forecasts in February, clocking in at 275k. However, the rest of the employment report was disappointing with big negative revisions to previous months, the [..]

Week Ahead – US CPI to headline dull week, may spoil the calm

Posted on March 8, 2024 at 12:19 pm GMT

US inflation and retail sales data to take the spotlight as dollar slips UK jobs and GDP numbers coming up too amid recession woes Will markets hold their nerve before the looming central bank storm? Will CPI report cause a sticky problem for the Fed? The US Federal Reserve doesn’t meet until March 20 for its next policy decision and with the jobs report out of the way, all eyes are now on the CPI numbers for February due Tuesday. [..]

Market Comment – Dollar gets smoked ahead of nonfarm payrolls

Posted on March 8, 2024 at 9:38 am GMT

Dollar falls sharply, will US employment data fuel this selloff? Yen stages comeback, euro climbs as well after ECB decision Gold and stocks hit new record highs as stunning rally continues Dollar braces for critical US jobs report An action-packed week in global markets will come to a crescendo today with the latest US employment report. Nonfarm payrolls are projected to have risen by 200k in February, less than the previous month but still a solid number overall. The unemployment [..]

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