All Articles Tagged - USDJPY

Market Comment – Fed minutes and Nvidia earnings in the spotlight

Posted on February 21, 2024 at 9:24 am GMT

Dollar gets knocked down ahead of FOMC meeting minutes Gold recovers more ground, China-related assets gain after rate cut Nvidia earnings later today will set the tone in stock markets Fed minutes to drive the dollar The US dollar hit an air pocket this week, losing altitude without any clear news catalyst behind the decline. Incoming data continues to point to a US economy that is running hot, with economic growth on track to hit 3% this quarter, a historically [..]

Technical Analysis – USDJPY hovers above a key trendline

Posted on February 21, 2024 at 7:37 am GMT

USDJPY trades sideways, hovering around the 150 level It remains close to its recent peak and it is comfortably above a key trendline Momentum indicators are mixed, all eyes on the stochastic oscillator USDJPY is trying to record a green candle as it continues to range trade and to respect the aggressive December 28, 2023 ascending trendline. It remains a tad below the October 3, 2023 high at 150.15, a level that appears to provoke verbal interventions from Japanese officials. In [..]

Dollar turns to Fed minutes for more fuel – Preview

Posted on February 20, 2024 at 12:42 pm GMT

Minutes of latest Fed meeting will be released at 19:00 GMT Wednesday Given strength of US economy, Fed has warned against early rate cuts If the minutes echo this view, dollar could extend its winning streak Traders recalibrate Fed rate path The US economy continues to fire on all cylinders. Economic growth is on track to hit 3% this quarter, the labor market is historically tight, and inflation readings have been persistently hot in recent months. Reflecting this economic [..]

Weekly Technical Outlook – USDJPY, EURUSD, GBPUSD

Posted on February 19, 2024 at 12:22 pm GMT

Will USDJPY find its next bullish catalyst this week to resume its uptrend? EURUSD stays victim to the dollar; needs significant gains to violate downtrend GBPUSD supported, but not bullish yet; focus on 1.2700 region FOMC meeting minutes, S&P Global business PMIs –> USDJPY In response to upbeat US data, investors have almost convinced themselves that the Fed will not deliver its first rate cut in spring while they are also undecided whether June’s policy meeting will be the right [..]

Market Comment – Rate cut bets boosted by surprise dip in US retail sales

Posted on February 16, 2024 at 10:19 am GMT

‘Higher for longer’ fears ease as US consumers spend less Pullback in yields propels S&P 500 to another record close Dollar softness props up euro as ECB doves get more vocal Early rate cut hopes thrown a lifeline After a string of upbeat data on the US economy, investors almost breathed a sigh of relief on Thursday when the latest retail sales numbers disappointed, calming nerves about an overheating economy. Rate cut expectations have suffered several setbacks since January amid [..]

Technical Analysis – USDJPY eases near the critical 150.00 mark

Posted on February 15, 2024 at 1:24 pm GMT

USDJPY fails to climb above 151.00 But still holds above short-term uptrend line Technical oscillators suggest bearish retracement USDJPY is retreating after the rally towards the fresh three-month high of 150.87. The market is currently testing the 150.00 psychological mark and if it remains above, it would be a sign of more bullish actions. However, the technical oscillators are suggesting a bearish retracement. The RSI is falling after the pullback off the 70 level and the stochastic oscillator posted a bearish crossover [..]

Market Comment- US retail sales in focus after UK and Japan slip into recession

Posted on February 15, 2024 at 9:35 am GMT

Goolsbee says Fed is on track even with inflation a bit higher Dollar pulls back, US retail sales enter the limelight Pound wounds deepen as UK economy slips into recession Yen gains on fears of intervention, despite Japan’s downturn Dollar retreats on Goolsbee’s remarks, US retail sales on tap The US dollar pulled back against all but one of its major peers on Wednesday, as traders may have decided to consolidate gains after Tuesday’s hotter-than-expected US inflation data and ahead [..]

Has the Japanese yen missed the recovery train? – Special Report

Posted on February 14, 2024 at 9:39 am GMT

Yen down more than 6% against US dollar this year already Traders less confident Japan will raise rates, as inflation slows For the yen to recover, global economy needs to weaken Yen feels the blues Another year, another meltdown for the Japanese currency. A combination of worsening economic data and some cautious messages by the Bank of Japan (BoJ) have raised doubts about whether a cycle of rate increases lies ahead, inflicting heavy damage on the yen. Specifically, inflation and [..]

Technical Analysis – USDJPY retreats after 3-month peak around 151.00

Posted on February 14, 2024 at 9:04 am GMT

USDJPY surpasses significant levels including 150.00 RSI and Stochastics indicate overbought market But MACD still looks strongly positive USDJPY experienced a new three-month high of 150.87 in Tuesday’s session after the release of the US CPI data. The rebound off the 140.20 support is still in progress, endorsing the bullish tendency in the short-term timeframe. The technical oscillators are showing some mixed signals. The RSI is ticking lower near the 70 level, while the stochastic oscillator is posting a bearish [..]

Market Comment – Markets seek direction from US CPI report

Posted on February 13, 2024 at 10:21 am GMT

Wall Street eases from highs as investors on standby for US inflation update Dollar supported as yields crawl higher, yen resumes slide Pound lifted by strong jobs data; Bitcoin soars above $50,000 Risk rally cools ahead of all-important inflation report Equities were mixed on Tuesday while major currency pairs traded within their recent ranges, with some exceptions, ahead of the crucial CPI numbers due out of the United States later in the day. After flirting with record territory again on [..]

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