All Articles Tagged - USDJPY

Daily Comment – Equities are directionless ahead of US inflation report

Posted on September 11, 2024 at 8:23 am GMT

Mixed movements in equities as markets prepare for CPI Strong possibility for a downside surprise in inflation US presidential debate dominates headlines Bitcoin suffers while gold and yen rally Stocks are in anticipation mode US equity indices were mixed yesterday with the Nasdaq 100 index recording another green day and the Dow Jones mimicking the European stock indices’ negative performance. Market participants are most likely preparing for a period that includes key market events, like next week’s Fed meeting, starting today with [..]

Technical Analysis – USDJPY plummets to new 9-month low

Posted on September 11, 2024 at 7:45 am GMT

USDJPY confirms the bearish structure Next support at 140.20 Momentum oscillators keep moving negative USDJPY tumbled to a fresh nine-month low of 140.70 earlier today, boosting the bearish structure that started at the beginning of July. If the market ends the day below the 141.60 strong barrier, then the focus will shift to the 140.20 support, taken from the lows in December 2023. Steeper declines could pave the way for a test of the July 2023 trough at 137.20. On [..]

Equities volatility jumps as sentiment turns negative – Volatility Watch

Posted on September 10, 2024 at 10:41 am GMT

Euro/dollar volatility remains low as market digests US data prints Volatility in commodities remains low apart from oil Stock indices and bitcoin experience much higher volatility Volatility in the main FX pairs, including euro/dollar, has eased in the past few days as the market is digesting last week’s US labour market data and preparing for Wednesday’s CPI report, which could play a role in determining the size of the imminent Fed rate cut. On the other hand, yen pairs are experiencing higher volatility [..]

Technical Analysis – USDJPY lacks direction, looks to US CPI

Posted on September 10, 2024 at 10:26 am GMT

USDJPY hovers around 20-period moving average (SMA) Some upside momentum still present Next move will likely depend on US CPI report USDJPY is consolidating around its 20-period SMA after the rebound from the one-month low of 141.76 quickly ran out of steam. The RSI is fluctuating right beneath the 50-neutral mark, but the MACD continues to rise above its red signal line in the negative territory. If the bulls manage to regain control, there’s likely to be a tough battle [..]

Could US CPI tip the balance in favour of a 50bps Fed rate cut? – Preview

Posted on September 9, 2024 at 9:40 am GMT

Market is digesting last week’s US labour market data The August CPI report could fuel 50bps rate cut expectations Dollar weakness could continue if inflation surprises to the downside The US inflation report will be published at 12:30 GMT on Wednesday Markets are preparing for the first Fed rate cut At the recent Jackson Hole Symposium, Fed Chairman Powell indirectly pre-announced the September 18 rate cut and highlighted the importance of the labour market in the current decision process. As [..]

Daily Comment – Dollar and equities rebound from NFP-led losses as focus turns to US CPI

Posted on September 9, 2024 at 9:22 am GMT

US jobs report adds to slowdown fears but provides no clarity about Fed policy Dollar whipsaws while stocks tumble as ‘September effect’ takes hold But risk sentiment improves ahead of US CPI report and ECB decision Signs of optimism after NFP bloodbath Markets began the second week of September in a somewhat more upbeat mood as US slowdown jitters were put on hold even as inflation data out of China pointed to persistently weak demand in the world’s second-largest economy. [..]

Weekly Technical Outlook – EURUSD, USDJPY, GBPUSD

Posted on September 9, 2024 at 8:41 am GMT

ECB’s rate cut is expected with EURUSD staying below 1.1200 US CPI data may be another sign before Fed’s decision GBPUSD may plunge further if UK employment data disappoint ECB interest rate decision –> EURUSD Several important economic data releases and events may affect market sentiment in the next few days, following a gloomy week. The focus will be on the European Central Bank’s (ECB) rate decision on Thursday, as the bank is expected to decrease interest rates for the second time this [..]

Week Ahead – ECB poised to cut again, US CPI to get final say on size of Fed cut

Posted on September 6, 2024 at 11:25 am GMT

ECB is expected to ease again, but will it be another ‘hawkish cut’? US CPI report will be the last inflation update before September FOMC UK monthly data flurry begins with employment and GDP numbers ECB to cut rates for second time The European Central Bank’s carefully choreographed rate-cutting cycle got off to an awkward start in June after last-minute data upsets. For credibility’s sake, policymakers had only one choice – press ahead with the planned 25-basis-point rate reduction but [..]

Daily Comment – Investors lock gaze on NFP data

Posted on September 6, 2024 at 8:35 am GMT

Dollar slides as data offer little respite to concerned investors NFP to accelerate somewhat, but PMI surveys pose downside risks S&P 500 and Dow Jones end in red ahead of the job numbers Gold rebounds, approaches record high; oil stabilizes Data fail to alleviate investors’ worries The dollar traded lower against all of its major counterparts on Thursday as the boost received by the better-than-expected initial jobless claims and the improving ISM non-manufacturing PMI faded. The reason why traders were [..]

Quick Brief – US ADP numbers surprise to the downside

Posted on September 5, 2024 at 1:34 pm GMT

ADP employment prints at 99k, missing expectations Odds of 50bps Fed rate cut rise again USDJPY declines considerably The US ADP employment data published today revealed a lower-than-expected rise in private sector jobs; it rose to 99k from a revised 111k previously and is below the forecast of 145k. This reading is the lowest since 2021 and could have major implications for the dollar, the stock market and the Federal Reserve’s possible rate decision. Lower ADP data points to a cooling labor market, which could weigh on equities as investors reevaluate the earnings outlook. The [..]

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