All Articles Tagged - USDJPY

Market Comment – Equities climb despite Jackson Hole’s higher for longer warning

Posted on August 28, 2023 at 9:20 am GMT

Rate hike odds edge up after Powell and Lagarde signal inflation fight not over But dollar steady as yields barely budge, Wall Street closes higher China announces more stimulus, stocks jump before paring gains Powell strikes a balanced tone Markets were still digesting Powell’s Jackson Hole speech on Monday amid a mixture of relief and trepidation after the Fed chief struck a mostly balanced tone on the rate outlook with a slightly hawkish tint. As had been widely anticipated, Powell’s [..]

Technical Analysis – USDJPY bulls reclaim control from slightly below 145.10

Posted on August 25, 2023 at 12:15 pm GMT

USDJPY got picked up by the bulls again from slightly below the 145.10 barrier, marked by the peak of June 30. Overall, the pair remains in an uptrend mode, well above all three of the plotted exponential moving averages (EMAs) and the uptrend line drawn from the low of March 24. This keeps the technical picture overly positive but getting closer to the 150.00 region could heighten fears of a potential intervention by the Japanese authorities. The RSI and the MACD are both detecting [..]

Technical Analysis – Will USDJPY stage a new bearish cycle?

Posted on August 23, 2023 at 7:50 am GMT

USDJPY topped twice around the 146.40 barrier from last November, but a negative trend reversal cannot be warranted yet. The RSI has changed direction to the downside after peaking near its 70 overbought mark, while the MACD has slowed down in the positive area. Still, the latter has not crossed below its red signal line, while the Stochastic oscillator is poised for an upside reversal soon after retreating below its 80 overbought level, witnessing some persisting buying interest. Sellers might wait [..]

Jackson Hole symposium to shape dollar’s path – Preview

Posted on August 22, 2023 at 11:25 am GMT

The Fed’s annual economic symposium will kick off on Thursday, but the highlight will be Chairman Powell’s flagship speech on Friday. With US yields trading at their highest levels of this cycle, his signals on interest rates could either add fuel to this rally or trigger a correction, driving the dollar accordingly. Fed summer camp Once every year, Fed officials are joined by foreign central bankers and academics at their summer retreat in Jackson Hole for a symposium to discuss [..]

Market Comment – Dollar traders turn cautious ahead of Jackson Hole; PBOC bolsters yuan

Posted on August 22, 2023 at 8:02 am GMT

Dollar pulls back on cautious trading ahead of Jackson Hole 10-year Treasury yields extend rally to levels last seen in 2007 China’s central bank sets yuan mid-point higher than expected Nvidia lifts both Nasdaq and S&P 500 ahead of its earnings Dollar slides but yields keep surging; Jackson Hole awaited The US dollar traded lower against most of the other major currencies on Monday and remained on the back foot today. With no major catalyst behind the dollar’s setback, it [..]

Market Comment – Jackson Hole suspense keeps traders defensive

Posted on August 21, 2023 at 9:13 am GMT

Markets in a stalemate, waiting for Jackson Hole clarity All eyes on bond yields – will Powell disturb the waters? Dollar and gold stable, China rate cut fails to impress Quiet before the Fed storm? A fragile sense of calm has returned to global markets. From currencies to equities to commodities, most assets started the new trading week in relatively narrow ranges. Investors seem reluctant to adjust their portfolios ahead of what promises to be a stormy week, featuring the [..]

Week Ahead – All eyes on the Jackson Hole symposium

Posted on August 18, 2023 at 9:50 am GMT

It’s a light week in terms of economic data, with the most important releases being the business surveys from the major economies. But the true highlight will be the Fed’s annual economic symposium. With US yields on the verge of a breakout, Chairman Powell’s signals about the path of interest rates will be absolutely crucial for the dollar. Will Powell tread lightly? Once per year, FOMC officials gather at their summer retreat in Jackson Hole, Wyoming for a symposium to [..]

Market Comment – Global stock rout deepens amid China gloom, jump in yields

Posted on August 18, 2023 at 9:33 am GMT

Stocks extend slump as China fears intensify, yields scale fresh highs Dollar on a winning streak as Wall Street heads for third weekly loss Markets eye more China rate cuts and Jackson Hole for Fed clues More pain for risk assets The rout in global stock markets shows no signs of ending on Friday even as the surge in bond yields has eased off a little. It’s been a torrid week for equities, which have been hammered by a tale [..]

Performance of key market instruments when the 10-year US yield rises above 4% – Special Report

Posted on August 18, 2023 at 7:58 am GMT

August is traditionally seen as a quiet month, but once again significant developments are taking place globally. In particular, the 10-year US yield has climbed decisively above the 4% threshold as market participants are scrambling to explain this move amidst a low liquidity environment. A quick look at market history could give us some valuable insight as to what the future holds for euro-dollar and other key market instruments. Significant developments everywhere The market has once again proven that it [..]

Market Comment – Dollar shines as yields shoot up, gold and yen suffer

Posted on August 17, 2023 at 8:38 am GMT

Yields approach new cycle highs, boosting US dollar Gold and stock markets absorb collateral damage Yen meltdown continues; how likely is intervention? Bond rout spills over The havoc in bond markets has started to spread into other asset classes. Yields on 10-year US Treasuries continue their relentless rally and are currently just a shade away from reaching new highs for this cycle. In turn, this has kneecapped riskier trades, which mechanically become less attractive as the risk-free interest rate rises. [..]

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