All Articles Tagged - USDJPY

Daily Market Comment – Risk rally fades on manufacturing slump but markets stay calm

Posted on July 4, 2023 at 9:26 am GMT

Drop in ISM manufacturing PMI rounds up malaise in global factory activity Dollar and stocks steady as Fed rate path little changed, all eyes on NFP report Aussie falls then bounces after RBA holds rates; oil prices whipsaw on OPEC+ cut Weak manufacturing PMIs dampen mood Markets were generally trading sideways on Tuesday as investors pondered central banks’ next moves amid conflicting signals from the latest data and a bank holiday in the United States. Trading in July initially got [..]

Weekly Technical Analysis – USDJPY, AUDUSD, Gold

Posted on July 3, 2023 at 2:07 pm GMT

We expect the start of the week to be quiet in the US as traders enjoy a long weekend, celebrating the July 4th Independence Day with fanfare and fireworks. The week ahead, however, could put markets back on the central bank watch as a bulk of employment data, including Friday’s all important nonfarm payrolls, could influence the Fed’s next rate decision. Monday’s ISM manufacturing PMI figures will not be ignored either despite the holiday mood. Elsewhere, the Reserve Bank of [..]

Daily Market Comment – Stocks roar higher as US inflation cools slightly, optimism rises

Posted on July 3, 2023 at 9:15 am GMT

Tech stocks lead Wall Street higher in strong first half as PCE inflation eases Growth optimism outweighs Fed rate hike bets as Asia rallies too But dollar bounces off lows ahead of ISM PMIs, jobs report Recession fears ease further after soft core PCE US stocks continue to defy gravity, shrugging off concerns about more Fed rate increases and an uncertain economic outlook to notch up solid gains for the first half of 2023. The S&P 500 just had its [..]

Week Ahead – Will US nonfarm payrolls and RBA decision rock the boat?

Posted on June 30, 2023 at 11:44 am GMT

Markets have been left somewhat bruised from a fresh round of hawkish gunfire from central bank chiefs, so nerves are running high ahead of the June jobs report out of America. The ISM PMIs and the Fed meeting minutes are also expected to send speculation about a July rate hike into overdrive. However, Australia’s Reserve Bank might decide against raising interest rates thrice in a row. The yen, meanwhile, will be hoping that Japanese data will provide some relief from [..]

Daily Market Comment – Yen hits the FX intervention ‘danger zone’

Posted on June 30, 2023 at 8:31 am GMT

Dollar gains ground on solid GDP data, awaits more releases today Yen receives more intervention threats – are markets sleeping on a BoJ shift? Eurozone inflation data coming up, gold drifts, stocks keep winning Dollar rides Fed bets Global markets are set to close the second quarter on a cheerful note, with risk assets flying high and safe haven instruments losing their shine, as a stream of encouraging data releases increasingly convinced investors to unwind bearish bets. Recession concerns have [..]

Daily Market Comment – Powell wakes up dollar bulls, Ueda hurts the wounded yen

Posted on June 29, 2023 at 8:21 am GMT

Dollar gains as Powell hints at more than one additional hike BoJ’s Ueda says there is “distance to go” before shifting policy S&P 500 and Dow Jones slide on Powell’s comments Powell sounds hawkish enough to encourage dollar buying At a panel discussion between the heads of the ECB, Fed, BoE and BoJ, ECB President Lagarde cemented expectations for a July hike, but what caught investors’ attention were hawkish comments by Fed Chair Powell. This time, the Fed Chief sounded [..]

Technical Analysis – USDJPY unlocks new 7-month high

Posted on June 28, 2023 at 8:24 am GMT

USDJPY continues to build its uptrend comfortably above its exponential moving averages (EMAs), closing on Tuesday near a fresh seven-month high of 144.16. The next obstacle could be the 145.00-145.40 area, with the RSI and the stochastic oscillator suggesting that some congestion could emerge in this neighborhood as the price seems to be trading within overbought waters. Interestingly, the extension of the March resistance line is positioned in the same territory. Therefore, a decisive step higher is expected to boost buying [..]

Daily Market Comment – Euro rebounds on hawkish ECB rhetoric, yen extends slide

Posted on June 28, 2023 at 8:11 am GMT

Euro rebounds as ECB officials appear in hawkish suits Yen extends slide, despite new intervention warnings Loonie and aussie slide on lower-than-expected CPI data Wall Street gains on upbeat US data ECB hawkish rhetoric boosts the euro The US dollar traded lower against most of the other major currencies on Tuesday, losing the most ground against the euro and gaining only against the Japanese yen and the Canadian dollar. The euro rebounded strongly after ECB policymakers appeared at the central [..]

Daily Market Comment – Yen takes another knock, tech rally cools off

Posted on June 27, 2023 at 8:27 am GMT

Yen gets hit by another selling wave, retests its multi-year lows Dollar slightly softer ahead of US releases, euro capitalizes Tech stocks encounter some profit-taking, ECB forum begins Japanese yen can’t catch a break It was a relatively quiet trading session in the FX complex on Monday. Investors appeared reluctant to make any big moves with geopolitical tensions simmering, preferring to bide their time until the dust around Russia’s coup attempt settles. Defensive assets such as gold and bonds attracted [..]

Technical Analysis – USDJPY rally could be on its last legs

Posted on June 26, 2023 at 1:46 pm GMT

USDJPY is moving sideways today, but last week it managed to reach a new 2023 high of 143.86. This pair has been on an upward path, and it is currently 12.5% higher than the 2023 low of 127.21. In fact, USDJPY has been continuously trading around the upper boundary of the Bollinger band, confirming the very aggressive pace of the current upleg. With the Average Directional Movement Index (ADX) reaching its highest level since the October 2022 rally, the bulls [..]

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