All Articles Tagged - USDJPY

Daily Market Comment – Dollar steady ahead of US retail sales, Fed minutes as stocks stay buoyant

Posted on August 17, 2022 at 8:50 am GMT

US retail giants lift recession gloom, as Dow Jones and S&P 500 extend gains But FX market focused on US data and Fed minutes, dollar stays firm Pound and kiwi reverse gains from UK inflation surprise and hawkish RBNZ Stocks stay on the bright side Equity traders continue to shrug off persisting recession worries, choosing to bet instead that a severe downturn will be avoided, at least when it comes to earnings. Walmart and Home Depot were the latest to [..]

Technical Analysis – USDJPY climbs closer to a key resistance zone

Posted on August 16, 2022 at 3:12 pm GMT

USDJPY has been in a recovery mode since yesterday when it hit support at 132.55. The advance took the pair above the high of August 12, at 133.85, thereby confirming a short-term forthcoming higher high on the 4-hour chart. That said, the move signaling that the bulls have gained full control may be a break above the key resistance zone of 135.30/55. Turning our gaze to our short-term oscillators, we see that the RSI lies above 50, but it has [..]

Daily Market Comment – Oil sinks, dollar surges as growth fears return but stocks keep partying

Posted on August 16, 2022 at 9:03 am GMT

Dismal data out of China and the US stifle risk appetite as recession risks return But Wall Street immune to the doom and gloom as tech stocks rally Dimming outlook weighs on commodities as oil hits 6½-month low Dollar powers ahead on fresh growth scare The month-long risk rally suffered a major setback on Monday after economic indicators out of the world’s two biggest economies did anything but shore up confidence in the growth outlook, reviving fears about a [..]

Week Ahead – A plethora of data, an RBNZ meeting, but focus on Fed minutes

Posted on August 12, 2022 at 12:05 pm GMT

There will be no shortage of data releases in the coming week and the RBNZ is poised to hike rates again. But with investors still undecided about the implications of the latest US inflation report on Fed policy, the FOMC minutes might steal the limelight. Meanwhile, thinning liquidity as more traders head for their holiday destinations increases the likelihood of big knee-jerk reactions as markets obsess about the pace of monetary tightening and the risks of a recession. RBNZ leading [..]

Is China headed for a Lehman-style crisis? – Special Report

Posted on August 12, 2022 at 11:58 am GMT

The Chinese economic miracle seems to have turned into a nightmare lately. With a property sector in collapse and an overleveraged banking system as global interest rates move higher at the speed of light, there is a clear risk that China might suffer a 2008 moment that infects the entire global financial system. How high is that risk and which markets would be impacted the most? Property boom A seismic shift is underway in China. The past couple of decades [..]

Daily Market Comment – Inflation slowdown knocks US dollar, sends stocks flying

Posted on August 11, 2022 at 8:29 am GMT

US inflation slows by more than expected, traders unwind rate hike bets Dollar retreats, stock markets party, but bonds and gold not buying it Disney reports decent earnings, producer price data coming up next Cooling down Expectations that inflation in America may have peaked already went into overdrive yesterday following a cooler-than-expected CPI reading. Consumer prices were flat in July from the previous month, with declines in energy products and used cars neutralizing increases in food and rents. A sense [..]

Technical Analysis – USDJPY reverses post-NFP gains after inflation miss

Posted on August 10, 2022 at 2:00 pm GMT

USDJPY erased a large part of Friday’s post NFP bounce on Wednesday after the US CPI inflation arrived weaker than expected, with the price pulling below the constraining 50-day simple moving average (SMA) at 135.20 to a low of 132.67. The bearish correction pressed the RSI below its 50 neutral mark and the MACD slightly beneath its red signal line in the negative area, raising the odds for additional declines. That said, the bears will need another victory near the 132.50 [..]

Τechnical Analysis – USDJPY resumes rebound but 50-day SMA caps advance

Posted on August 10, 2022 at 8:05 am GMT

USDJPY has been gaining some ground in the short-term after its latest decline came to a halt at the 130.40 region. However, the recent price recovery has been repeatedly held down by the ascending 50-day simple moving average (SMA). The momentum indicators suggest that near-term risks are tilted to the upside. Specifically, the stochastic oscillator is flatlining in its 80-overbought area, while the MACD histogram has jumped above its red signal line but remains in negative territory. Should positive momentum strengthen [..]

US inflation: Is the elusive peak finally here? – Forex News Preview

Posted on August 9, 2022 at 10:23 am GMT

Following last week’s blistering jobs report out of the United States, investors will be turning their attention to Wednesday’s July inflation figures as bets of a 75-basis-point rate hike in September are back on. However, this time round, the CPI data, due at 12:30 GMT, might break with recent tradition and point to some cooling of price pressures. But what would a soft inflation report mean for the Federal Reserve? The US dollar’s post-NFP bounce back could be undone if [..]

Technical Analysis – USDJPY remains supported after post-NFP bounce

Posted on August 8, 2022 at 10:25 am GMT

USDJPY jumped on the back of a stronger-than-expected US nonfarm payrolls report on Friday, piercing aggressively the constraining 50-period simple moving average (SMA) on the four-hour chart to top at 135.57. From a technical perspective, optimism is still intact as the quick ascent has sent the price slightly above the Ichimoku cloud, while the RSI and the MACD have also bounced back into the bullish area. That said, some caution is warranted given the negative slope in the stochastics, as [..]

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