All Articles Tagged - USDJPY

Can the US economy avoid recession? – Special Report

Posted on June 8, 2022 at 12:02 pm GMT

The American economy is losing power. The housing market has started to show cracks and businesses are warning they might fire workers as they attempt to defend profit margins. Quite frankly, history suggests that avoiding a recession would be a miracle. The good news is that recession doesn’t always mean Armageddon – it could be mild instead. In this piece, we examine the potential effects in the FX market. Slowing down Storm clouds are gathering over the world’s largest economy. [..]

Daily Market Comment – Choppy trading in build up to US CPI, central bank bonanza

Posted on June 8, 2022 at 9:23 am GMT

Wall Street closes up but futures slip amid wavering sentiment Dollar maintains upward crawl as inflation and growth worries persist Yen keeps sinking, loonie outperforms as tight oil supply boosts prices Stocks lack direction but bargain hunters lurk Bargain hunters drove Wall Street higher on Tuesday, piling into defensive tech stocks and energy shares. The S&P 500 and Nasdaq Composite both closed up about 1%, but the Dow Jones lagged slightly. Retailers weighed on Wall Street after the department store [..]

Technical Analysis – USDJPY skyrockets to new 20-year high above 133.00

Posted on June 8, 2022 at 7:50 am GMT

USDJPY is flying towards a fresh 20-year high around 133.30, continuing the strong buying interest that started after the bounce off the 126.30 barrier. The 20- and 40-day simple moving averages (SMAs) failed to post a bearish crossover, changing their direction to the upside. The RSI indicator entered the overbought region, while the MACD is extending its bullish movement above its trigger and zero lines. Traders would be more willing to continue the bullish rally and if there is a [..]

US CPI awaited for final clues on inflation peak before next Fed meeting – Forex News Preview

Posted on June 7, 2022 at 2:51 pm GMT

The May consumer price index will bring some much-needed excitement for traders on Friday (13:30 GMT) in an otherwise light week for US economic releases. With investors desperately seeking clues that inflation has peaked in America, the data could prove pivotal for Fed policymakers, who meet on June 14-15 for their next rate setting decision. The US dollar has been consolidating lately, unable to establish a clear direction amid some uncertainty about the Fed’s rate path beyond the July meeting. [..]

Technical Analysis – USDJPY unlocks fresh 20-year high at 133.00

Posted on June 7, 2022 at 12:56 pm GMT

USDJPY is skyrocketing to a fresh 20-year high around 133.00, following the bounce off the 126.30 support level. The RSI indicator is jumping towards the overbought region, while the MACD oscillator is extending its positive momentum above its trigger and zero lines. In trend indicators, the 20- and 40-day simple moving averages (SMAs) failed to complete a bearish crossover and started an upward movement again. Traders, however, would be more eager to engage in buying activities if the price manages to have [..]

Daily Market Comment – Dollar edges up as yields spike, yen sinks, stocks come under pressure

Posted on June 7, 2022 at 9:07 am GMT

Bond selloff gathers steam ahead of large Treasury auction, pushing yields higher Surprise big rate hike by RBA adds to jitters about rising borrowing costs, stocks slip Dollar climbs as yen tumbles, pound plunges too as Johnson’s woes not over Fresh bond rout rattles markets Bond yields surged on Tuesday as investors fretted about how far central banks will go to contain inflationary pressures that are rampaging around the world. US Treasury yields edged lower for most of May as [..]

Technical Analysis – USDJPY remains positive below 1-month high of 131.00

Posted on June 6, 2022 at 9:01 am GMT

USDJPY pulled back from the one-month top of 131.00, that was posted in the preceding week but the outlook remains strongly positive. The MACD oscillator is trying to cross above its trigger line in the positive region, while the RSI is pointing north in the overbought region, suggesting that the bullish action has more room to improve. If there is a successful climb beyond the 131.00 psychological mark, then the pair would need a sustainable move towards 131.35 and then until the next resistance at [..]

Daily Market Comment – Strong NFP report dampens Fed pause hopes

Posted on June 6, 2022 at 8:50 am GMT

US economy still churning out jobs but Fed may have to keep hiking by 50 bps Stocks rebound after NFP-led dip as yields advance only marginally Euro slightly firmer ahead of ECB, pound shrugs off Johnson confidence vote Strong NFP: a case of glass half full? America’s roaring labour market added a stronger-than-expected 390k jobs in May, while the unemployment rate held steady at 3.6% even as the labour force participation rate improved slightly. The upbeat numbers dashed hopes that [..]

Week Ahead – ECB and RBA meetings: playing catchup

Posted on June 3, 2022 at 12:29 pm GMT

The European Central Bank is set to flag its first rate hike in more than a decade this week, while the Reserve Bank of Australia might step on the brakes harder. But as the laggards of the central bank world finally get their stakes on when it comes to tightening policy, investors will be on the lookout for more evidence that inflation may already be peaking in the United States. China’s economy will be in the spotlight too as trade [..]

US Open Note – Dollar continues the sell-off after ADP and ahead of NFP; oil erases losses

Posted on June 2, 2022 at 12:43 pm GMT

ADP dissapoints; NFP comes out tomorrow After the disappointing release of the ADP report which announced 128K workers versus 300K that was expected, the dollar is still trading lower. After two days in a row of gains, the dollar index retraced to a low of 102.12. As dollar/yen traded over 130 for the first time since the middle of May, the trend of the yen weakening has re-established itself. Sterling is holding above $1.25, within the short-term moving averages. Yesterday, Bullard stated that the path that the Fed [..]

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