All Articles Tagged - USDJPY

Daily Market Comment – Stocks turn more cheery, dollar looks to Powell, US data for direction

Posted on May 17, 2022 at 9:14 am GMT

Hong Kong shares rally, lift Asia and Europe, as China gloom fades But Wall Street and dollar set sights on US retail sales and Powell’s inflation speech Pound gets surprise jobs boost, shrugs off Bailey’s apocalyptic warnings Easing crackdown worries lift China tech shares Stocks in Asia were bolstered on Tuesday on signs that Chinese policymakers are having a rethink about how they regulate the digital economy as a government advisory body held consultations with local tech executives. Chinese tech [..]

Japan may shrink, but will the yen follow? – Forex News Preview

Posted on May 17, 2022 at 8:53 am GMT

Despite its super accommodative monetary policy, Japan will probably join the group of economies that shrank in the first quarter of the year when Q1 GDP growth figures come out on Wednesday at 00:50 GMT. A slowdown in April’s exports on Thursday (00:50 GMT) and a huge inflation spike on Friday (00:30 GMT) may point to a discouraging start to the second quarter as well, further downgrading the outlook for the economy. That said, the bruised Japanese yen managed to [..]

Dollar consolidates ahead of US retail sales as rate hike bets stall – Forex News Preview

Posted on May 16, 2022 at 2:47 pm GMT

Retail sales will be in focus in the United States this week as the data out on Tuesday (12:30 GMT) is expected to show that American consumers have yet to be deterred by rising prices. Amid all the talk that the Federal Reserve’s aggressive tightening of monetary policy might tip the US economy into recession, a solid set of numbers could allay those fears, boosting the US dollar, which appears to be consolidating from last week’s 20-year high. Fed’s rate [..]

US Open Note – Dollar cools off, euro turns up and gold back to $1,800

Posted on May 16, 2022 at 12:53 pm GMT

Chinese data drives dollar higher In the wake of disappointing Chinese economic statistics, which sent the British pound and the Australian dollar down, the US dollar held onto its two-decade high earlier in the day. The surge in the dollar has been fuelled by China’s long-term economic lockdowns, which have contributed together with other uncertainties to an almost 10% rise in the dollar index since the beginning of 2022. In April, China’s retail and industrial activity declined substantially due to widespread Covid-19 lockdowns, which kept workers [..]

Daily Market Comment – China worries hit sentiment, equities wobble, dollar firms

Posted on May 16, 2022 at 9:30 am GMT

Markets get off to a shaky start after poor Chinese data as stocks slip But lockdown easing in Shanghai provides some relief Dollar mostly higher, euro edges up as hawkish noises from ECB continue Recession fears heightened after slump in China activity Fresh jitters about recessionary risks dented sentiment on Monday, weighing on stocks, oil and risky currencies, following some disappointing data out of China that greeted investors at the start of the week’s trading. Industrial production in the world’s [..]

Technical Analysis – USDJPY cools off as bullish pressure wanes

Posted on May 16, 2022 at 8:37 am GMT

USDJPY has been marching higher after its recent downtrend ceased at the 127.50 level. However, the pair’s advance has currently halted as positive momentum seems to be fading. The momentum indicators further confirm that the pair has been losing steam lately. The stochastic oscillator is sloping downwards after exiting the overbought area, while the RSI is flatlining beneath the 50-neutral mark. Should selling pressure intensify, the pair could encounter initial support at the recent low of 128.70. Diving beneath that [..]

Week Ahead – Data avalanche to keep spotlight on rate hike expectations

Posted on May 13, 2022 at 1:32 pm GMT

It’s going to be a full-on week for economic indicators with a barrage of data due that should keep the guessing game going on how much central banks will tighten this year. Australia and the UK report jobs numbers, the latter will also release CPI readings along with Canada and Japan. Retail sales will be watched in the UK and US, as well as in China, while the Q1 GDP estimate will be important in Japan. China slowdown fears will [..]

US Open Note – Fed Chair Powell alleviates doom and gloom in stock futures

Posted on May 13, 2022 at 1:27 pm GMT

Dollar steady while Treasury yields rise, risk appetite cautiously improves The Chief of the Federal Reserve Jerome Powell has managed to calm market concerns around rate hikes, reiterating that the Fed is prepared to act accordingly, depending on whether the economy performs as expected. Nonetheless, the worrying rhetoric linked to tightening monetary policy in these times we live in, continues to fan the flames of negative sentiment. Treasury yields rose with the 10-year yielding 2.91%, the 5-year 2.86% and the [..]

Technical Analysis – USDJPY fall below 20-day SMA; posts negative week

Posted on May 13, 2022 at 10:40 am GMT

USDJPY has been negative for the most part of the week despite the spike to a fresh 20-year high of 131.34. Technically, the price could lose some ground in the short-term as the stochastic oscillator is losing momentum and is approaching the oversold zone. However, the RSI is pointing upwards above the neutral threshold of 50. A fall below the 20-day simple moving average (SMA) may be a sign for negative corrections after the significant bullish rally in the previous weeks. [..]

US Open Note – Dollar unlocks 20-year high; euro breaks $1.04

Posted on May 12, 2022 at 12:57 pm GMT

Dollar surges but dips against yen The dollar touched a two-decade high against a basket of currencies after US inflation fell less than expected in April. Dollar/yen is declining by 1%, meeting the 129.40 level. Despite increasingly hawkish ECB rhetoric, the euro is trading below $1.0400, falling by 1.0%, with the next key support coming at $1.0340. Euro/yen and pound/yen are plummeting over 2% today. US stock futures are suggesting a strong negative open, continuing the several days of losses. The safe-haven greenback gained support from a worldwide equity sell-off because of investor concerns that central banks are behind the curve [..]

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