All Articles Tagged - USDJPY

US Open Note – Pound crashes on dovish rate hike; Wall Street eyes bearish open

Posted on May 5, 2022 at 1:32 pm GMT

Pound crashes after BoE policy decision The Bank of England stuck to its March guidance, confirming expectations of a 25bps rate hike to 1.0% on Thursday although three out of nine board members surprisingly voted for a sharper 50bps increase. Its inflation projections for the current year moved up to 10% on the back of higher household energy prices and projected additional rises in October, while its growth estimate is now warning a dip slowdown over the next year as [..]

Technical Analysis – USDJPY indecisive ahead of FOMC policy decision

Posted on May 4, 2022 at 2:19 pm GMT

USDJPY has barely been moving so far this week ahead of the FOMC policy announcement, facing strong rejection around the 130.20 barrier. Although the pair remains close to its recent 20-year top of 131.24, the possibility for a downside correction is technically growing larger as the RSI and the MACD trend southwards, with the former set to exit the overbought territory and the latter gradually sliding below its red signal line. Nevertheless, how meaningful any pullback could be is still a [..]

US Open Note – Stock futures flicker green and dollar flat ahead of Fed meeting

Posted on May 4, 2022 at 1:18 pm GMT

Fed tone eyed to rekindle volatility, as US ISM Services PMI draw prior focus US stock futures have stopped the bleeding, looking composed, as market jitters keep volatility subdued ahead of today’s Federal Reserve decision. The dollar index is hovering around its March 2020 highs, flirting with the 103.00 level, underpinned by elevated US Treasury yields and lingering risk-off pressures. The 10-year yield is at 2.96%, the 5-year at 3.01% and the 2-year at 2.79%. The Fed is expected to [..]

Daily Market Comment – Dollar shines, gold slides as real yields turn positive

Posted on May 3, 2022 at 9:07 am GMT

Real yields turn positive ahead of Fed, boosting dollar but bruising gold Stock markets stage comeback, battered tech shares lead the charge RBA raises interest rates, aussie jumps despite Chinese slowdown Real yields matter The Fed’s wish to tighten financial conditions has come true just in time for tomorrow’s policy meeting. In a sharp move, ten-year US real yields clawed their way into positive territory yesterday, resurrecting bonds as an asset class and dealing a devastating blow to the long-standing [..]

US Open Note – Falling dollar breathes life into the euro; Wall Street in the red

Posted on April 29, 2022 at 1:50 pm GMT

3Dollar loses steam but is still the king The king dollar cooled off against a basket of six major currencies in the last trading day of April, having previously rapidly advanced to a two-decade high of 103.93 on the back of persisting calls for higher interest rates in the US and Ukraine-related economic risks in Europe. Still, a fourth consecutive weekly gain is more than secured for the greenback ahead of a busy week of central bank meetings and data [..]

Technical Analysis – USDJPY posts some losses below 20-year high

Posted on April 29, 2022 at 10:58 am GMT

USDJPY is retreating today after the surge towards a fresh 20-year high of 131.24 on Thursday. The price is completing the eighth consecutive green week, continuing the sharp buying interest in the medium-term. However, in the short-term, the technical indicators are signalling an overbought market. The RSI is pointing down above the 70 level, while the stochastic oscillator is approaching the 80 line after the bullish crossover within its %K and %D lines. A decisive close above the multi-year high [..]

Daily Market Comment – Dollar cools off, Amazon tanks after earnings

Posted on April 29, 2022 at 9:13 am GMT

Dollar set to close month on a strong note, braces for Fed meeting Euro and yen lick their wounds, gold stages a comeback Stock markets roar back but Amazon disappointment spoils the party Dollar unscathed by GDP miss The world’s reserve currency took a small step back on Friday, pausing for breath after it obliterated everything in its path this month, having gained 7% against the Japanese yen and 4.5% against the euro. Expectations that the Fed is about to [..]

US Open Note – Dollar index surges to 20-year high; Yen still plunging

Posted on April 28, 2022 at 1:15 pm GMT

BoJ maintains dovish stance The Bank of Japan (BoJ), announced a continuation of its ultra-low yield policy earlier today, catapulting the dollar beyond the psychological threshold of 130.00 yen, to the highest level since 2002, hitting the 131.00 round number. The euro, meanwhile, dipped below another important handle of $1.05. The dollar index is extending its movement towards a 20-year high of 103.92. US stocks futures are suggesting a second positive day in a row for the S&P 500 ahead of the earnings results by Apple and Amazon after the closing bell today. There had been considerable market speculation that the [..]

Daily Market Comment – Yen takes another dive as US dollar rally goes into overdrive

Posted on April 28, 2022 at 8:31 am GMT

US dollar charges even higher, stampedes over all major currencies Yen collapses after BoJ meeting, euro in agony amid energy crisis Facebook earnings cheer up stocks, Apple and Amazon next in line Dollar rampage, euro carnage The relentless rally in the US dollar has left a trail of destruction across the FX market, with every other major currency suffering serious collateral damage. This trend reflects both solid US economic fundamentals and the storm clouds gathering over other regions, where a [..]

US Open Note – No mercy for the euro; BoJ policy decision, Meta earnings next in focus

Posted on April 27, 2022 at 2:15 pm GMT

Euro plummets as Russian gas issues resurface There was no mercy for the depressed euro during the late European trading hours on Wednesday. The already squeezed common currency sank to the lowest point since April 2017 against the US dollar, remaining the worst performer across the board as Russia’s state-owned multinational gas supplier Gazprom completely halted supplies to NATO members Poland and Bulgaria because of non-payments in roubles. Of course, the EU’s powerhouse Germany, which gets 40% of its gas [..]

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