All Articles Tagged - USDJPY

Technical Analysis – USDJPY appears to gain some steam; back near 128.00

Posted on April 27, 2022 at 6:48 am GMT

USDJPY has lost its positive momentum after the impressive bullish rally towards the 20-year high of 129.40 on April 20, but today it is appearing positive again. In the short-term, the market could retain the negative momentum as the RSI dropped beneath the overbought region and the stochastic oscillator is approaching the oversold territory. Should the pair stretch south, the 20-day simple moving average (SMA) at 125.75 could provide immediate support before the pair touches the 125.10 barrier. A significant step lower could bring the [..]

Bank of Japan to defend yield curve control policy, but what about the yen? – Forex News Preview

Posted on April 26, 2022 at 2:49 pm GMT

The Bank of Japan concludes a two-day monetary policy meeting on Thursday and even though no changes are anticipated, its language on the exchange rate might prove decisive for the yen. As other central banks race to normalize policy amid the global spiral in inflation, the BoJ has stuck to its ultra-accommodative policy, stepping up its purchases of Japanese Government Bonds (JGBs) over the last month. But this has come at a cost as the yen has plunged to 20-year [..]

US Open Note – Market sentiment soft and dollar two steps ahead

Posted on April 26, 2022 at 1:47 pm GMT

Dollar remains sturdy despite retreat in US yields The key US stock indices have failed to retain their yesterday’s bounce and are aiming lower again as the resilient greenback manages to stay buoyant despite the fresh dwindling in US treasury yields. The US 10-year yield has eased to 2.77%, the 5-year yield to 2.80% and the 2-year yield to 2.56%. Even though markets have priced in an aggressive Fed and upcoming rate hike action for the United States, it seems [..]

Daily Market Comment – Dollar steamrolls FX rivals, earnings blitz begins

Posted on April 26, 2022 at 9:36 am GMT

US dollar goes on a rampage, hits new highs against euro and sterling China tries to slow yuan depreciation, Hong Kong dollar peg in trouble Gold gets knocked down, Microsoft and Google report earnings Dollar shines bright The US dollar continues to bulldoze its way through the FX complex, crushing everything in its path. With the Eurozone economy under pressure from soaring living costs, the broadening shutdowns in China dampening growth, and the Bank of Japan’s refusal to play the [..]

Daily Market Comment – Safe havens jump, stocks tank as China and inflation fears intensify

Posted on April 25, 2022 at 9:40 am GMT

Dollar stretches bull run, yen and bonds rise too as China races to contain Covid outbreak Aussie leads the FX losers, Macron victory limits euro’s losses Stocks and oil plunge, no safe-haven boost for gold China struggles with zero-Covid policy A worsening outbreak of Covid-19 in China dragged risk assets lower at the start of the new trading week as stocks extended Friday’s losses while the US dollar scaled a fresh two-year high against a basket of currencies. Restrictions in [..]

Week Ahead – Slowdown and inflation nerves to be tested in the US, Eurozone; BoJ meets

Posted on April 22, 2022 at 11:19 am GMT

A barrage of economic indicators out of Europe and America will put the spotlight on the euro and US dollar next week. The data could further reinforce the diverging paths of monetary policy between the Federal Reserve and European Central Bank. European traders will additionally be keeping a watch on the outcome of the French presidential election, while RBA policy could come under scrutiny too as Australia publishes quarterly CPI numbers. But it is the Bank of Japan that could [..]

Daily Market Comment – Powell reignites dollar bulls, sinks Wall Street

Posted on April 22, 2022 at 9:41 am GMT

Dollar regains the upper hand after Powell makes another hawkish shift Pound plummets on cautious Bailey, euro resumes downfall too Equites get knocked back as central bankers’ inflation alert pushes yields to new highs Powell backs 50-bps rate hike, dollar likes it Fed Chair Jerome Powell stole the limelight at the IMF’s spring meetings yesterday, as he reinforced expectations that the Federal Reserve will hike rates by 50 basis points when it meets in early May. Powell admitted that the [..]

US Open Note – Euro cheers on rate hike talk; stocks in the green as well

Posted on April 21, 2022 at 1:30 pm GMT

ECB’s rate hike talk intensifies It seems the European Central Bank (ECB) is prepping for the new reality of higher interest rates to fight inflation even though geopolitical developments around Ukraine keep clouding the Eurozone’s economic outlook. ECB’s Spanish Vice President Luis de Guindos endorsed yesterday’s hawkish talk from Latvian ECB governing council member Mārtiņš Kazāks, confidently approving the end of the regular APP bond purchases in July, while stating that from today’s perspective a rate hike in July, September and even [..]

Daily Market Comment – Euro perks up, fends off steadier dollar amid growing ECB rate hike talk

Posted on April 21, 2022 at 8:46 am GMT

Euro extends gains as ECB policymakers increasingly in favour of raising rates soon Dollar mixed despite higher Treasury yields; yen settles around 128 per dollar US and European stock futures edge up after Tesla earnings beat, China slips ECB rate hike chatter buoys euro The euro is gaining traction on Thursday, extending this week’s rebound to flirt with the $1.09 level, as investors ratchet up their bets that the European Central Bank is getting closer to hiking rates soon. Several [..]

US Open Note – Wall Street opens higher; commodity currencies outperform

Posted on April 20, 2022 at 2:02 pm GMT

Global stocks cautiously up Wall Street started Wednesday’s session on the bullish side, with Dow Jones gaining the biggest traction. Buying interest, however, remains relatively constraint as questions about how the cocktail of inflation and monetary tightening will affect global economic growth weigh on risk-on sentiment. Growth risks are larger in Europe, which has stronger trade ties with Russia and Ukraine than does the US, though the rapid rise in consumer prices is calling for a stimulus reduction, keeping the [..]

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