Quick Look: USD Resilience: The US Dollar advanced despite post-Fed retracement and risk-off sentiment, highlighting its safe-haven status. EUR/USD Decline: The Euro fell below 1.0800 against the USD, driven by risk aversion rather than euro-specific data. GBP/USD Low: The British Pound hit four-week lows despite a BoE rate cut, with future rate cuts uncertain. USD/JPY …
USD Strengthens Despite Market Jitters on August 2 Read More »
Quick Look: Federal Reserve hints at potential rate cuts, leading to higher opportunity costs for holding the US dollar. The euro has risen 2.1% against the dollar, marking gains in 13 of the last 15 trading days. The British pound approaches $1.30, benefiting from positive UK economic indicators and a weakening dollar. The forex market …
Forex Market Shifts: Dollar Declines, Euro Up 2.1% Read More »
Quick Look: The US Dollar Index (DXY) dipped below the December trend line to hover around 104.80, challenging dollar bulls. Reclaiming the 104.80 level could signal a bullish reversal, potentially targeting levels like 105.10. Despite the decline, the DXY remains above the crucial 104.00 support level, making short positions on the USD risky. A strong …
Quick Look: Atsushi Mimura replaces Masato Kanda as Japan’s top currency diplomat, shifting the strategy from heavy intervention to adaptive approaches. Mimura leverages favourable US economic data and market momentum, aligning interventions with prevailing trends. Public strategy knowledge may attract dip buyers, increasing risks for USD/JPY long positions during key US data releases. In a …
Japan’s New Currency Strategy: $60 Billion Intervention Shift Read More »
Quick Look: The USD Index (DXY) rose above 105.00, reflecting robust demand despite lower US yields, driven by upcoming testimonies from Fed officials. French snap elections and Jerome Powell’s congressional testimony are key events impacting investor sentiment and USD movements. EUR/USD reached a high of 1.0850 but fell back, highlighting the complex interplay between the …
Quick Look: USD/JPY dipped 0.03% to 160.77, staying near multi-year highs with a target of 161.00. Resistance at 161.00, 162.00, 164.87, and 178.00; support at 159.01, 158.75, 158.36, and 157.70. Japanese intervention has limited effect; traders remain bullish despite warnings. The USD/JPY pair experienced minimal losses, dipping slightly by 0.03% to close at 160.77. Despite …
Quick Look: Exchange Rate Levels: USD/JPY stands at 159.70, with key resistance at 160.32 and support at 158.42 and 155.60. Japanese Economic Policy: BOJ ends negative interest rate policy; possible intervention if the rate hits 160.00. US Economic Indicators: Robust PMI readings; Composite PMI hits 54.6, the highest since April 2022. The USD/JPY exchange rate …
Quick Look: USD/JPY reached 157.50 due to the US Federal Reserve’s hawkish stance. The US maintains high rates (5.25%-5.5%), while BoJ keeps rates at 0%. Possible rate cut in 2024; cautious approach until inflation goals are met. Potential reduction in bond purchases and rate hikes to address yen weakness. The USD/JPY pair has maintained a …
USD/JPY Rises to 157.50 Amid BoJ Diverging Policies Read More »
Quick Look: The pair trades mid-1.3700s, slightly down from recent highs, influenced by rising crude oil prices boosting CAD. The upcoming US CPI report and FOMC decision will significantly impact market direction and sentiment. The USD/CAD currency pair is trading in the mid-1.3700s, experiencing a slight retreat from a recent one-month high. Multiple factors have …
Quick Look: USD/JPY exchange rate closed at 110.933, down 0.31% due to geopolitical tensions and BOJ policy speculation. The Yen appreciated as investors sought safety amidst global uncertainties, notably the crisis in Turkey. Japan’s June household income rose by 4.4%, spending fell by 1.2%, and real wages grew by 2.8%. Internal BOJ discussions on yield …
Flight-to-Safety Drives Yen Up, USD/JPY Down 0.31% Read More »
Quick Look: USD/JPY shows potential to rebound around the 50-day SMA at 154.90, supported by differing Fed and BoJ policies. Significant levels include 154.90 (50-day SMA), 157.48 (weekly high), and 151.87 (May low). Fibonacci extensions are crucial markers. Japanese currency interventions and positive US economic indicators like ISM Services PMI and NFP data impact the …
Quick Look: Market Opening: USD/CAD opened at 1.3694 and closed at 1.3626, with WTI oil at $72.77 and gold at $2330.35. Oil Prices and the Loonie: Falling oil prices pressured the Canadian dollar despite initial support from OPEC’s production cuts. US Treasury Yields: A drop in the 10-year yield weakened the US dollar, impacting USD/CAD …
USD/CAD Closes at 1.3626 Amid Oil Drop and Yield Decline Read More »
Quick Look: Expected to rise by 12.2% in Q1 2024, JPY down from 16.4% in Q4 2023, indicating potential cost-saving measures by companies. Improved from 49.6 to 50.5 in May, showing slight demand improvement but unlikely to alter BOJ policy. Forecasted at 49.8 for May, reflecting a soft landing for the US economy with little …
USD/JPY Outlook: Q1 Capital Spending Falls to 12.2% Read More »
Quick Look: USD/JPY trading below 157.00 during Tuesday’s Pacific session, with a focus on central bank rates and key economic data. Japanese Tokyo CPI (Friday), US GDP (Thursday), US PCE inflation (Friday), US Consumer Confidence Index (Tuesday). Subdued market opening due to US Memorial Day; anticipation of Fed speeches; BoJ’s limited success in strengthening Yen. …
USD/JPY Below 157.00 Amid Key Economic Data Events Read More »
Quick Look: The USD has risen against the JPY, targeting 156.50 to above 160 yen. Higher US rates benefit USD; BoJ’s debt load likely keeps Japanese rates low. Watch BoJ commentary and Fed speakers on May 21 for future monetary policy clues. In recent trading sessions, the USD has slightly risen against the JPY, signalling …
USD/JPY Forecast: Yen Nears 156.50 Amid Rate Speculation Read More »
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