USDJPY

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Daily Market Comment – Dollar jumps on solid NFP; markets brace for huge week

Posted on December 9, 2019 at 9:21 am GMT

Greenback and stocks cheer after blockbuster jobs report, but yen tells a different story Loonie nosedives on weak employment data, despite higher oil prices Calendar is low key today, but week is packed: Fed, ECB, UK election, tariff decision Dollar shoots higher as nonfarm payrolls smash expectations It was all about the US employment data on Friday, which easily beat forecasts. Nonfarm payrolls clocked in at 266k, much higher than the expected 180k, with last month’s print also revised up. [..]

Week ahead – Fed and ECB meetings to serve as appetizers for UK election

Posted on December 6, 2019 at 1:58 pm GMT

The main event will be the UK general election on Thursday, which could decide what form Brexit takes and shape the pound’s fortunes for months. Central bank meetings will serve as a prelude. The Fed is set to keep rates unchanged, and may reinforce the message that it will remain on hold for a while. The ECB will hold its first gathering under the leadership of Christine Lagarde, but is unlikely to provide any fireworks. Instead, trade news could dominate, [..]

Daily Market Comment – US employment data to dictate mood; OPEC can’t lift oil

Posted on December 6, 2019 at 9:08 am GMT

Spotlight falls on the US jobs report today; risks around dollar asymmetric Is European fiscal stimulus not a pipe dream after all? OPEC pledges deeper production cuts, but oil doesn’t ‘buy it’ In Britain, Boris Johnson debates Jeremy Corbyn for the final time Nonfarm payrolls: Mind the asymmetry The main event today will be the US employment report for November, due at 13:30 GMT. Forecasts point to another solid data set, with nonfarm payrolls (NFP) expected to clock in at [..]

Technical Analysis – USDJPY’s positive picture takes a breather

Posted on December 5, 2019 at 10:16 am GMT

USDJPY, despite the recent fading in the pair, continues to find support from the 50-day simple moving average (SMA) and the 108.42 level, which is the 50.0% Fibonacci retracement of the down leg from 112.39 to 104.45. The intact positive picture looks to be easing into a more sideways outlook, something also backed by the convergence within the SMAs. The short-term oscillators reflect a stalling in directional momentum with the RSI flat at the 50 level, while the MACD, in [..]

Daily Market Comment – Markets climb on hopes Trump is bluffing; pound soars

Posted on December 5, 2019 at 9:33 am GMT

Risk appetite returns on reports suggesting Trump was just posturing on trade Pound surges as election polls show Tories consolidating their lead Loonie climbs on less-dovish BoC signals, looks to OPEC meeting Optimistic trade headlines breathe life back into riskier assets US stock markets snapped a three-day losing spell on Wednesday, with the S&P 500 gaining 0.63% on the back of a report claiming that American and Chinese negotiators are “moving closer” to agreeing the amount of tariffs that would [..]

Daily Market Comment – Markets rattled as Trump says “no deadline” for trade deal; gold jumps

Posted on December 4, 2019 at 9:29 am GMT

Risk mood darkens after Trump hints he’s in no hurry to sign trade deal with China US bill on China’s treatment of Muslim minorities further raises tensions between the two countries Safe havens soar as stocks and Treasury yields slide US ISM non-manufacturing PMI awaited; BoC decision eyed too Trump sends markets spinning as trade deal hopes fade Risk sentiment was dealt another blow on Tuesday after US President Donald Trump dampened hopes of an early resolution to the long-running [..]

Daily Market Comment – Dollar sinks on Trump tariffs and poor ISM PMI

Posted on December 3, 2019 at 8:57 am GMT

Trump expands trade war by imposing tariffs on South American metal imports Renewed trade frictions and unexpectedly weak ISM manufacturing PMI dampen sentiment Stocks turn negative; dollar plunge lifts euro Aussie jumps as RBA remains in wait-and-see mode; kiwi rallies too Trump ratchets up trade war by announcing tariffs on metal imports The long-running trade war took another twist yesterday after President Trump shocked markets by announcing tariffs on aluminium and steel imports from Brazil and Argentina. Citing the “massive [..]

Daily Market Comment – Yen skids on upbeat China data even as trade deal faces delay

Posted on December 2, 2019 at 9:16 am GMT

Markets in risk-on mood on better-than-expected Chinese manufacturing PMIs Still plenty of caution though, as US and China struggle to conclude ‘phase one’ deal Pound slips as Tories’ poll lead narrows further Oil bounces back after Iraq says deeper cuts to be discussed at OPEC+ meeting Sentiment lifted by rebound in Chinese factory activity December got off to a positive start after data over the weekend and on Monday showed manufacturing output in China unexpectedly rose in November. China’s official [..]

Week Ahead – US jobs report could further bolster dollar; RBA and BoC meetings eyed

Posted on November 29, 2019 at 10:51 am GMT

Central bank meetings and the US jobs report will kick off the final month of 2019 next week, energising the markets as many traders return from the Thanksgiving break in the United States. The nonfarm payrolls report will of course be the main highlight as a positive print there could further add to the improving picture for the US economy, fuelling the dollar. But the ISM manufacturing and non-manufacturing PMIs will also be key in directing the greenback in the [..]

Daily Market Comment – All quiet on the currency front, but key data could spice things up

Posted on November 29, 2019 at 9:24 am GMT

Currencies trade in narrow ranges without news – pound retreats a little    Euro area inflation data today may disappoint, spelling more pain for euro Is OPEC ‘managing’ market expectations ahead of next week’s meeting? British pound the sole mover in quiet markets It was a very uneventful session across financial markets, with little to speak of in terms of news and with most currencies trading in awfully tight ranges as American traders stayed home for Thanksgiving. A notable exception [..]

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