Westpac look for a short term dip in USD/JPY – ForexLive
Westpac thinks, “Is there a short-term opportunity for the yen amid long-term headwinds?” To summarize from my notes: A textbook case of a rapid USD/JPY reversal appears to be developing. The pair has been rotating between 150 and 151 recently, even though the hawkish re-pricing of US interest rates has lost momentum. US long-term yields […]
GBPUSD Technical Analysis – We are at a key level – ForexLive
USD The Fed kept interest rates on hold as expected at its previous meeting, dropping its tightening bias in a statement. US PCE matched expectations. U.S. jobless claims were lower than expected, but the data remains within recent ranges. The latest US PMI rose further from last month as the manufacturing PMI came in above […]
Yen climbs as Bank of Japan drops the clearest hint of a looming rate hike – ForexLive
US dollar yen 5 minutes Bank of Japan board member Hajime Takada opened the door for Japan to raise interest rates and end negative interest rates. His comments caused USD/JPY to drop nearly 50 pips, slowing its gains from the beginning of the week. Although he stopped short of promising policy changes, his comments were […]
US dollar sags after Harker and Waller highlight Fed still on track to cut – ForexLive
US dollar yen 10 minutes The USD is slightly lower today as the market sorts out another week of data and Fedspeak. I spoke with FRB Director Waller, Asia Pacific Trading, and as usual, he was candid. He said the recent CPI report was a reminder that the development of inflation was not certain, but […]
A placeholder session before the FOMC meeting minutes – ForexLive
Most major currencies started the day lower and risk appetite declined. The Aussies and Kiwis are making decent moves, carrying on yesterday’s momentum. Meanwhile, the dollar is stable, with EUR/USD holding around 1.0800 and USD/JPY still hovering around the 150.00 mark. There is tentative caution in the stock market as we await Nvidia’s results later […]
Forexlive Americas FX news wrap: The FX market was unconvinced by the PPI report – ForexLive
market: Gold rises $9 to $2013 US 10-year bond yield rose 4.3bps to 4.28% WTI crude oil rose $1.20 to $79.23 S&P500 falls 0.5% NZD leads, JPY lags The closely watched PPI reading initially appeared to be the start of something similar to the CPI earlier this week, albeit on a smaller scale. Initially, the […]
Verbal intervention from Japan – Kanda says recent yen moves are 'rapid' – ForexLive
Vice-Minister of Finance Kanda of the Ministry of Finance. He is the official who instructs the Bank of Japan to intervene if he deems it necessary. He is also called Japan’s “top currency diplomat.” The yen has been moving quickly lately. We will closely monitor FX trends with a high sense of nervousness. We will […]
USD/CAD soars to a two-month high after hot US inflation – ForexLive
USD/CAD has broken out of its 2024 range as the US dollar soars across the board. Previously, the pair stalled around 1.3540 three times, but finally broke through with a 115-pip jump. USDCAD daily Oil is up 50 cents today, so Canada is getting some help on that front, but natural gas continues to hold […]
Dollar keeps steadier so far on the day – ForexLive
Today is mostly a placeholder as traders all await tomorrow’s US CPI data. This is a good reason why the price trend tends to be more sideways at the beginning of the week. And that’s exactly what we have so far today. The dollar has remained stable, but there is still room for improvement in […]
USD/JPY retests highs for the year as dollar stands its ground – ForexLive
USD/JPY daily chart Bond markets have been more volatile this week, but USD/JPY traders don’t seem to be waiting on the sidelines. Buyers are keen to push their agenda after defending the decline near the 100-day moving average (red line) earlier this week. Currently, the price is moving higher on this day to test the […]