Steady Progression of Yen Depreciation, Strongly Driven by Dollar Strength
Recently, the yen has been steadily depreciating at a gradual pace. Following two suspected covert interventions, USD/JPY has gradually risen to the 157 level. EUR/JPY is stabilizing around 170, and GBP/JPY around 200. Yesterday, statements from Minneapolis Fed President Kashkari that “nobody has taken a rate hike off the table” and a significant increase in […]
Monitoring UK and US Market Trends After the Long Weekend
Today, we will be monitoring the market trends in the UK and US following their extended weekend. The US stock market will be a key focus. After last week’s strong earnings report from US semiconductor giant Nvidia, there is a sense that the positive momentum might have peaked. It remains to be seen if the […]
USD/JPY in Focus Amidst a Quiet Market with UK and US Holidays
At the start of the week, both the UK and US markets will be closed. The UK market is closed for the Spring Bank Holiday, and the US market is closed for Memorial Day. As a result, trading activity is expected to be low, leading to a cautious or lightly corrective trading environment. Last week […]
USD/JPY (US Dollar/Japanese Yen) Strong Sell: Currency in Focus and Technical Analysis (15-Minute Chart) – May 24, 2024
EUR/USD (Euro/US Dollar) Strong Buy EUR/USD has slightly declined and is testing around 1.0800. Investors are focused on Germany’s Q1 GDP, which showed a year-on-year decrease of 0.9% and a quarter-on-quarter increase of 0.2%, as expected. Following the release of the Fed’s May meeting minutes, the likelihood of a rate cut in September has decreased, […]
Monitoring Sustained Dollar Strength Ahead of US Holiday Weekend
This week has seen a trend of dollar strength. Several US financial officials have shown a cautious stance on starting rate cuts within the year. Economic statistics, such as the better-than-expected preliminary PMI for May, have supported the dollar’s strength. The contrast in monetary policy expectations between the Fed, which is hesitant to cut rates, […]
Monitoring for Sustained Dollar Strength, Focus on Today’s PMI Data
Since the latter half of May, the trend has been towards a stronger dollar. While the broader trend of dollar weakness from April remains, the dollar index has reached short-term resistance at the 10-day moving average, indicating a slowdown in the pace of dollar depreciation. Yesterday’s FOMC minutes came across as more hawkish than expected, […]
NZD and GBP Exert Downward Pressure on USD, But Dollar Remains Firm
Market Commentary NZD and GBP Creating Downward Pressure on USD, But Dollar Remains Firm Today, we are seeing some dollar weakness. The NZD is being bought after the Reserve Bank of New Zealand’s decision to keep the policy rate unchanged, accompanied by a hawkish statement. Additionally, the GBP has surged following the release of the […]
USD/JPY Steady Outlook, Focus on Fed Officials’ Speeches
Current Positions: EUR/CHF: Sell entry at 0.9875 Stop loss at 0.9918 BTC/USD: Buy entry at 68207.27 Stop loss at 65715.00 Market Commentary: USD/JPY: Steady Outlook with Focus on Fed Officials’ Speeches USD/JPY reached 156.55 in the afternoon, continuing the yen’s depreciation trend from the previous day. However, some profit-taking occurred before the London session, causing […]
USD/JPY: Centered on Trading in the Upper 155 Yen Range, Seeking the Next Direction
USD/JPY is expected to continue searching for direction in the overseas market. Influenced by the interest rate differential between Japan and the US, buying interest emerges when the pair dips. However, there is some dollar selling pressure in other pairs, such as EUR/USD, which is trading in the 1.0880 range. Last week’s US CPI and […]
All Key Data Released for the Week: Monitoring Price Movements Heading into the Weekend
Market Commentary: This week saw a flurry of US economic data releases, including PPI, CPI, retail sales, and yesterday’s initial jobless claims, import prices, and industrial production figures. Slight deviations from expectations in PPI and CPI reinforced the scenario of easing inflation. This bolstered expectations for a September rate cut by the US FOMC, leading […]