Results for 'JPY'
98 articles with this tag name
Updated May 17, 2013 12:12:26 AM
Yesterday’s surprisingly good GDP and better than expected machine orders figures today beg the question, is Abenomics working? Japan’s economy grew at the fastest pace among all G7 countries in Q1. GDP increased 0.9% during the first quarter of this year, compared to an expected 0.7% rise and a revised 0.3% in the prior quarter. Also, machine orders increased 14.2% in March, beating an estimated gain of 3.5%. At face value it certainly looks like
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Updated May 16, 2013 10:20:00 AM
The slew of economic data released this morning out of the US reinforced the need for ongoing Fed stimulus (for now) as reports raised concern regarding both of the Fed’s mandates (price stability and full employment). Consumer prices fell by -0.4% m/m in April which was deeper than the expected -0.3% drop and even lower than the prior month’s decline of -0.2%. This was the first back-to-back decline since 2008 and the April decline was
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Updated May 14, 2013 6:13:48 PM
This pair has been consolidating in a triangle formation since mid-April, after the pair pushed back from its highest level since November 2007. Recently, however, it has been a case of which currency was weaker, resulting in some sideways movement. With AUDUSD below parity and USJPY above 102.00, and both pairs with the ability to push lower and higher respectively, what becomes of AUDJPY? AUDJPY is at key juncture as it approaches a very important
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Updated May 13, 2013 11:40:00 AM
USD/JPY rose above 102 for the first time since 2008. The pair has been in a steep upwards trend channel since September and the recent break above the psychological 100 figure saw a pick up in upside momentum over the past few sessions. Key factors behind the rise in USD/JPY are:
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Updated May 10, 2013 12:39:16 AM
A flood to the USD and away from the yen generated an earthquake in the boarder market. USDJPY punched through 100.00 after better than expected US jobless claims figures caused investors to curb beats on the duration of QE3. From here, we are watching a resistance zone from early-2009 around 101.45 and then another barrier for the pair around 102.85. AUDUSD smashed barriers around 1.0150 and 1.0115, causing investors to cut expectations for further easing
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Updated May 9, 2013 1:30:00 PM
USD/JPY continues to trade within its bullish long term channel and the pair is currently testing above the top of a recent triangle formation. We identified this consolidation pattern earlier this week as a continuation pattern and it appears that USD/JPY may soon approach the significant 100.00 level. 100.00 has been a key technical hurdle to the upside and we maintain our view that a shift of flows from Japanese investors out of the country
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Updated May 7, 2013 1:45:00 PM
The JPY has weakened considerably against the USD over the past several months but has faced a significant hurdle ahead of the psychological 100 level. USD/JPY has been trading within a bullish channel since September of last year and the pair appears to be consolidating in a pennant formation below 100.00. This type of chart pattern suggests a continuation of the current trend and the potential for a break above 100. For now, we expect
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Updated May 7, 2013 1:28:31 AM
The Australian dollar took a hit after the RBA cut the official cash rate to a record low of 2.75%, from 3.0%, but a further sell-off was avoided because of the RBA’s somewhat lacklustre statement. The bank stated that it cut rates in order to encourage sustainable growth in the economy, consistent with meeting its inflation target. Also, the RBA acknowledged that the effects of prior rate cuts are still finding their way into the
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Updated May 2, 2013 3:20:00 PM
With central bank meetings out of the way for now, markets will turn their attention to tomorrow’s BLS employment report and though expectations are for an improvement from March’s anemic job growth, a lack of significant progress is likely to mean that the Fed will keep asset purchases steady. The “increase or reduce” language in yesterday’s statement implies that markets are likely to be more sensitive to economic data surprises. As such, markets will be
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Updated May 1, 2013 2:30:00 PM
Today’s FOMC statement produced no major changes to monetary policy: Outside of the addition of “the Committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy accommodation as the outlook for the labor market or inflation changes”, the May FOMC statement was nearly a carbon copy to the one in March. Market response since the announcement:
*Below you will find the May and March statement comparison, with omissionsContinue Reading
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