Results for 'USDJPY'
84 articles with this tag name
Updated May 24, 2013 6:20:00 AM
The first phase of Abenomics, which started at the end of 2012, involved stimulating the economy and expanding the monetary base to JPY 270 trillion, resulting in a sharp drop in the JPY and a large boost for the Nikkei. However, the events of the last few days have caused this relationship to break down. The Nikkei’s large decline on Thursday fuelled a wave of risk aversion, which boosted the yen. This isn’t the way
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Updated May 23, 2013 11:00:00 AM
The Japanese yen is the big mover today in the G10 space after reports showing that Japanese investors returned to being net sellers of foreign bonds after 3 weeks as net buyers of overseas debt. Ministry of Finance flow data showed that Japanese investors sold a net ¥804.4B in the week ended May 17 To add to that, the private sector reading of May manufacturing PMI in China surprisingly fell below the 50 threshold with
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Updated May 23, 2013 7:00:00 AM
There have been some violent moves across asset classes this morning after a perfect storm of central bank chatter, weak Chinese economic data and some large declines in Asian equities knock risk sentiment. European stocks are down 2% or more, and US stock market futures don’t look much better. The yen and CHF are higher in the FX space as risk aversion takes hold. So what is driving these moves? It could be down
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Updated May 23, 2013 4:00:00 AM
It’s been a volatile 24 hours for USDJPY, which has traded in a 200 pip range, after trading in a 100 pip range for most of the last week. After rallying on the back of the Bernanke testimony on Wednesday, it has retreated so far today, falling back below 101.50 – its lowest level since mid-May. Key drivers of yen strength so far include: • The fall in purchases of foreign stocks and bonds
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Updated May 20, 2013 8:30:00 AM
It’s been pretty slow-going today as economic data has been thin on the ground. Ranges in FX are fairly tight and stock markets are flat to fairly neutral. Currently US futures are pointing to a slightly lower open. But there are some important fundamental events this week that could impact the medium-term direction of markets. Japan voice concerns over yen decline Firstly, Japan’s Economy Minister said today that the yen’s decline could have gone
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Updated May 20, 2013 5:00:00 AM
The dollar ended last week with a bang. The dollar index (a broad-based measure of dollar strength) rose nearly 2%, and the USD is the best performing currency in the G10 for the past month. So where are the opportunities for short term traders? Fundamental: Economic data is thin on the ground today. There is nothing of note out in the European session and the US session dishes up the Chicago Fed National Activity
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Updated May 16, 2013 12:00:00 PM
Another day, another wave of economic disappointments for the US economy. What a difference a week makes, this time last week the dollar surged nearly 3% on the back of the lowest level of unemployment claims for 5 years. However, the better payrolls numbers didn’t last long, rising to 360k from 328k last week. This was the highest level of claims since the end of March. Added to this the Philly Fed plunged to -5.2
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Updated May 15, 2013 1:10:00 AM
The Nikkei 225 was propelled higher today by a positive lead from US markets and a depreciation of the yen overnight, with the index breaking 15,000 for the first time since January 2008. It seems every time the yen breaches a key level the Nikkei rallies, which is understandable as a weaker yen boosts company profits, especially manufacturers and exporters. USDJPY breached 102.00 overnight and continued on to a session high around 102.45. If
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Updated May 14, 2013 8:00:00 AM
After a slow start in financial markets this week a couple of themes are emerging: the yen is rebounding and the euro is getting hit from comments coming out of the Eurozone finance ministers meeting in Brussels. Could the Japanese authorities’ enormous stimulus plan be about to bite the government? 5-year government bond yields have surged to their highest level in 2 years this morning. While the nominal level of the 5-year yield is
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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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