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Forex Friday: USD/JPY, EUR/USD and GBP/USD
In this week’s edition, we discuss the dollar, pound and euro, and look forward to the big central bank meetings in the week ahead.
Is the USD/JPY bearish move becoming ‘long’ in the tooth?
Shorting USD/JPY is not a new idea, and as the pair has erased around half of its 21-month rally, we see the potential for a bounce over the coming weeks.
Is the USD/JPY bearish move becoming ‘long’ in the tooth?
Shorting USD/JPY is not a new idea, and as the pair has erased around half of its 21-month rally, we see the potential for a bounce over the coming weeks.
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US data dump provides little new info for the Fed
Although Durable Goods was stronger than expected, there is little to take from the other data points, as it was from so long ago.
Two trades to watch: USD/JPY, DAX
USDJPY falls ahead of US GDP data. DAX rises on hopes of a soft landing.
Technical Tuesday: Russell and USD/JPY
In this edition, we are getting technical on the small cap Russell 2000 index and the USD/JPY.
Yen pairs take back losses after dovish Kuroda comments
Despite a stong CPI, BoJ Governor Kuroda continued with dovish comments regarding Monetary Policy.
Implied volatility screams higher ahead of tomorrow’s BOJ meeting
Overnight implied volatility for yen pairs have risen to their highest level since Brexit, on the eve of tomorrow’s highly anticipated BOJ meeting.
Japan’s PPI rips higher ahead of this week’s BOJ meeting and inflation report
Speculation that the BOJ will be forced to step away from their ultra-loose monetary policy has only intensified with producer prices reverting back to double digits.
Yen gaining on speculation of BoJ action next week
At the December BoJ meeting, traders were caught offsides. They won’t let that happen again!
US CPI Preview: Will lower inflation data cause the Fed to pause?
Inflation has been trending lower since the summer, but will it continue?
ADP Employment Change stronger than expected; lifts USD/JPY
Good news from the jobs front has sent the US Dollar higher in anticipation of a more hawkish Fed. USD/JPY has followed right along with it.
The yen continues to rise as traders bet on BOJ policy shift
The yen was the strongest currency overnight as traders reacted to weak manufacturing PMI data over the weekend, and the potential for the BOJ to adjust their policy.
BOJ surprise could be the “beginning of the end” for QE
Was this a one-off move or was this the beginning of something more to come down the road?
The yen is aggressively stronger following the BOJ’s YCC announcement
A sleepy session in Asia has been rudely awoken from is lull on the news that the BOJ will review their YCC (yield curve control), sending the Japanese yen sharply higher across the board.
What to make of December’s FOMC meeting?
If markets don’t care about what Powell has to say about interest rates, the next place to turn its attention to may be growth and the outlook for a possible recession in 2023!
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1:00 PM − 28 Jan 2023
Two trades to watch: FTSE, USD/JPY
FTSE falls despite inflation ticking lower. USD/JPY falls ahead of the Federal Reserve rate decision.
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European Open: Equities and oil rise on China reopening, US CPI in focus
Sentiment was given another boost ahead of today’s US CPI report with China continuing to scale back restrictions and suggesting international travel could be on the horizon.
November US PPI comes in hot. Will it matter to the Fed?
Although it had an immediate impact on the markets once it was released, the PPI print alone shouldn’t have too much influence on the FOMC decision.
USD/JPY: Dollar likely to rebound again
USD/JPY is one of the more interesting pairs to watch in this data-light session, as it tests a key support level.
Non-farm Payrolls stronger than expected. Does that change the Fed’s plan?
Chances are that Powell and gang stick to the plan and only hike 50bps. However, that’s not to say that they can’t increase rates later if they deem it necessary.
Two trades to watch: DAX, USD/JPY
DAX rallies post-Federal Reserve Chair Jerome Powell's speech. USD/JPY falls to a 3-month low ahead of core-PCE.
Powell's Brooking Institute speech is a dovish version of his November 2nd FOMC press conference
This was the unofficial pivot the markets have been waiting for.