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Forex Friday: EUR/USD, GBP/USD and USD/JPY
In this week’s edition, we discuss the dollar’s recovery despite weaker inflation data, and talk up the prospects of the euro, pound and yen.
USD/JPY heading to 130?
With the odds of 75 basis point hike having dropped, the Fed is careful not to push too hard against that...
Fed speakers out in force with more hawkish tone; USD/JPY
The correlation between USD/JPY and 10-year yields has come back in line and is almost in “strong” territory on the daily timeframe.
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Japan data dump won’t help the Yen; USD/JPY
If the data dump later comes out as expected, will the BOJ turn less dovish? It's unlikely.
Two trades to watch: USD/JPY, FTSE
USD/JPY slips after BoJ minutes & ahead of US consumer confidence. FTSE rises with earnings, oil in focus.
European Open: USD/JPY looking to build a base around 138
USD/JPY is currently trading lower for a second consecutive day, although price action appears to be corrective and may be able to form a vase around 138.
Does the strong Retail Sales data check the box for higher rates?
“Never bet against the American consumer” is a phrase that has been thrown around the street, and June’s data shows why.
USD/JPY hits its highest level since September 1998
USD/JPY continues to defy gravity and rose to a multiyear high, with US inflation ripping higher and the BOJ repeatedly broadcasting their ultra-loose monetary policy.
US CPI preview: Will inflation overshoot again?
Annual CPI is expected to have accelerated to 8.8% in June from 8.6% in May.
European Open: EUR/USD and parity in focus for today’s German ZEW report
Another weak sentient report from Germany could be the straw which breaks parity’s back and send EUR/USD below this key level.
European Open: New high for USD/JPY, EUR/GBP rolls over
Fears of a recession in Europe weighed heavily on the euro last week, which saw the most bearish week for EUR/GBP since the pandemic.
USD/JPY reaches its highest level since September 1998
Fed chairman Powell’s comments earlier may have sent USD/JPY to its highest level in 24 years, but they also sent the pair reeling later in the day.
European Open: Volatile trade for yen pairs, PMI’s up next
The Japanese yen was broadly higher overnight on comments from a former FX and a report showing foreign investors fled the bond market last week.
USD/JPY trades to new 24-year highs! Will it keep going?
The next move for the USD/JPY may depend on Japan fx intervention, comments from Powell, Japan CPI, or an overbought RSI.
FX: Aftershocks of central bank bonanza
Despite the macro calendar being light, it could be a busy week for FX markets
‘If’ the BOJ abandon YCC, hold onto your hats (USD/JPY)
The yen was stronger overnight as some began to speculate that the BOJ could alter (or abandon) their yield curve control target. We outline three potential scenarios.
Yen in focus ahead of BoJ
As pressure mounts on BoJ to control yields, will we see a surprise policy response or perhaps government intervention?
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Two trades to watch: USD/JPY, Oil
USD/JPY pulls back ahead of Fed rate decision. Oil steady ahead of Fed rate decision, EIA inventory data.
US PPI not much help in trying to decide between 50bps and 75bps from the Fed
Until the FOMC decision on Wednesday, USD/JPY seems like it may be in waiting mode.
US Yields on the move again. What does it mean for USD/JPY?
US 10-year yields and USD/JPY have a strong, positive correlation with a correlation coefficient of +0.92.
Non-Farm Payrolls beat; What will the Fed think?
Today’s headline NFP print and average hourly earnings data should make the Fed happy.
Poor housing data sends USD/JPY lower
Weaker US housing data sent the markets into risk-off mode, dragging USD/JPY lower with it.
European Open: USD/JPY hugs 130 like an old friend it's about to leave
USD/JPY has been trading in a 20-pip range around 130 over the past 12 or so hours - a level we don’t expect to see it anywhere near this time tomorrow.