The yen is sharply lower on Wednesday. In the European session, the USD/JPY is trading at 144.82 at the time of writing, up 0.89%.
In Japan, the dust is yet to settle on the political drama. On Tuesday, the new Prime Minister, Shigeru Ishiba, appointed Katsunobu Kato as finance minister. Kato is a supporter of “Abenomics” which advocates monetary easing. This...
As we head into the 2nd of October 2024, the USDJPY currency pair shows signs of a slightly bullish bias. Several key factors, including fundamental drivers and technical market conditions, support this outlook. Traders and investors looking for insights into the pair should consider the following factors influencing USDJPY today.
1. US Dollar Strength
The US...
The Japanese yen has steadied on Monday after posting huge gains on Friday. USD/JPY is trading at 142.43 in the European session, up 0.15%.
The yen soared on Friday but it was in response to political rather than economic developments. The ruling Liberal Democratic Party (LDP) unexpectedly chose Shigeru Ishiba as its new leader and he will take over as Prime...
The Nikkei-225 is trading near 40,000 once more. The sharp decline in early August due to the BoJ rate hike has been swiftly reversed. The outlook for the Nikkei remains bullish with continued investor interest driven by market reforms as well as foreign investor interest.
With the BoJ currently on pause and signalling no urgency to raise rates further, the...
The Japanese yen is sharply higher on Friday. USD/JPY is trading at 143.49 in the European session, down a massive 1.1%.
Tokyo Core CPI, which excludes fresh food, slowed to 2% in September, down from 2's.4% in August and matching the market estimate. The drop was largely driven by the resumption of government subsidies for utility bills.
The inflation reading...
The Japanese yen is sharply lower on Wednesday. In the North American session, USD/JPY is trading at 144.49, up 0.89% at the time of writing.
The Bank of Japan is expected to raise interest rates and continue on the path to normalization. The BoJ lifted rates out of negative territory in March but rates are barely above zero and the markets are expecting further...
Historically, unemployment and inflation tend to alternate each other- hence the Philips inversion curve and other trading philosophies.
Inflation is not necessarily under check in my opinion, but retail and establishments are eyeing up entries here as central banks like the ECB, BOJ, and Fed start cutting their interest rates as job numbers have arguably seemed...
The US dollar has posted sharp gains on Friday. In the European session, USD/JPY is trading at 143.85, up 0.88% at the time of writing. The yen hit a 14-month high on Monday but the dollar has rebounded and is up 2.1% this week. It’s an unusually quiet Friday with no US events on the calendar.
The Bank of Japan held its rate decision just after the Federal...
Intraday Update: The CADJPY has broken the 106.00 level and should put the 106.79 then 107.73 level in view next. Also, today the Canadian retail sales data will be released in North American trade.
Hi Traders,
Here's a summary of the week so far for USD/JPY and GBP/USD.
This week has been packed with economic data releases. Earlier today, the Bank of Japan kept interest rates unchanged but expressed optimism about improvements in the broader Japanese economy.
The overall trend for USD/JPY remains bearish, and we anticipate this to persist into the coming...
We probably won't see much price action today even though rates were cut to 5% yesterday. Many market participants are bullish, but this feeling can quickly disappear if the Bank of Japan (BOJ) decides to raise rates again, creating a situation like the one on August 5th. We got some clusters of liquidation around ~$63k but we have alot more at <$58k to liquidate.
The Japanese yen is down sharply on Tuesday. USD/JPY is up 0.73% today, trading at 141.64 in the North American session at the time of writing. On Monday, the yen pushed below 140 per dollar for the first time since July 2023.
The yen has looked razor sharp, gaining 2.9% in the month of September alone. The yen has surged a massive 15% in the third quarter, the...
The Japanese yen has extended its gains on Wednesday. USD/JPY fell as low as 140.70, its lowest level this year, before paring much of the losses. In the North American session, USD/JPY is trading at 141.71 at the time of writing, down 0.52% on the day.
The hotly-anticipated US inflation report didn’t shake up the markets as it was pretty much as advertised....
The Japanese yen has posted gains on Thursday. In the North American session, USD/JPY is trading at 143.27 at the time of writing, down 0.33% on the day. The yen continues to pummel the US dollar and is up 1.9% this week. Since July 1, the yen has surged a massive 10.7%.
Average cash earnings in Japan rose 3.6% y/y in July, down from 4.5% in June, which was the...
The Japanese yen has edged lower on Tuesday. In the European session, USD/JPY is trading at 144.76, up 0.17% on the day at the time of writing.
Is Japanese inflation falling? On Tuesday, two inflation indicators pointed to a deceleration in inflation in July. BoJ Core CPI, which is closely monitored by the Bank of Japan, dropped to 1.8%, down from 2.1% in June...
The pair is heading towards its second straight losing month, due to the shift in monetary policy dynamics, which could fuel further losses and new 2024 lows towards 140.26. Chair Powell offered the strongest signal to date of a September pivot, bolstering market optimism for multiple rate cuts ahead. The bank of Japan is on the opposite direction, trying to make...
USD/JPY 1M chart;
World trade was seriously affected by the very strong dollar. Therefore, due to the Plaza Agreement signed in 1985, the Japanese Yen started to appreciate significantly against the USD.
Then it continued to appreciate due to the economic bubble that burst in the 90s.
In 1998, there was a major collapse with the Asian Crisis. The Japanese Yen...
When the Bank of Japan hiked its interest rate at the end of July, global markets went into turbulence.
We will discuss what currency carry trade is, why the yen carry trade has caused this global volatility, and, importantly, whether the market will resume its uptrend.
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