USD/JPY Rises Despite Bank of Japan YCC Flexibility
The BoJ pledged more flexibility in its yield curve control (YCC) on Friday, but the implicit nature of the YCC tweak disappointed Yen bulls and the pair rises
Page 25 of 97
The BoJ pledged more flexibility in its yield curve control (YCC) on Friday, but the implicit nature of the YCC tweak disappointed Yen bulls and the pair rises
Watch today’s US Open for insights on the latest policy decisions by the US Fed and its European counterpart (ECB), the strong quarterly results by social media giant Meta Platforms and more
The EURUSD’s sentiment has shifted from bullish to bearish over the last two hours. The daily candle (still to complete) shows a long upper shadow. The high is where the bulls lost control to the bears. Since then, the bears have ripped price down, and EURUSD is now trading below its open.
FXCM’s USDOLLAR tracked US yields lower following yesterday’s FOMC rate announcement and press conference. Fed chair Powell stated that the Fed “could afford to be patient” due to its interest rate increases to date. It also was clear that the Fed is data dependent choosing not “to provide a lot of forward guidance.” The next meeting is some time away on 20 September. The Fed will have seen two CPI…
Watch today’s US Open for insights China’s economic support pledge, the Fed’s upcoming policy decision, Big Tech earnings and more
After its best week of the year, the pair trades with caution today ahead of key policy decisions by the central banks of the US and Japan
Watch today’s US Open for insights on the quarterly results from Tesla and Netflix, the soft CPI report from the United Kingdom and more
Watch today’s US Open for insights on the latest disappointing data from China, upcoming UK inflation release and highly anticipated earnings from Tesla and Netflix and more
The pair loses some momentum, but sustains its bullish bias after its best week of 2023, which was fueled by the soft CPI inflation report from the United States
Watch today’s US Open for insights on the soft US CPI inflation report that brings the US Dollar down, the watershed pause by the central bank of New Zealand and more
Earlier in the week we tracked the USDOLLAR’s symmetrical triangle pattern, noting that the lower boundary was being tested. FXCM’s USDOLLAR basket has now broken down out of the pattern, close to the apex of the triangle. In conjunction the weekly RSI has dipped below 50, which is on the bearish side of the oscillator. The longer the RSI maintains this position, the greater the likelihood of further downside pressure…
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.