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The pair has been in retreat over the last few days, despite aggressive bets around the Fed’s tightening path, but today it finds support during the European hours
The pair dropped after Friday’s jobs reports from the United States and Canada and today it started soft, but finds support at key levels, as we head towards the US session
The pair shows indecision at the start of the week, but manages to post new two-month highs during the European session
The pair rose on Friday due to high Eurozone inflation and poor Non-Farm Payrolls from the US, but today it returns to negative territory
The pair faces renewed pressure at the start of European trading and heads towards a negative week, weighed by Wednesday’s hawkish Fed minutes
Introduction The minutes from the Fed's December meeting indicate that members are concerned over surging inflation and that they also feel that the job market is near full employment. They also suggest that the central bank's balance sheet is due to be normalised, with the intentional reduction of Fed bond holdings. The runoff is likely after the Fed kicks off with its hiking cycle. Moreover, the Fed's acceleration of tapering…
The US Dollar deflates following its Monday rally, allowing the pair to rebound today, ahead of key events – mainly form the US
The week started with losses for the pair, which consolidates today, but could not avert new nearly two-year lows
The USDJPY weekly chart has had five weeks of gains since its November low (aqua ellipse). One of the reasons for this is that the JPY is considered a haven. The fact that it has been depreciating against the USD indicates a risk-on sentiment. Given this, it is no surprise that equity markets had a strong December. However, we note that the currency pair's RSI has moved into an overbought…
King Dollar dominated the first trading of the year and the pair remains soft after yesterday’s drop
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