Higher US yields helped the US dollar to strengthen versus the Japanese yen during the past week.
The Bank of Japan will meet on Tuesday. No changes in its monetary policy are expected. As a result, main drivers for USD/JPY will once again come from the United States. Traders are waiting for Donald Trump to name a candidate for the position of the Federal Reserve’s next chief. US GDP growth in the third quarter turned out to be higher than expected – 3% vs. the forecast of 2.6%. In addition, there will be a lot of news releases in America.
USD/JPY failed to get much higher during the past week. Resistance at 114.30 limited the upside, but at the same time it managed to stay above support at 113.50. Next support is at 112.80 and 111.70. Further dynamics will depend on how the pair breaks out of this range. Technical outlook is between neutral and positive. The pair has lost the previous bullish momentum, but the technical setup is still positive. Above 114.30 we’ll focus on 115.00 and 115.50.
The Federal Reserve speeds up its quantitative tightening, and this is certainly bullish news for the USD. At the same time, this is a negative factor for the American stocks, which have entered their seasonally worst month.
The gold has made a perfect retest, but will it hold against the rising dollar? Also, the Jackson Hole Symposium and Jerome Powell's speech may become critical for most assets, and finally, more economic releases and earnings reports await you.
After last week's CPI turned the markets upside down, we are looking at the performance of the US dollar…
Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.
After the US CPI last week came out above the forecast, traders started expecting a 75-basis point rate hike…
In this video, we will talk about the potential change of a trend in the euro, another stock rally amid a global downtrend, gold prospects, and news that shakes the world right now. It’ll be a helpful video you don’t want to miss.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
|
