Every day Foreign exchange Information and Watchlist: USD/JPY

The U.S. is printing development numbers right this moment!

Will the discharge have an effect on the greenback’s intraweek tendencies? I’m USD/JPY for clues.

Earlier than shifting on, ICYMI, yesterday’s watchlist explored a pullback play on USD/CAD ahead of the BOC and FOMC policy announcements. Make sure to try if it’s nonetheless a sound commerce!

And now for the headlines that rocked the markets within the final trading sessions:

Recent Market Headlines & Financial Information:

FOMC indicators March fee hike, Powell hints there’s “fairly a bit room” for increased charges

BOC surprisingly stored rates of interest unchanged however signaled future fee hikes

U.S. new dwelling gross sales surge to a nine-month excessive of 811Ok models in December

U.S. crude, gasoline shares construct, whilst gasoline demand surges – EIA

U.S. shares shed good points, Treasury yields bounce as Fed indicators fee hikes may come ‘quickly’

New Zealand shopper costs up by 5.9% from a yr in the past in This fall 2021, the best in 30 years and far quicker than the RBNZ’s 1.0% – 3.0% goal vary

Oil breaks $90/bbl for the primary time since 2014 on Russia tensions

U.Ok.’s CBI realized gross sales at 11:00 am GMT
U.S. advance GDP at 1:30 pm GMT
U.S. core sturdy items orders at 1:30 pm GMT
U.S. preliminary jobless claims at 1:30 pm GMT
U.S. pending dwelling gross sales at 3:00 pm GMT
Tokyo’s core CPI at 11:30 pm GMT
Australia’s quarterly PPI at 12:30 am GMT (Jan 28)

Use our new Currency Heat Map to shortly see a visible overview of the foreign exchange market’s worth motion! 🔥 🗺️

What to Watch: USD/JPY

USD/JPY 1-hour Forex Chart
USD/JPY 1-hour Foreign exchange Chart

In case you missed it, the Fed stepped up its fee hike talks when Chairman Powell not solely hinted that fee hikes are coming “quickly” but additionally did NOT rule out 4 rate of interest hikes this yr.

The greenback ended up being king of pips, gaining towards each dangerous and safe-haven currencies alike.

USD/JPY, particularly, gained one other 60 pips or so after discovering assist from the 113.75 consolidation.

Can the bulls push the greenback to 115.50 earlier than the bears step in?

The U.S. is publishing its This fall 2021 development numbers right this moment. Phrase round is that we’ll see a slowdown after a 6.7% annualized development in Q3 2021.

Not-so-bad development figures would assist the Fed’s plan to remove its straightforward insurance policies. USD/JPY may lengthen its intraweek good points and hit the main resistance close to 115.50.

If we see a lot weaker than anticipated outcomes, although, then the Fed would possibly suppose twice about its hawkishness.

Greenback bears may take cues from Stochastic’s overbought sign and USD/JPY may dip again right down to its 113.75 lows.

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