|Day's Range||0.009 - 0.009|
|52 Week Range||0.0087 - 0.0096|
Yahoo Finance's Jared Blikre joins Seana Smith from the floor of the New York Stock Exchange to discuss a Goldman Sachs analyst note, which notes negative seasonality for equities in midterm election years heading into the election.
The pair went much lower during the Wednesday’s session reaching the 1.21 level, the area which has massive importance and was also the scene of a major breakout. A bounce from here will confirm the continuation of the upside trend but the pair is experiencing huge downward pressure due to rise in the yield of Treasury papers in the US. And, also lack of any clear direction from the ECB on monetary tightening is affecting the market. …Read MoreGBP/USD
The Yen has continued to traverse its weaker trend versus the U.S Dollar and has broken resistance consistently in the short term.
Nomura Holdings Inc, Japan's biggest brokerage and investment bank, posted its largest slide in quarterly profit in almost four years as its Americas unit lost money and retail clients grew cautious amid volatile markets. Nomura set aside 30 billion yen ($274 million) in provisions for "legacy transactions" preceding its 2008 purchase of Lehman Brothers' European and Asian operations, leading to a pretax loss at its Americas unit, the company said on Thursday. At its key retail unit, which serves mostly individual Japanese investors, pretax profit fell by nearly a fifth from a year earlier as trading slowed amid turbulent market conditions, underscoring how closely Nomura's fortunes are tied to factors beyond its control.
The U.S Dollar has continued to be strong in forex as the Euro, Pound and Yen have all been pushed to additional weaker levels.
Markets were choppy yesterday as 10-year US notes went above 3%, but after creating new lows for the week, stock markets rallied with much of this move extending into the Asian session.
The contrast in central bank policy is supporting the rise in the USD/JPY. Simply stated, the U.S. Federal Reserve is widely expected to raise interest rates at least two more times this year, while the Bank of Japan is expected to continue to leave rates unchanged. This is causing the spread between U.S. Government Bonds and Japanese Government Bonds to widen, making the dollar a more attractive investment.
The US dollar rallied significantly over the last couple of days against the Japanese yen, and Wednesday was a continuation of the bullish pressure. It now looks as if the market continues to see pullbacks as potential value, as we reach towards the vital 110 level above.
Japan's Asahi Mutual Life Insurance Co plans to invest 100 billion yen this fiscal year in foreign currency bonds without hedging, or 'open' foreign bonds, and also cut exposure to dollar assets, a senior company executive said on Wednesday. The insurer said it would cut exposure to U.S. dollar-denominated bonds to 65 percent from 80 percent due to uncertainty over U.S. political climate, Masaru Tsuruoka, head of the asset allocation and planning department at Asahi Life, told Reuters in an interview. While U.S. dollar-denominated bonds will account for 65 percent in the foreign bond investment category, other currency bonds such as Australian and Canadian dollar-denominated bonds will account for 20 percent, while euro-denominated bonds will account for 15 percent.
If the pair breaks below further, then it will be negative and will be a massive damage to the overall uptrend. A break above 1.4025 level will probably send this market much higher and will break the negative momentum. The 1.40 level is now acting as a strong support line and if it breaks then it will be a bit difficult for the market to regain positive momentum.
The U.S Dollar’s surge was halted on Tuesday as the Yen, Euro and Pound held their ground after three straight sessions of downward pressure in forex.
The US dollar has rallied during the trading session on Tuesday, as we have more of a “risk on” attitude around the markets. We clear the 109 level, which is a very bullish sign. There is also a significant amount of support underneath, so I think that the market retains a healthy attitude.
Even after printing the lowest levels in more than seven-weeks, the EURUSD is struggling with 100-day SMA, at 1.2210 now, in order to revisit the 1.2165-55 horizontal-support. Should the pair fails to register a daily closing below 1.2210, it can bounce-back to the 1.2240 and then to the 1.2275-80 resistances. In case if the recovery stretches beyond 1.2280, the 1.2300 and the 50-day SMA level of 1.2330 could challenge the buyers ahead of fueling the pair towards 1.2400 mark. Given the pair’s D1 close below 1.2210, followed by the 1.2155 clearance, it can slump to the 1.2090 and the 1. ...
The U.S Dollar has remained robust as it has gained against nearly every major currency. Gold has faltered and is above an important support level, which traders may attempt to challenge. U.S Crude Oil is approaching values not seen since late in 2014.
Although the solid uptrend is guiding prices higher, buyers may take a breather as we approach Friday’s release of the U.S. GDP. Traders are looking for 2.0% growth. A higher than expected number will justify this week’s rise in U.S. interest rates. A lower than expected number should drive rates back down which should weaken the USD/JPY.
The US dollar has rallied significantly during the trading session on Monday, gapping at the open, and then exploded above the 108 handle. I believe that the market should continue to find buyers on short-term pullbacks now that we have broken above the important 108 level, and we will more than likely continue building the base that we have been fighting for.
It’s been risk on this morning, with the markets accepting rising Treasury yields, as economic data at the start of the week suggest that a soft patch in the 1st quarter may have come to an end.
The pair dropped significantly during the Friday’s session reaching down towards the 1.22 level as due to rising interest scenarios in the United States and lack of any clear pictures on rate hike by ECB after ending the QE. The market has now broken below 1.23 level, there will be some downward pressure with major support at 1.21 level. …Read MoreGBP/USD
Gold has come under pressure and speculators may be looking for lower values. However, U.S Crude Oil has seen consistent buying as the commodity tests new highs.
The direction of the Dollar/Yen this week is likely to continue to be influenced by rising U.S. Treasury yields and expectations of more rate increases from the U.S. Federal Reserve later in the year. Increased demand for higher risk assets should also help underpin the USD/JPY as well as the easing of tensions over geopolitical events.
Helping to boost yields was a comment from San Francisco Fed President John Williams who said last Tuesday that he expected U.S. inflation to rise to the U.S. central bank’s 2 percent goal this year and stay at or above that goal for “another couple of years.”
The US dollar initially pulled back against the Japanese yen during the week but found enough bullish pressure to reach towards the top of the shooting star from the previous week. This is a very bullish sign, and we have a clear breakout point to watch.
The US dollar initially pulled back against the Japanese yen on Friday but found enough support near the 107.50 level to turn around and rally significantly. I think that the 108 level above is major, so paying attention to this market is crucial now.
The Euro chopped around the 1.2350 level during the Thursday’s session using it as a support. The uptrend line underneath should continue to keep this market in the positive momentum and also attract a lot of buyers. It is believed that until this market breaks above the 1.25 level, it will continue to consolidate around the region.
The greenback continued to go back and forth during trading on Thursday, as the 107.50 level should continue to be an area of interest. I believe that if we can break above this level, then we could see a significant move towards the vital 108 level.