Japan posted a current account surplus of 934.6 billion yen in June, the Ministry of Finance said on Tuesday. more...
Dollar/yen attempted to move above the cycle high but was rejected. On its way down, it lost the uptrend line of support. The drivers were both political and monetary. The upcoming week features housing data from the US: building permits and housing starts. Also, watch the Philly Fed Manufacturing Index. Echoes from Yellen’s testimony and the inflation report will likely reverberate.In Japan, we have a rate decision by the BOJ. Kuroda ...
USD/JPY had just forced an upside trendline break and the previous significant high – May 10’s 114.37 – was within striking distance. The Dollar got there alright, breaking in to the 114.40s on July 11, but victory was partial. It only managed to top that summit intraday, still hasn’t managed a higher daily close and has now retreated below. That channel neatly captures all the trading action from June 14’s low to the present day, but it may also offer something of a false positive. ...
Weekly USD/JPY Outlook: 2017, July 09 - July 16 Dollar/yen advanced for the fourth week in a row, extending the rise alongside the uptrend support line. Can it continue further to the upside? It is getting closer to the cycle high of 114.30 and the steep uptrend could be hard to sustain. The upcoming week begins with echoes from the Non-Farm Payrolls report and also the G-20 Summit, including the first meeting between ...
On Friday, USD/JPY broke above 114 for the first time since May in large part due to persistent JPY weakness that was catapulted by a BoJ offer. The Bank of Japan offered to buy unlimited bonds at a fixed rate to help limit front end bond yields and emphasize their Yield Curve Control (YCC) approach to monetary policy. However, there were no tenders, which could mean we’ll see further JGB flattening in the near term as we see across the world. The takeaway ...
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