EUR/USD 1.16443
0.181%
Gold 4406.48
1.175%
Oil 92.251
0.049%
USD/JPY 153.104
-0.569%
GBP/USD 1.35661
0.194%
GBP/JPY 207.707
-0.383%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Google (GOOG.O) will invest at least €13 billion in artificial intelligence infrastructure in Finland between 2027 and 2028. The investment includes data centers, infrastructure, and energy projects.On September 9th, Morgan Stanley released a research report indicating that Link REIT (00823.HK)s overall merchant sales in the first quarter of fiscal year 2027 (end of June 2026) declined by 1% year-on-year. Among them, the catering business continued to improve, growing by 1.5% year-on-year; supermarket performance remained weak, declining by 1.9% year-on-year. Management expects Hong Kong property renewal rents to decline by 5% year-on-year in the first half of fiscal year 2027 (end of September 2026), an improvement compared to the 8.2% decline for the full fiscal year 2026 and the 6.4% decline in the first half of fiscal year 2026. However, the guidance of an 8% year-on-year decline in renewal rents for the full fiscal year remains unchanged, implying that the performance in the second half of the year will be worse than the first half. Morgan Stanley noted that Link REITs annual cost reduction plan of HK$200 million is progressing well. Through cost reduction and share buybacks, the distribution per unit in fiscal year 2027 is expected to remain flat year-on-year, with financing costs remaining at 3.4%. The Anderson Road project is 80% pre-leased and is scheduled to open in October this year. Morgan Stanley expects it to support rental income in fiscal year 2028 and has given it an overweight rating with a target price of HK$44.According to Finnish broadcaster YLE, Google (GOOG.O) will invest at least €13 billion in artificial intelligence infrastructure in Finland between 2027 and 2028.On September 9th, JPMorgan Chase issued a research report stating that the sales slowdown at Laopu Gold (06181.HK) in the second quarter was more cyclical than structural. Furthermore, the companys gross margin exceeded expectations, its strategies for dealing with gold price fluctuations were clearer, and its VIC and overseas expansion could improve medium-term growth visibility. Liquidity and dividends also provide downside protection. JPMorgan Chase still expects Laopu Golds performance to gradually recover, projecting profits of approximately RMB 800 million and RMB 1.2 billion for the third and fourth quarters, respectively. Although short-term sales performance still depends on gold price trends, and the Mid-Autumn Festival and National Day holidays will be the next key observation points, the bank believes the companys brand competitiveness and medium- to long-term profitability remain solid. The bank maintains its "Buy" rating on the company with a target price of HKD 891.French industrial production fell 0.5% year-on-year in July, compared with a previous reading of -0.10%.

The USD/JPY Currency Pair Swings in a 60-Pip Range as Bulls Reclaim 124.00 on a Positive Note

Drake Hampton

Apr 08, 2022 10:07

Tips

  • The USD/JPY is up 1.26 percent this week.

  • The greenback strengthens as investors shrug off geopolitical concerns.

  • Forecast for the USD/JPY Exchange Rate: As bulls, we are leaning upward and are aiming for the YTD high of 125.10.

 

As the Asian Pacific session opens, USD/JPY pair extends its weekly gains on broad US dollar strength. The USD/JPY remains strong at 124.15, after trading in a tight 55-pip range over the last three days as the Eastern Europe conflict between Russia and Ukraine enters its sixth day.

 

Asian market futures continue to trade higher, despite the ongoing Russia-Ukraine confrontation. Contrary to the positive tone of Asian market futures, which point to a stronger open, US equities concluded the afternoon in a divided mood. Investors shrugged aside Russia-Ukraine tensions on Thursday, despite Russian Foreign Minister Sergei Lavrov's complaint that Ukraine's new draft accord submitted to Russia does not meet Russia's demands on Crimea and Donbas. Meanwhile, recent reports indicate that Russia is regrouping soldiers in preparation for another offensive aimed at reclaiming Ukraine's eastern territories, Donetsk and Luhansk.

 

The North American session on Thursday featured Fed speakers, lead by St. Louis Fed President James Bullard, who stated that the Fed is still behind the curve in its efforts to contain inflation. Bullard said that by the second half of the year, he would like to see the Federal Funds Rate (FFR) at 3.5 percent.

 

Later that day, Chicago Fed President Charles Evans indicated that "we (the Fed) will reach neutral by the end of this year or early next."

 

On the Japanese docket, the Current Account for February and Consumer Confidence for March would be the headline economic data releases. On the US front, Wholesale Inventories for February will be released on a monthly basis. 

USD/JPY Forecast: Technical Analysis

The USD/JPY continues bullish, but the average daily range (ADR) has been 55 pips during the last three days. Daily moving averages (DMAs) below the spot price further reinforce the uptrend, and it's worth noting that the 100-DMA at 109.48 is on the verge of crossing over the 200-DMA at 109.60.

 

With that considered, the first resistance level for the USD/JPY would be 124.00. If the latter is breached, the March 29 daily high of 124.30 will be revealed, followed by the year-to-date high of 125.10.


image.png 


Suggestion