EUR/USD 1.14401
0.560%
Gold 4110.92
1.982%
Oil 67.682
-0.506%
USD/JPY 161.111
-0.904%
GBP/USD 1.33593
0.640%
GBP/JPY 215.241
-0.256%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 2 – Microsoft (MSFT.O) is forming a new 6,000-person division to help enterprises with the technical and strategic work of deploying artificial intelligence. Microsoft stated that the divisions employees will possess extensive experience in engineering, corporate training, and management, as well as industry-specific expertise. Judson Altoff, CEO of Microsofts Commercial Business, said that closer collaboration with customers will help them implement AI more efficiently and will also inform Microsofts own product development decisions.July 2 – Tesla (TSLA.O) sales significantly exceeded Wall Streets previously conservative expectations, bucking the trend of slowing growth in the global plug-in electric vehicle market. The company delivered 480,126 vehicles globally in the second quarter. This figure surpassed the average forecast of 396,466 vehicles compiled by Bloomberg. Deliveries increased by 25% compared to the same period last year. Last year, Tesla CEO Elon Musk faced widespread consumer criticism for his controversial performance under the Trump administration. Despite the improved sales, many who follow Musk are shifting their focus from Teslas core electric vehicle business to the CEOs vision of making artificial intelligence, self-driving cars, and robotics the primary revenue streams in the future. They also increasingly anticipate that Musk might choose to merge Tesla (TSLA.O) with SpaceX, which completed a record initial public offering (IPO) last month.July 2nd - Following the release of the latest U.S. government jobs data, markets on Thursday bet that the case for a Federal Reserve rate hike later this month has significantly weakened due to a marked slowdown in job growth. The closely watched jobs report released Thursday by the Bureau of Labor Statistics showed that nonfarm payrolls increased by 57,000 in June. This was roughly half of economists expectations. Mays job growth was revised down to 129,000 from the initially reported 172,000. Seema Shah, chief global strategist at Principal Asset Management, wrote, "The slowdown in job growth challenges expectations of a labor market recovery in recent months, but more importantly, it reinforces the view that the Fed faces little pressure to tighten policy." Short-term interest rate futures traders now believe the probability of a July rate hike has fallen below 20%, but still see a higher probability of a September rate hike.Tesla (TSLA.O) shares rose more than 2% in pre-market trading but have since fallen back to less than 1%. Total deliveries in Q2 were 480,126 vehicles, exceeding market expectations.Tesla (TSLA.O): Deployed 13.5 gigawatt-hours of energy storage products in the second quarter.

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