Skies Clearing For USDJPY?
With a quiet week ahead in terms of economic data, our attention turns to the USDJPY where the recent turn of events could mean clearing the skies for upside in the pair.
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We interpret and explain price moves in real-time, 24 hours a day. Our team of analysts produce text, video and audio commentary.
You understand the markets and trade with confidence. Learn more at our website here: https://financialsource.co
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Over the past couple of weeks, the USDJPY didn’t take the bait and follow US10Y lower with the same momentum. At the start of last week, we thought that should keep USDJPY downside more contained in the event of a further push lower in yields.
That was the wrong assumption at the start of last week and we saw USDJPY flushing lower as both the USD and US10Y lost ground after a disappointing ISM Mfg PMI and an even more discouraging ADP.
However, an interesting turn of events created a bit of a perfect storm for the USDJPY after a solid beat in the ISM Services PMI but more importantly after Vice Fed Chair Clarida had a bit of a change of heart regarding interest rates and inflation.
But, as always, more on this and how we look to take advantage of that in our week ahead video.
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If you find these weekly analysis and trade ideas useful, you’ll love Financial Source. There’s a link below where you can learn more about it.
https://financialsource.co
----
We interpret and explain price moves in real-time, 24 hours a day. Our team of analysts produce text, video and audio commentary.
You understand the markets and trade with confidence. Learn more at our website here: https://financialsource.co
-----
Over the past couple of weeks, the USDJPY didn’t take the bait and follow US10Y lower with the same momentum. At the start of last week, we thought that should keep USDJPY downside more contained in the event of a further push lower in yields.
That was the wrong assumption at the start of last week and we saw USDJPY flushing lower as both the USD and US10Y lost ground after a disappointing ISM Mfg PMI and an even more discouraging ADP.
However, an interesting turn of events created a bit of a perfect storm for the USDJPY after a solid beat in the ISM Services PMI but more importantly after Vice Fed Chair Clarida had a bit of a change of heart regarding interest rates and inflation.
But, as always, more on this and how we look to take advantage of that in our week ahead video.
-----
If you find these weekly analysis and trade ideas useful, you’ll love Financial Source. There’s a link below where you can learn more about it.
https://financialsource.co
