OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: USD/JPY remains "green" after testing opening price

The US data load released at 12:30 GMT provoked a spike to 96.59 high, but the USD/JPY soon retraced its gains for a retest of the opening price of 96.12, which held the pair and is allowing the daily candlestick to remain "green".

The US current account deficit narrowed from $-112.4B to $-110.4B in Q4, beating the $-112.80B consensus. However, Q3 data was revised much higher from $107.51.

In the week ending at March 10 week, initial jobless claims dropped from 342K (revised from 340K) to 332K, against a market consensus pointing to 350K. Continuing claims rose from 3.113M to 3.024M, better than the expected 3.100M.

"I think today the price may form an ascending correction towards the level of 96.45", wrote Roboforex.com analyst Igor Sayadov. "Later, in my opinion, the pair may continue falling down towards the level of 95 and then start a new ascending movement to reach the targets at 97 and 98", he concluded.

Forex Flash: Current US yields are unusual, but justified – Goldman Sachs

As the market looks to the prospect of a more ‘normal’ recovery, the question of when and how quickly US government yields might rise is now sharply in focus. Current bond yield levels are unusual, but not unjustified. The extreme economic circumstances of the past few years and unprecedented central bank responses explain why yields have been where they have been.
Read more Previous

Forex Flash: AUD/NZD in midst of significant week surrounding central banks – Westpac

It has been a very significant week for the AUD/NZD – pricing for the RBA cash rate had already shifted markedly this month, from around -50bp ahead of the RBA meeting to around -26bp before the recent Australian employment data release. At time of writing only about half a rate cut is priced in (-13bp) with an aggressive reaction to the
72K surge in total employment, the largest monthly gain since July 2000.
Read more Next
Start livechat