New Zealand Dollar Outperforms Ahead of RBNZ Rate Decision, Japanese Yen Pares Two-Day Rally

The New Zealand dollar extended the rally from earlier this week and is the best performing currency against the greenback on Wednesday, while the Japanese Yen weakened across the board and retraced the two-day rally against the U.S. dollar.

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New Zealand Dollar Outperforms Ahead of RBNZ Rate Decision, Japanese Yen Pares Two-Day Rally

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The New Zealand dollar extended the rally from earlier this week and is the best performing currency against the greenback on Wednesday, while the Japanese Yen weakened across the board and retraced the two-day rally against the U.S. dollar.

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New Zealand Dollar Extends Friday’s Rally, Japanese Yen Weighed by Risk Appetite

The New Zealand dollar rallied for the second-day to reach a high of 0.7036 against the greenback, while the Japanese Yen weakened against most of its major counterparts as investors increased their appetite for risk.

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New Zealand Dollar Extends Friday’s Rally, Japanese Yen Weighed by Risk Appetite

From DailyFX:

The New Zealand dollar rallied for the second-day to reach a high of 0.7036 against the greenback, while the Japanese Yen weakened against most of its major counterparts as investors increased their appetite for risk.

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Japanese Yen at Risk On Risk Appetite and Expected Monetary Easing

Japanese Yen at Risk On Risk Appetite and Expected Monetary Easing    Fundamental Forecast for Japanese Yen: Bearish   – Jobless rate fell to 4.9% from 5.1% – Capital spending in the 4Q declined 17.3%, bettering expectations of -18.4% – Yen plunges most since early December   After seeing steady gains throughout the week, the Yen was battered following a better than expected U.S. Non-farm payroll report. USD/JPY soared over 200 pips to erase of all of the week’s losses for the pair which had diverged from rising equity markets prior to the move. Troubles in Greece had generated support for the Asian currency as traders sold off risky assets in Europe as fears grew that a solution wouldn’t be reached to cure the country’s deficit issues. A new drastic plan of austerity helped give markets enough confidence for the troubled nation to put together a successful bond sale. The ability to address their deficit issue through issuing debt set the stage for the sharp yen reversal as markets waited for the labor report before taking any significant new positions. Yen crosses caught up with climbing stock markets to re-establish the strong correlation between them. 

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Japanese Yen at Risk On Risk Appetite and Expected Monetary Easing

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Japanese Yen at Risk On Risk Appetite and Expected Monetary Easing    Fundamental Forecast for Japanese Yen: Bearish   – Jobless rate fell to 4.9% from 5.1% – Capital spending in the 4Q declined 17.3%, bettering expectations of -18.4% – Yen plunges most since early December   After seeing steady gains throughout the week, the Yen was battered following a better than expected U.S. Non-farm payroll report. USD/JPY soared over 200 pips to erase of all of the week’s losses for the pair which had diverged from rising equity markets prior to the move. Troubles in Greece had generated support for the Asian currency as traders sold off risky assets in Europe as fears grew that a solution wouldn’t be reached to cure the country’s deficit issues. A new drastic plan of austerity helped give markets enough confidence for the troubled nation to put together a successful bond sale. The ability to address their deficit issue through issuing debt set the stage for the sharp yen reversal as markets waited for the labor report before taking any significant new positions. Yen crosses caught up with climbing stock markets to re-establish the strong correlation between them. 

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USD/JPY Could Present Scalping Opportunity Ahead Of Non-Farm Payrolls

The USD/JPY broke out today as yen crosses have come under pressure as risk assets fund support on the back of a Greek plan to cut its deficit and an improvement in US initial jobless claims. A dour U.S. pending home sales report has slowed the advance and may be the beginning of a period of consolidation. The upcoming Non-Farm payroll report is major event risk which could lead to a quieting of the pair’s price action, as it has been the most sensitive to U.S. fundamental data.    

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USD/JPY Could Present Scalping Opportunity Ahead Of Non-Farm Payrolls

Here’s an interesting a:1:{i:0;s:8:”TVRreQ==”;} post from DailyFX:

The USD/JPY broke out today as yen crosses have come under pressure as risk assets fund support on the back of a Greek plan to cut its deficit and an improvement in US initial jobless claims. A dour U.S. pending home sales report has slowed the advance and may be the beginning of a period of consolidation. The upcoming Non-Farm payroll report is major event risk which could lead to a quieting of the pair’s price action, as it has been the most sensitive to U.S. fundamental data.    

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Yen’s Divergence with Risk Appetite Could Present Opportunity for Traders

The Yen continues to find support despite a slight rebound in equity markets and the fact that the two have a 65% correlation. I took a shorter term perspective to show the split in price action which could be an opportunity as we can see that the USD/JPY and the Dow had been in lock step during the month prior to the divergence.

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Yen’s Divergence with Risk Appetite Could Present Opportunity for Traders

Here’s an interesting a:1:{i:0;s:8:”TVRreQ==”;} post from DailyFX:

The Yen continues to find support despite a slight rebound in equity markets and the fact that the two have a 65% correlation. I took a shorter term perspective to show the split in price action which could be an opportunity as we can see that the USD/JPY and the Dow had been in lock step during the month prior to the divergence.

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AUD/JPY Range Passes Eye Test

The RBA raised rates for a fourth time at a time when other central bank’s remain at record lows, making the Australian dollar the undisputed high yielder. Paired with the yen-which is becoming the funding currency of choice- makes this the clear carry trade pair. Therefore, risk trends will have considerable sway over price action and must be taken into consideration when trading the AUD/JPY.

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AUD/JPY Range Passes Eye Test

Here’s an interesting a:1:{i:0;s:8:”TVRreQ==”;} post from DailyFX:

The RBA raised rates for a fourth time at a time when other central bank’s remain at record lows, making the Australian dollar the undisputed high yielder. Paired with the yen-which is becoming the funding currency of choice- makes this the clear carry trade pair. Therefore, risk trends will have considerable sway over price action and must be taken into consideration when trading the AUD/JPY.

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AUD/JPY Range Passes Eye Test

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USD/JPY’s Test Of Major Support Could Present Scalping Opportunity

 The USD/JPY has been under pressure on the day as Greece’s credit rating is at risk again of another downgrade. If this were the case then Greek government bonds would no longer be eligible as collateral at the European Central Bank, making it more difficult for the nation to borrow. In the current environment it is challenging to execute a scalping strategy; therefore we will try and anticipate the development of an ideal situation. Dollar/yen is threatening a major support level which could slow its bearish momentum leading to a period of consolidation creating an opportunity for a high frequency strategy.

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USD/JPY’s Test Of Major Support Could Present Scalping Opportunity

From DailyFX:

 The USD/JPY has been under pressure on the day as Greece’s credit rating is at risk again of another downgrade. If this were the case then Greek government bonds would no longer be eligible as collateral at the European Central Bank, making it more difficult for the nation to borrow. In the current environment it is challenging to execute a scalping strategy; therefore we will try and anticipate the development of an ideal situation. Dollar/yen is threatening a major support level which could slow its bearish momentum leading to a period of consolidation creating an opportunity for a high frequency strategy.

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Japanese Yen Continues to Outperform, Australian Dollar Hits Fresh Weekly Low

The Japanese Yen rallied across the board as investors scaled back their appetite for risk, while the Australian dollar pared the previous day’s advance and slipped to a fresh weekly low of 0.8808.

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Japanese Yen Continues to Outperform, Australian Dollar Hits Fresh Weekly Low

Here’s an interesting a:1:{i:0;s:8:”TVRreQ==”;} post from DailyFX:

The Japanese Yen rallied across the board as investors scaled back their appetite for risk, while the Australian dollar pared the previous day’s advance and slipped to a fresh weekly low of 0.8808.

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Japanese Yen Continues to Outperform, Australian Dollar Hits Fresh Weekly Low

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Dollar, Yen Surge as S&P Sinks Risky Assets with Greek Downgrade Threat

The US Dollar and Japanese Yen advanced against major currencies after Standard & Poor’s said it may lower Greece’s credit rating again by the end of March, sparking flight from risky assets that is likely to carry into European trade.

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Dollar, Yen Surge as S&P Sinks Risky Assets with Greek Downgrade Threat

From DailyFX:

The US Dollar and Japanese Yen advanced against major currencies after Standard & Poor’s said it may lower Greece’s credit rating again by the end of March, sparking flight from risky assets that is likely to carry into European trade.

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Japanese Yen Rallies Across the Board, New Zealand Dollar Weighed by Risk Aversion

The Japanese Yen rallied across the board following the rise in risk aversion and is the best performing currency against the greenback on Tuesday, while the New Zealand dollar looks poised to test the 200-Day SMA at 0.6929 as it fails to retrace the decline from earlier this month.

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Japanese Yen Rallies Across the Board, New Zealand Dollar Weighed by Risk Aversion

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The Japanese Yen rallied across the board following the rise in risk aversion and is the best performing currency against the greenback on Tuesday, while the New Zealand dollar looks poised to test the 200-Day SMA at 0.6929 as it fails to retrace the decline from earlier this month.

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