ONLINE FOREX BROKER
2019-11-11 • Updated
USD/JPY dropped to 108.90 as investors fled high-risk assets amid geopolitical tensions among North Korea and Syria. The US dollar suffered additional losses after Donald Trump said in his Wall Street Journal interview that he prefers a low-interest rate policy and that a strong dollar would ultimately hurt US economy. Overall, sharp losses for global stocks, Trump’s willingness to talk down the USD and aggravation of numerous political conflicts offered a significant boost to the yen.
Next week, geopolitical tension sparked in the Middle East and Korean peninsula will still be supportive for the yen. On April 15, traders will be keeping a closer eye on the North Korean Day of the Sun holiday as another launch of missiles is expected. This might result in additional gains for the yen on next Monday. Japan’s economic calendar is light with Bank of Japan Governor Kuroda’s speech and trade balance data coming on Thursday. The latter one should be improving after an eventful April. A great package of statistical releases will come out of the United States next week. Watch for empire state manufacturing index on Monday, building permits, housing starts, capacity utilization rate – on Tuesday and manufacturing figures – on Thursday. Another key event to focus on is the speech of Treasury Secretary Mnuchin scheduled for April 20, 8:15 pm MT time. He might touch upon the border-adjustment tax and incoming fiscal policies. Towards the end of the week, the US dollar might get a chance to recoup some of its earlier losses. Investors will realize that a weaker USD is unattainable goal for the President willing to introduce pro-growth policies. Also, we should bear in mind the fact that the Fed remains resolutely independent from the government. So, on Friday, the FOMC member Kashkari might try to convince market participants that the Fed will definitely hike if it sees additional signs of improving US economic conditions.
On the technical chart of USD/JPY, a strong support at 108.85 doesn’t allow quotes to slide lower. Its break will allow us to target 107.70 (November 15 low) and 106.50 (61.8% Fibo level traced from last year low) levels. On the upside, we see some firm resistances at 109.85, 111.10 (38.2% Fibo level) and 112.20 (March 31 high).
Oil prices rebounded slightly on Friday but are still expected to show losses for the week due to concerns about slowing growth in the US and China. US crude futures rose 2.7% to $70.41 per barrel, while the Brent contract increased by 2.5% to $74.33 per barrel.
China's economy is rocketing. On the other hand OPEC+ countries take the decision to cut the production. What will be the impact on the oil price?
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
