April 7, 2021 2:45 AM PDT
USD/JPY takes the bids around 110.62, the highest level in one year,
amid the initial hour of Tokyo open on Wednesday. The risk barometer
recently gained amid upbeat forecasts over US President Joe Bidens
upcoming infrastructure plans. Also favoring the bulls could be the
broad US dollar strength, backed by the US Treasury yields rally to
early 2020 peak.To get more news about [url=https://www.wikifx.com/my_en/]Best Hedging Strategies[/url], you can visit wikifx.com official website.
The chatters suggesting no major tax hikes in US President Biden‘s
infrastructure spending proposal recently crossed wires and favored the
risks. Additionally, Biden’s push for faster US vaccines and American
readiness to re-discuss the nuclear deal with Iran also brighten the
sentiment.
It should be noted, however, that the UK‘s push to get tough on China
and the United Nations (UN) inaction on North Korea’s missile test weigh
on the mood. Additionally, allegations over stealing thousands of the
US State Departments' data on Russia join American dislike for Beijings
play in Hong Kong politics and delay in elections to heavy the
sentiment.
Amid these plays, US 10-year Treasury yield wobbles around January
2020 high whereas S&P 500 Futures print 0.17% intraday gains even as
Wall Street closed on the mildly negative side the previous day.
Talking about the data, preliminary readings for Japan‘s February
month Industrial Production recovered from -5.2% YoY prints to -2.6%.
It’s worth mentioning that the US CB Consumer Confidence rose to a years
high the previous day and favored the US dollar index (DXY) to poke the
late November 2020 top.
Moving on, US ADP Employment Change for March, expected 500K versus
117K, can offer intermediate directions to the USD/JPY prices ahead of
US President Bidens speech around 16:20. Also important will be the
headlines affecting the risk, mainly concerning the coronavirus
(COVID-19) in Europe and Australia as well as China-linked news.
Technical analysis
A clear break above the downward sloping trend line from October 2018,
around 110.35 by the press time, favor USD/JPY bulls to aim for the
111.00 threshold during the further rise.
USD/JPY takes the bids around 110.62, the highest level in one year,
amid the initial hour of Tokyo open on Wednesday. The risk barometer
recently gained amid upbeat forecasts over US President Joe Bidens
upcoming infrastructure plans. Also favoring the bulls could be the
broad US dollar strength, backed by the US Treasury yields rally to
early 2020 peak.To get more news about [b][url=https://www.wikifx.com/my_en/]Best Hedging Strategies[/url][/b], you can visit wikifx.com official website.
The chatters suggesting no major tax hikes in US President Biden‘s
infrastructure spending proposal recently crossed wires and favored the
risks. Additionally, Biden’s push for faster US vaccines and American
readiness to re-discuss the nuclear deal with Iran also brighten the
sentiment.
It should be noted, however, that the UK‘s push to get tough on China
and the United Nations (UN) inaction on North Korea’s missile test weigh
on the mood. Additionally, allegations over stealing thousands of the
US State Departments' data on Russia join American dislike for Beijings
play in Hong Kong politics and delay in elections to heavy the
sentiment.
Amid these plays, US 10-year Treasury yield wobbles around January
2020 high whereas S&P 500 Futures print 0.17% intraday gains even as
Wall Street closed on the mildly negative side the previous day.
Talking about the data, preliminary readings for Japan‘s February
month Industrial Production recovered from -5.2% YoY prints to -2.6%.
It’s worth mentioning that the US CB Consumer Confidence rose to a years
high the previous day and favored the US dollar index (DXY) to poke the
late November 2020 top.
Moving on, US ADP Employment Change for March, expected 500K versus
117K, can offer intermediate directions to the USD/JPY prices ahead of
US President Bidens speech around 16:20. Also important will be the
headlines affecting the risk, mainly concerning the coronavirus
(COVID-19) in Europe and Australia as well as China-linked news.
Technical analysis
A clear break above the downward sloping trend line from October 2018,
around 110.35 by the press time, favor USD/JPY bulls to aim for the
111.00 threshold during the further rise.
