ForexEzy
No Result
View All Result
  • Top Forex Advisors
    • Best Forex Robots
    • Best Forex Signals
    • Best Managed Accounts
  • Top Forex Brokers
    • Best Forex Brokers
    • US Forex Brokers
    • UK Forex Brokers
    • MT4 Forex Brokers
    • MT5 Forex Brokers
    • Zero Spread Brokers
    • Best PayPal Brokers
    • TradingView Brokers
    • Social Trading Platforms
  • Top Review Platforms
  • Forex Education
    • Getting Started
    • Forex Basics
    • Forex Trading Strategies
    • Money Management
    • Risk Management
    • Technical Analysis
    • Fundamental Analysis
    • Trading Psychology
    • Social Trading
    • Automated Trading
  • Forex Tools
    • Forex Robots
    • Forex Indicators
    • Forex Signals
    • Forex VPS
  • Forex Forecast
  • Crypto
    • Best Crypto Exchanges
    • Best Crypto Bots
    • Crypto Guides & Forecasts
  • Top Forex Advisors
    • Best Forex Robots
    • Best Forex Signals
    • Best Managed Accounts
  • Top Forex Brokers
    • Best Forex Brokers
    • US Forex Brokers
    • UK Forex Brokers
    • MT4 Forex Brokers
    • MT5 Forex Brokers
    • Zero Spread Brokers
    • Best PayPal Brokers
    • TradingView Brokers
    • Social Trading Platforms
  • Top Review Platforms
  • Forex Education
    • Getting Started
    • Forex Basics
    • Forex Trading Strategies
    • Money Management
    • Risk Management
    • Technical Analysis
    • Fundamental Analysis
    • Trading Psychology
    • Social Trading
    • Automated Trading
  • Forex Tools
    • Forex Robots
    • Forex Indicators
    • Forex Signals
    • Forex VPS
  • Forex Forecast
  • Crypto
    • Best Crypto Exchanges
    • Best Crypto Bots
    • Crypto Guides & Forecasts
No Result
View All Result
ForexEzy
No Result
View All Result
The World’s Leading Social Trading Platform
Try now
Home Forex Market Commentary

East or West — EUR/JPY and USD/CNY Weekly Outlook

by Tim Baudin
April 9, 2021
in Forex Market Commentary
0
East or West — EUR/JPY and USD/CNY Weekly Outlook
0
SHARES
11
VIEWS
Share on FacebookShare on Twitter
  • The US adding seven Chinese companies to the economic blacklist threatens to spark risk aversion.
  • The Japanese yen strengthens despite new stringent measures being called to curb new infections.
  • Gold is struggling for direction near three-week highs as dollar strength bites back.

The US dollar is headed for its worst weekly performance. Even on an advisory panel, the yen continues to strengthen across the board, agreeing to Tokyo’s extra virus measures. On the other hand, the Chinese yuan has remained resilient, supported by a plethora of positive economic releases that affirm growth in the second-largest economy.

The euro finds it tough going near two-week highs against the dollar as a safe-haven demand threatens to trigger renewed dollar strength. On the other hand, the Australian dollar remains under pressure amid a warning from the Reserve Bank of Australia.

The Best Forex Robots Report Is Already Here!
best forex robots
Check out 30+ best expert advisors with daily updated live results and statistics
Click Here

US-China tension

Relations between the US and China are poised to take center stage heading into the weekend. The US commerce department adding seven Chinese supercomputing entities to the economic blacklist over security concerns threatens to rattle Beijing.

Concerns about how Beijing will react are already fuelling risk aversion, forcing investors to rush for safety in safe-havens. The dollar looks set to be one of the beneficiaries after remaining under pressure in recent days amid retreating treasury yields.

USD/CNY chart

In contrast, the Chinese yuan has continued to hold firm against the dollar. Impressive economic data has continued to offer support to the yuan. For instance, March’s Chinese CPI data came in at 0.4% against $0.3% expected and prior 0.2%. PPI was also up to 4.4% marking the biggest pace increase since 2018 from 1.7%.

EUR/JPY rally under pressure

The euro, which has been on a fine run in recent days against the dollar, is under immense pressure against the Japanese yen. The EUR/JPY pair is struggling to rise higher after bouncing off 1-week lows. A slide back to one-week lows looks to be on the cards on upside action losing momentum.

EUR/JPY rally under pressure

The yen is holding firm against the euro even on Japan Chief cabinet secretary Kato reiterating that an expert panel has agreed firmer measures to curb a spike in COVID-19 infections in Tokyo, Kyoto Okinawa.

Some of the new measures expected to take a significant toll on an economy struggling with one of the biggest slowdowns in recent years include bringing forward the closing time for restaurants and bars. The new measures come barely three weeks after the relaxation of a state of emergency.

AUD/USD under pressure

The AUD/USD pair has been in consolidation mode, struggling to edge higher amid weakness in the greenback. The pair faces defining moments the next few days as it closes in on a descending trendline.

AUD/USD Under Pressure

The pair needs to hold above a 100 simple moving average if rally past the descending line. Any weakness on the downtrend support line could result in the pair edging lower. The latest tailwind weighing heavily on the AUD is a warning from the Reserve Bank of Australia indicating that house prices could rise significantly. However, a spike in oil prices and mild gains on the S&P 500 continent offer support against downside action.

Gold upward momentum fading

In the commodities market, Gold appears to have hit a strong resistance near the $1,760 level. The precious metal has been fine run in recent days after bottoming off one-month lows near the $1,676 level. However, the metal appears to be testing a critical resistance level that could trigger a consolidation wave.

Gold upward momentum fading

The catalyst behind the impressive gold run in recent days is Treasury Yields losing ground on dovish comments from the Federal Reserve Chair. Worse than expected, initial jobless claims data have also weighed heavily on the greenback resulting in a spike in the yellow metal to three weeks highs.

The Best Forex Robots Report Is Already Here!
best forex robots
Check out 30+ best expert advisors with daily updated live results and statistics
Click Here
ShareTweet
Previous Post

What to Consider When Venturing Into Full-Time Trading

Next Post

Forex Gump Review

Related Posts

Gold Price Forecast: Here Are the Catalysts to Watch

Gold Price Forecast: Here Are the Catalysts to Watch

by Tim Baudin
May 31, 2022
0

Gold price will likely remain range-bound until a catalyst arises in the form of the scheduled economic data.Investors await the...

Bitcoin Price Prediction After the Hawkish Fed Decision

Bitcoin Price Prediction After the Hawkish Fed Decision

by Chintan Patel
January 27, 2022
0

The Bitcoin (BTCUSD) price erased some of the gains made earlier this week as the market reacted to the latest...

USDJPY Range Bound Below 114.00 as NZDUSD Sell-off Persists Below 0.6700

USDJPY Range Bound Below 114.00 as NZDUSD Sell-off Persists Below 0.6700

by Adam Stanley
January 25, 2022
0

US dollar strengthens to two-week highs.USDJPY bounces off one-month lows.NZDUSD sell-off persists. The US dollar bounced back to two-week highs...

USDJPY Forecast as BoJ Retains Interest Rates

USDJPY Forecast as BoJ Retains Interest Rates

by Tim Baudin
January 18, 2022
0

Bank of Japan retains interest rates at -0.1%.US Treasury yields are still rising, thus helping cushion the dollar.Rising oil prices...

Market Analysis: AUDUSD Breakout Looms and USDJPY Tanks on Dollar Weakness as Oil Prices Rally on Supply Concerns

Market Analysis: AUDUSD Breakout Looms and USDJPY Tanks on Dollar Weakness as Oil Prices Rally on Supply Concerns

by Chintan Patel
January 17, 2022
0

US Dollar under pressure after a pullback.AUDUSD breakout looms on dollar weakness.USDJPY bounce back stalls.Oil prices rally on supply concerns.Cryptocurrencies...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Best Forex Automated Systems

  • TechBerry 9/10
  • Happy Galaxy 8.5/10
  • Forex Cyborg 8.5/10
  • Forex Fury 8/10
  • FXgoodway 7.5/10
  • Best Forex Brokers
  • Best Forex Robots
  • Best Forex Signals
  • Best Forex Managed Accounts

Top Trading Markets

We are dedicated to demystify the world of forex trading for you – no matter what level you are on.

Categories
  • Automated Trading
  • Crypto Robot Review
  • Cryptocurrency Trading
  • Day Trading
  • Forex Basics
  • Forex Brokers
  • Forex Education
  • Forex Forecasts
  • Forex Indicators
  • Forex Market Commentary
  • Forex Robots
  • Forex Signals
  • Forex Signals
  • Forex Tools
  • Forex Trading Strategies
  • Forex VPS
  • Fundamental Analysis
  • Managed Accounts
  • Money Management
  • News
  • Review
  • Review Platforms
  • Risk Management
  • Social Trading
  • Technical Analysis
  • Top World Traders
  • Trading Apps
  • Trading Psychology
  • Uncategorized
Tags
Acquisition AI Amazon Apple Artificial Intelligence Bitcoin bond yields CEO China earnings earnings report economy Electric Vehicles Federal Reserve financial performance Financial Results forex ea forex software reviews Growth Guidance Housing Market inflation interest rates Investing investment Investors Market Volatility merger mortgage rates net profit Nvidia Oil prices Q2 Results revenue Revenue Growth Sales sales growth Stock Futures stock market stock performance Stocks strategies technology Tesla Video
  • Terms of Use
  • Privacy Policy
  • Compensation Disclosure
  • Risk Disclosure
  • About Us
  • Contact Us

Copyright © 2023 by ForexEzy.com

No Result
View All Result
  • Top Forex Advisors
    • Best Forex Robots
    • Best Forex Signals
    • Best Managed Accounts
  • Top Forex Brokers
    • Best Forex Brokers
    • US Forex Brokers
    • UK Forex Brokers
    • MT4 Forex Brokers
    • MT5 Forex Brokers
    • Zero Spread Brokers
    • Best PayPal Brokers
    • TradingView Brokers
    • Social Trading Platforms
  • Top Review Platforms
  • Forex Education
    • Getting Started
    • Forex Basics
    • Forex Trading Strategies
    • Money Management
    • Risk Management
    • Technical Analysis
    • Fundamental Analysis
    • Trading Psychology
    • Social Trading
    • Automated Trading
  • Forex Tools
    • Forex Robots
    • Forex Indicators
    • Forex Signals
    • Forex VPS
  • Forex Forecast
  • Crypto
    • Best Crypto Exchanges
    • Best Crypto Bots
    • Crypto Guides & Forecasts

© 2023, Forexezy. {copy} {year}