John Hardy, head of FX strategy at Saxo Group, thinks that the Bank of Japan (BoJ) may initiate a 'reasonably sized stimulus measure' before implementing helicopter money. This could happen after the US election as the BoJ needs to feel comfortable before the next phase of quantitative easing can begin.... Show More
The US dollar lost its safe haven play last week when it encountered major resistance from its 200 days moving average level, according to Saxo Capital Markets Sydney-based trader James Kim. In the next few days, the US Dollar Index might be testing re-entering the channel it broke during the... Show More
Aussie market started negative in the first hour before a decent recovery to half the losses through the day. We see the worst of the Brexit selling is done while the risk remains as UK and EU start a prolonged slow path to separation. As with any break up, it... Show More
Saxo Bank’s chief economist and CIO Steen Jakobsen maintains a critical view on Japan’s so-called ‘Three Arrows’ plan. He says when the programme was introduced by Japanese Prime Minister Shinzo Abe in late 2012, it was easy to see why the legend of the three arrows would fit with Japan’s... Show More
Next week is crunch time for the USDJPY. On Wednesday the US FOMC updates its assessment of monetary policy, and on Thrusday the Bank of Japan (BOJ) releases updated economic forecasts. Either event on its own could cause the USDJPY to break out of its sideways pattern. Max McKegg, managing... Show More
A downward trend might just be on the verge for the US Dollar against the Japanese yen (USDJPY). The greenback has broken below the base of the daily ichimoku cloud three times in the past three trading days, but without closing outside of it. If it so happens to do... Show More
The Australian dollar and Japanese yen (AUDJPY) currency pair could be embarking on a downward trend, according to a combination of Elliott Wave analysis and more standard charting techniques. And because of the correlation between the AUDJPY currency pair and the ASX200 index - as you can see from the... Show More
