Daily Analysis: 10 Apr 2019

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JPY

Fundamental Analysis

(10th Apr): The JPY rallied when the market turned risk-off yesterday after IMF downgraded the economic forecast. S&P 500 slipped amid revived worries over the global economy. The risk aversion was later relieved by the Australian RBA Governor’s speech. It is more likely that the JPY could edge lower as the risk sentiment increases and drives capital away from the safe haven.

 

 

(9th Apr): The market is more or less showing a weak risk-on sentiment, reflected in Asian stocks closing in green. However, the risk-on sentiment is capped by many risk events this week including Brexit talks and trade talks. The market is currently showing optimism about the outcome but is reluctant to take a bid in risky assets. JPY could tick lower amid the risk-on sentiment, though in a weak format. This is in line with our technical analysis showing more downside before a possible bounce.

 

 

(8th Apr): Last week, trade deal negotiations were going positive between the US and China after Chinese delegates comprised of Vice Premier Liu He visited Washington. There were reports last week that an agreement is 90% complete, with the remaining issues including enforcement mechanisms and the removal of trade tariffs still in discussions. This could still benefit the risk appetite, though slightly weakly, and dent JPY slightly for this week’s trading. This bearish bias echoes our technical analysis showing more downside as the yen index is approaching the resistance area.

 

 

 

Technical Analysis

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USD

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Fundamental Analysis

(10th Apr):  USD moved sideways amid the mixed risk sentiment yesterday and steadies ahead of the ECB and US CPI data to be released tonight. The Fed’s latest projection for the US economy, released at the March 20th FOMC meeting, reduced the personal consumption price index (PCE) estimate for 2019 to 1.8% from 1.9% and kept core PCE stable at 2%. The print is likely to show robust growth and could indicate a stable trend in U.S. retail sales and domestic… [/blur][/vc_column_text][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” background_animation=”none” css_animation=””][vc_column][vc_empty_space height=”35px”][vc_row_inner row_type=”row” type=”full_width” use_row_as_full_screen_section_slide=”no” text_align=”left” css_animation=””][vc_column_inner width=”1/5″][/vc_column_inner][vc_column_inner width=”3/5″][vc_separator type=”normal” color=”#b70909″ border_style=””][/vc_column_inner][vc_column_inner width=”1/5″][/vc_column_inner][/vc_row_inner][vc_empty_space height=”35px”][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” background_animation=”none” css_animation=””][vc_column width=”1/5″][/vc_column][vc_column width=”3/5″][kswr_heading head_align=”center” head_subtitle_color=”#333333″ head_title=”ACCESS RESTRICTED” head_title_fsize=”font-size:23px;line-height:2;” head_title_fstyle=”font-family:Inherit;font-weight:700;” head_subtitle_fsize=”font-size:17px;line-height:1.5;” head_subtitle_fstyle=”font-family:Inherit;font-weight:inherit;” head_title_margins=”margin-top:0px;margin-bottom:0px;” head_subtitle_margins=”margin-top:0px;margin-bottom:0px;”]Our comprehensive daily reports covers both technical and fundamental analysis, and are customised to your requirements.

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