Daily Analysis: 16 Apr 2019

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JPY

Fundamental Analysis

(16th Apr): China, the world’s second largest economy exports and credit data provided indication of stabilization in the economy, easing concerns of the global growth outlook. Dollar-denominated exports rose 14.2% on year, exceeding economists’ expectations of 7.3%. Meanwhile, trade talks between US and Japan are going well as Japanese Economy Minister Toshimitsu Motegi confirmed that new bilateral trade talks would proceed. These coupled with the recent upbeat in economic data and optimism on trade negotiations’ progress between US and China boosted risk sentiment, deflating investors’ appetite for the safe haven currency. However, the upside in risk appetite is limited as BOJ Governor Haruhiko Kuroda flagged increasing trade protectionism as one of the key risks faced by the global economy. Markets traded with caution while awaiting the data release on China GDP and German’s ZEW economic index to provide more confidence that the global growth is picking up. This is reflected in our ┬átechnical analysis where JPY is testing our first resistance and we can expect a reversal below this level.

 

 

(15th Apr): Markets calmed down on Friday and the risk-on mood has pushed safe-haven currencies USD and JPY lower. China is to release the critical quarterly GDP number, which is likely to show a rebound after the slowdown. If this happens, this could boost the risk sentiment in the market and keep a cap on safe-haven JPY.

 

 

 

Technical Analysis

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USD

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Fundamental Analysis

(16th Apr): Treasuries steadies and the dollar edged up against a basket of its key rivals today with investors erring on the side of caution as they looked for more concrete signs of stabilisation in the global economy. Central bank remain in focus, with Chicago Fed President Charles Evans, who currently sees rate … [/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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