Merrill Lynch: USD/JPY to Test 14-Year Low

July 21, 2010 at 11:22 UTC || By Forex Playmaker
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Merrill Lynch: USD/JPY to Test 14-Year Low

The US dollar may trade at a 14-year low against the Japanese yen, as diverging monetary policies between the Federal Reserve and the Bank of Japan take hold, according to Bank of America Merrill Lynch. The Fed may take additional easing steps in its monetary policy decisions, owing to a US economy that has, in… Continue Reading

Tags: Bank of America, Bank of Japan, BNP Paribas, boj, fed chairman bernanke, Federal Reserve, Global Economy, Japanese Yen, Merrill Lynch, usd jpy

WSJ: Japan Frustrated by Firm Yen

March 15, 2010 at 00:10 UTC || By Forex Playmaker
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The Wall Street Journal reports that Japan’s new government remains frustrated by an ever strengthening Yen: Japan’s stubbornly strong currency is becoming a source of frustration for the country’s new administration, and a source of confusion for many traders. Prime Minister Yukio Hatoyama tried to weaken the yen Friday through the unusual step of talking… Continue Reading

Tags: Bank of Japan, Japanese Yen, JPY

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Global Market Briefs
- Gold Prices Surge From Early Lows
  July 20th 12:11 UTC || Forex Playmaker
  
  Gold contracts have surged off their session lows, as traders look for a partial hedge amid aversion to risk. Gold is last priced at $1,191.25 per ounce, gaining more than $15 from the session lows near $1,175.
- Equities Markets Remain Off Session Lows
  July 20th 12:08 UTC || Forex Playmaker
  
  Despite earnings misses by Goldman Sachs, Texas Instruments and IBM, equities markets remain well off their session lows, though still lower across the board. The Dow and Nasdaq are each lower by over 0.70% while the S&P 500 is lower by 0.50%.
- Equities Markets Slightly Higher On Weak Trade
  July 19th 11:23 UTC || Forex Playmaker
  
  Equities markets are slightly higher at this hour, following Friday’s violent selloff of riskier assets. The Dow, S&P 500 and Nasdaq are each higher by around 0.20% after briefly flirting with negative territory earlier in the session.
- Crude Oil Dips Below $75; Support Nearby
  July 12th 16:29 UTC || Forex Playmaker
  
  Crude oil is trading below the $75 per barrel mark at this hour, last priced at $74.80. Upcoming support at $74.39 will be key if further rallies are to follow in the short-term. Upward resistance will be found near $76.50.
- US Equities Slightly Lower
  July 12th 12:01 UTC || Forex Playmaker
  
  The major US indexes are slightly lower at this hour, as investors take profits from the recent run up in share prices. The Dow is lower by 0.26% while the S&P 500 and Nasdaq are each lower by by better than 0.40%.