Trade of the week from Mitsubishi UFG
Analysts at MUFG recommend selling USD/JPY at spot with a target of 1036.80 and a stop at 107.60.
„The USD/JPY rate has fallen sharply today and we see scope for that extending over the coming weeks,“ they wrote on Friday. „The FOMC meeting next week is also likely to be

Hanna was upgraded from a tropical storm to a hurricane on Saturday by the US National Hurricane Center.
The most recent update has it pushing west from the Gulf towards the Texas coast

Another reason to sell the US dollar
There is no set date for the Treasury’s FX manipulation report but it is due out soon and analysts at JPMorgan says it may contain a message for the Swiss.

NASDAQ down for the 2nd week in a row
US major indices are ending the session with declines. For the week each of the major indices are also lower. It was the 1st negative week for the Dow and S&P in 4 weeks. For the NASDAQ is on a 2 week losing streak. The NASDAQ led

Forex news for near trading on July 24, 2020
In other markets:
– Spot Gold rose above the $1900 level for the 1st time since September 2011 and move closer to the all-time high price from the same calendar month at $1921. The precious metal is trading at $1901.58 that’s up $14.14 or 0.75%. The high price reached

Pres. Trump having a „come to Jesus“ moment
and a remorseful comment:
Meanwhile Trump’s campaign manager Stepien comments to reporters:
Click to watch clips of the interview with David Portnoy of the Barstool Sports BLOG. I hope he did not go into his cognitive test results story?

Weekly FX speculative positioning data from the CFTC
– EUR long 125K vs 111K long last week. Longs increased by 14K
– GBP short 15K vs 14K short last week. Shorts increased by 1K

Speaking live from the White House

Forex news from the European trading session – 24 July 2020
Headlines:
Markets:
– JPY leads, AUD lags on the day
– European equities lower; E-minis down 0.3%

Comments by Japanese prime minister, Shinzo Abe
– Coronavirus cases are rising, government is watching closely
It is clear that the virus situation across the country is not getting any better as the curve is steepening as the days go by. Japan reported a single day record of 980 new virus cases yesterday, with infections also picking