Market news
11.09.2019, 06:20

EUR/JPY, USD/JPY: the low of this cycle is not in yet - SocGen

Societe Generale Research maintains a structural bearish bias on USD/JPY and EUR/JPY targeting the 2 pairs at 105 and 115.50 respectively by year-end.

 "First things first: This is a correction to an outsized move in yields during August, not a turn in the trend. Last Friday's US labour market data show, clearly enough for me, that the US economy is slowing slowly but steadily as the global trade slowdown infects it. The US economy is less vulnerable to global trade than Germany's, but it's not immune and it can't rely on the equity market to bail it out for ever. The world will drag the US economy down and Bund yields will drag Treasury yields down. Finally, a chart of old friends re-united as USD/JPY re-correlates with relative 10-year yields. The more US yields rise, the higher USD/JPY can go. We don't believe we've seen the lows for this cycle, in US yields, relative yields, USD/JPY or even EUR/JPY," SocGen adds.

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location