News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: France 40: 0.09% Germany 30: 0.06% US 500: -0.16% Wall Street: -0.18% FTSE 100: -0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/tBZqKf1RaO
  • $USDCHF fell to an intraday low around the 0.9230 level today, hitting a fresh three week low. The pair rose to its highest level since July in early April before turning back downwards amidst increased US Dollar weakness. $USD $CHF https://t.co/7aHWGea4Ta
  • $WTI Crude Oil hit its highest point in nearly a week this morning, rising to trade at the 60.00 level for the first time since last Tuesday. Oil has struggled to move higher in April after hitting pandemic highs in early March. $OIL $USO https://t.co/kblvNhNIEU
  • Heads Up:🇬🇧 BoE Tenreyro Speech due at 13:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-04-12
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.77%, while traders in France 40 are at opposite extremes with 76.94%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/xcAJAhXppm
  • LIVE NOW: Join Technical Strategist @MBForex for his Weekly Strategy Webinar to review the setups we're tracking into the weekly open! https://t.co/chKtG7waxH
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here: https://t.co/1oeXWEsJkb https://t.co/oj85t8RI6W
  • The US Dollar is remaining weaker into the new week, with the $DXY currently trading around 92.10. After hitting a multi month high above 93.00 in late March, the Dollar Index has headed lower amidst a pause in the rise in US yields. $USD https://t.co/SFhi4bTX8k
  • Weekly Strategy Webinar starting in 15mins on DailyFX! https://t.co/lxd5fZnn4H
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.36% 🇯🇵JPY: 0.27% 🇨🇭CHF: 0.07% 🇦🇺AUD: 0.05% 🇪🇺EUR: 0.02% 🇨🇦CAD: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/pj3UWUxrrO
USD/JPY Uptrend at Key Resistance Before BoJ, CAD Trims Drop on BoC

USD/JPY Uptrend at Key Resistance Before BoJ, CAD Trims Drop on BoC

Daniel Dubrovsky, Strategist

Asia Pacific Market Open Talking Points

Trade all the major global economic data live as it populates in the economic calendar and follow the live coverage for key events listed in the DailyFX Webinars. We’d love to have you along.

FX News Wednesday

Like yesterday, the US Dollar and Japanese Yen were the best-performing majors. These currencies can at times benefit during instances of risk aversion. Wall Street ended the day lower. The S&P 500 fell 0.22% in a day that contained mixed earnings reports from Boeing and Caterpillar with Facebook and Microsoft leading the better-than-expected pack. US front-end government bond prices rose into Wall Street open.

While the Canadian Dollar took an initial hit on the latest BoC rate decision, my index of CAD (see chart below) trimmed most of its losses by the end of the day. While the central bank dropped its rate hike bias, Governor Stephen Poloz reiterated their data-dependent approach during his press conference. In fact, he said that interest rates are more likely to rise than fall if the forecasts are right, undermining cut expectations.

CAD Index: Average Versus USD, EUR, JPY, GBP

USD/JPY Uptrend at Key Resistance Before BoJ, CAD Trims Drop on BoC

Chart Created in TradingView

Thursday’s Asia Pacific Trading Session

S&P 500 futures are pointing a little higher ahead of Thursday’s Asia Pacific trading session, perhaps bolstered by upbeat Facebook and Microsoft earnings which crossed the wires in after-hours trade. If this translates into gains for the Nikkei 225 or ASX 200, we may see the pro-risk Australian and New Zealand Dollars trim their losses over the past 24 hours. AUD/USD was especially weak following dismal CPI data.

At an unspecified time later today, we will get the Bank of Japan monetary policy announcement. Inflation is still well below their desired 2% price target with rates still negative alongside yield curve control measures. As such, their policy-setting tolls are likely to remain unchanged.

But, the central bank is facing increasing external headwinds as Prime Minister Shinzo Abe is expected to deliver the remaining portion of promised sales tax hikes in October. With that in mind, the Yen will be closely eyeing commentary from Governor Haruhiko Kuroda.

USD/JPY Technical Analysis

Ahead of the BoJ, USD/JPY is sitting right under key resistance at 112.31. The pair is being guided higher by a rising support line from the ‘flash crash’ in early January. This comes after climbing above the descending trend lines from the end of last year which has opened the door to testing December 2016 resistance. How USD/JPY behaves at 112.31 may determine its next major target.

USD/JPY Daily Chart

USD/JPY Uptrend at Key Resistance Before BoJ, CAD Trims Drop on BoC

Chart Created in TradingView

FX Trading Resources

--- Written by Daniel Dubrovsky, Junior Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES