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. See our updated Privacy Policy here.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Wall Street
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
More View more
Real Time News
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here:
  • While the meetings of central bankers in the US, Japan and the UK will be front, left and center of traders’ minds this coming week, it would be wise not to ignore next Sunday’s German Federal Election. Get your euro forecast from @MartinSEssex here:
  • Take a closer look visually at the most influential global importers and exporters here:
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • GBP/USD’s consolidation could end soon if price breaks out of a symmetrical triangle in play since July. At this time, a downside breakout is likely following the appearance of a death cross. Get your weekly $GBP forecast from @DColmanFX here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • The Federal Reserve rate decision is likely to sway the near-term outlook for the price of gold as the central bank appears to be on track to scale back monetary support. Get your weekly gold forecast from @DavidJSong here:
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
Japanese Yen Support Gives as US Tariff Threats Sink Wall Street

Japanese Yen Support Gives as US Tariff Threats Sink Wall Street

Daniel Dubrovsky, Strategist

Asia Pacific Market Open Talking Points

  • Wall Street ended worst week this year as US-China trade war fears consumed markets
  • Anti-risk Japanese Yen outperformed and may continue to do so as Asia stocks decline
  • USD/JPY downtrend may resume deeper into flash-crash lowsafter taking out support

Not sure where the Japanese Yen is heading next? Check out the third quarter fundamental and technical forecast!

Anti-Risk Japanese Yen Crushes It as Trade War Fears Boil

The anti-risk Japanese Yen and Swiss Franc outperformed against their major counterparts as Wall Street wrapped up its worst week this year. While the S&P 500 dropped nearly ¾ of a percent on Friday, it was European benchmark stock indexes that fared the worst. The Euro Stoxx 50 and DAX tumbled 3.26% and 3.11% respectively.

The source of anguish in financial markets stemmed from an escalation in US trade tensions with the world. Markets were digesting intention from President Donald Trump to slap an additional $300b in Chinese import tariffs on September 1. Meanwhile across the Atlantic Ocean, European markets were trembling ahead of Mr Trump’s statement on EU trade.

It turned out that President Trump signed an agreement to make access for beef exporters to the EU easier. Shortly afterwards however, he added that EU auto tariffs “are never off the table”. Some of the worst-performing majors were the pro-risk Australian and New Zealand Dollars. The US Dollar had a mixed session, falling against JPY and CHF, but doing better against AUD and NZD.

In this case, trade war fears worked to overpower market reaction to Friday’s US jobs report. It was a mixed bag with the country adding fewer jobs than expected as unemployment rose, but wage growth saw an uptick alongside labor force participation. The markets are now fully anticipating another Fed interest rate cut in September to help offset the consequences of higher taxes consumers may expect from the tariffs.

USD/JPY Technical Analysis

This resulted in USD/JPY closing at its lowest since April 2018 after it cleared a critical psychological barrier between 106.78 and 107.21. As such, the Japanese Yen may extend gains against the US Dollar ahead as it looks to confirm a long-term bearish continuation pattern outlined in the third quarter technical forecast. Given downside confirmation, we may see USD/JPY descend further into January “flash crash” lows.

USD/JPY Daily Chart

Japanese Yen Support Gives as US Tariff Threats Sink Wall Street

Chart Created in TradingView

Monday’s Asia Pacific Trading Session

As Wall Street wrapped up on Friday, Donald Trump said that he could raise tariffs on China to a “much higher number”. As such, we may see Asia Pacific benchmark stock indexes follow lower in continued risk aversion. This would support the fundamental backdrop for continued appreciation in the Japanese Yen. The Australian Dollar is thus vulnerable, with it also eyeing Caixin China PMI services data ahead.

Unfamiliar with past trade wars? Check out our guide, A Brief History of Trade Wars

FX Trading Resources

--- Written by Daniel Dubrovsky, Currency Analyst for

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.