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
EUR/USD
Bearish
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
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
Bearish
GBP/USD
Bearish
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
USD/JPY
Mixed
More View more
Real Time News
  • 🇳🇿 Electronic Retail Card Spending MoM (JUL) Actual: 1.1% Expected: 13.8% Previous: 16.3% https://www.dailyfx.com/economic-calendar#2020-08-10
  • 🇳🇿 Electronic Retail Card Spending YoY (JUL) Actual: 11.4% Previous: 8% https://www.dailyfx.com/economic-calendar#2020-08-10
  • Regarding these headlines in top Google business news today and seemingly everyday: why is it always 'This One Indicator' when they say a market is about to revive a strong trend or at the cusp of a reversal. Nuance is lost on us nowadays
  • Trump press briefing: - I don't know if I want to make a deal with China - BBG
  • The US Dollar is testing key support levels against the Singapore Dollar, Malaysian Ringgit, Philippine Peso and Indonesian Rupiah following persistent losses. Get your #ASEAN currencies market update from @ddubrovskyFX here: https://t.co/qqYDELqydd https://t.co/BVqdV6DddV
  • Heads Up:🇳🇿 Electronic Retail Card Spending MoM (JUL) due at 22:45 GMT (15min) Expected: 13.8% Previous: 16.3% https://www.dailyfx.com/economic-calendar#2020-08-10
  • Heads Up:🇳🇿 Electronic Retail Card Spending YoY (JUL) due at 22:45 GMT (15min) Previous: 8% https://www.dailyfx.com/economic-calendar#2020-08-10
  • Market snapshot: US equity futures pointing lower after Trump was rushed out of the White House briefing room following a shooting.
  • Reports that there was a shooting outside of the White House that abruptly ended the President's briefing. He has since returned to the press room
  • USD/MXN is in a near-term consolidation just below multi-month slope resistance – the immediate focus is on a break of the monthly opening-range for guidance. Get your $USDMXN technical analysis from @MBForex here:https://t.co/6BVM2hikEM https://t.co/M86eSD3bcB
USD/JPY and AUD/USD Outlook Bearish as Trade War Fears Resurface

USD/JPY and AUD/USD Outlook Bearish as Trade War Fears Resurface

2019-10-31 23:00:00
Daniel Dubrovsky, Analyst
Share:

Asia Pacific Market Open Talking Points

Find out what the #1 mistake that traders make is and how you can fix it!

Japanese Yen Gains as Australian Dollar Sinks, US-China Trade War Fears Resurface

The anti-risk Japanese Yen outperformed as the sentiment-linked Australian Dollar tumbled on Thursday amid a distinct deterioration in market mood. During the European session, China was said to have doubted the possibility of long-term trade deal with the United States, unwilling to budge on key large structural changes. This undermines the recently agreed “phase one” deal the two sides reached earlier this month.

During the US session, risk appetite further deteriorated on disappointing economic data. The Chicago Business Activity PMI report clocked in at 43.2 in October versus 48.0 expected and 47.1 in August. For PMI surveys, readings under 50 indicate increasingly contracting economic conditions. In today’s case, this was the softest outcome since 2015 despite hopes of a US-China trade deal rising this month.

The haven-linked US Dollar was little changed on opposing fundamental forces; rising Fed rate cut bets versus the demand for safe and liquid assets. The latter sent the S&P 500 lower as it struggled to sustain recently achieved record highs. Risk aversion spread offshores as well, with the MSCI Emerging Markets Index showing increasing signs of a top.

Friday’s Asia Pacific Trading Session

S&P 500 futures are now pointing lower heading into Friday’s Asia Pacific trading session, hinting that the pessimism from Wall Street may spread into regional markets. That may extend gains in the Japanese Yen while leaving the AUD/USD and NZD/USD vulnerable. Softening Caixin China Manufacturing PMI data later today risks further deteriorating investor confidence.

Japanese Yen Technical Analysis

USD/JPY tumbled the most in over two months following a Spinning Top that emerged earlier this week – as expected. This has brought the currency pair to the floor of a Rising Wedge formation, which is typically a bearish reversal formation. A breakout to the downside risks overturning the dominant JPY uptrend that has prevailed since the end of August.

Chart of the Day – USD/JPY Daily

USD/JPY and AUD/USD Outlook Bearish as Trade War Fears Resurface

Chart Created Using TradingView

FX Trading Resources

--- Written by Daniel Dubrovsky, 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

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.