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.



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
Oil - US Crude
Wall Street
More View more
Real Time News
  • Heads Up:🇯🇵 Unemployment Rate (SEP) due at 23:30 GMT (15min) Expected: 3.1% Previous: 3.0%
  • - #Biden is leading in the polls but a last-minute surprise could be in the cards - #Covid-19 case spike, fiscal stalemate souring sentiment and derailing outlook - #AUDUSD puncturing support at 0.7018 may open the door to further declines
  • The Dow Jones will look to earnings from Apple, which was once the largest component of the index. Get your #Dowjones market update from @PeterHanksFX here:
  • The Indian Rupee may weaken following a breakout higher in USD/INR. Despite rising global stock market volatility, the Nifty 50 has been holding its ground. Could it capitulate lower? Find out from @ddubrovskyFX here:
  • Relief rally ahead for $AUDNZD? Bullish RSI divergence at key psychological support (1.0600) suggests a rebound back towards the 21-MA (1.0626) and 50-MA (1.0659) could be on the cards Conversely, a break below 1.0590 probably opens the door for further losses. $AUD $NZD
  • WTI Crude Oil fell to a fresh four-month-low this morning. This fresh low broke through range support that’s held for the better part of two months. Get your #crudeoil technical analysis from @JStanleyFX here:
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.02% 🇳🇿NZD: -0.16% 🇦🇺AUD: -0.25% 🇬🇧GBP: -0.42% 🇨🇭CHF: -0.59% 🇪🇺EUR: -0.62% View the performance of all markets via
  • Nasdaq futures pivot sharply lower in the wake of earnings from $AMZN, $GOOGL, $FB and $AAPL, which comprise over 35% of the tech-heavy index collectively. $NQ_F $NDX still trading positive on the day.
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.13% Silver: -0.55% Gold: -0.57% View the performance of all markets via
  • Apple earnings: EPS $0.73 vs $0.71 est Revenue $64.70B vs est $63.47B $AAPL
Yen May Extend Gains as Market Sentiment Sours

Yen May Extend Gains as Market Sentiment Sours

2017-05-12 08:06:00
Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Yen outperformed amid risk aversion in Asian trade
  • S&P 500 futures hint more of the same is due ahead
  • Euro unmoved after as-expected German GDP data

The Japanese Yen outperformed in otherwise quiet Asian trade as stocks declined, boosting demand for the perennially anti-risk currency. The New Zealand Dollar proved weakest on the session. Prices fell with local bond yields, hinting the move was continuation of RBNZ-inspired momentum.

The Euro was understandably unmoved after first-quarter German GDP figures crossed the wires. Not only did the numbers register squarely in line with expectations, but their limited implications for near-term ECB monetary policy trends probably meant that they were always going to fall on deaf ears.

From here, a seemingly potent offering of US economic data seems unlikely to inspire much activity. CPI, retail sales and consumer confidence numbers are all due to cross the wires but with the probability of a June Fed rate hike already priced in at 100 percent, their impact may be minimal.

This creates an opening for sentiment trends to remain at the forefront. S&P 500 futures are looking increasingly negative in early European hours, hinting at a risk-off bias once Wall Street comes online. That suggests the Yen is likely to remain on the offensive into the week-end.

Rhetoric emerging from the on-going meeting of G7 finance ministers in Bari, Italy may erode confidence further. While the thorny issue of international trade is off the agenda, sideline commentary underscoring lingering deadlock between US officials and their counterparts may sour investors’ mood.

Retail traders are betting on a stronger Yen. Find out here what that hints about the price trend!

Asia Session

Yen May Extend Gains as Market Sentiment Sours

European Session

Yen May Extend Gains as Market Sentiment Sours

** All times listed in GMT. See the full DailyFX economic calendar here.

--- Written by Ilya Spivak, Currency Strategist for

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

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