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.

Free Trading Guides
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
More View more
Real Time News
  • What is your #tradingstyle? Take the quiz and let us know: https://t.co/LPBOcS0Vtd https://t.co/l6FvtcADEH
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia from @DavidCottleFX here: https://t.co/E2hqoRdO7q https://t.co/dnrAMFK4U2
  • Geopolitical developments send #oil prices soaring or falling. Get your market update from @MartinSEssex here:https://t.co/XVXLyG8vjq #OOTT https://t.co/RMk5Eb5fLU
  • Negative yielding government bonds – What are they telling us? Find out from @nickcawley1 here: https://t.co/F6JuhmrvPT https://t.co/KdpSjQSJ8F
  • #Euro area stocks may be preparing to break the four-month uptrend built around hopes for a US-China trade deal and an orderly #Brexit outcome. Get your market update from @IlyaSpivak here: https://t.co/ujlCJiXLvh https://t.co/INdFtsrTTF
  • What is the top market moving theme for the coming week? I disagree with the majority. '$EURUSD, $GBPUSD and $AUDUSD Top Volatility Candidates With #Fed, #Election, #TradeWar' https://www.dailyfx.com/forex/video/daily_news_report/2019/12/07/EURUSD-GBPUSD-and-AUDUSD-Top-Volatility-Candidates-On-Fed-Election-Trade-War.html?CHID=9&QPID=917719 https://t.co/Q1dbZVN5Us
  • The Australian Dollar was focused on its home country in the past week, but that is likely to change sharply in the days ahead with major global risk events coming up. Get your $AUDUSD market update from @DavidCottleFX here: https://t.co/yZz3hCyVMx https://t.co/1xw1JHwd7l
  • The #Euro broke chart resistance, threatening to challenge the bounds of its longer -term downtrend against the $USD. Bulls may find it premature to celebrate however. Get your market update from @IlyaSpivak here: https://t.co/VfR13llYbW https://t.co/LiWTvIygxc
  • The $USD appears to be stalling against the Singapore Dollar, Malaysian Ringgit, Indonesian Rupiah and Philippine Peso, but technical analysis may still favor USD strength. Get your market update from @ddubrovskyFX here:https://t.co/AZp98MoXKo https://t.co/jgZMUFVGJB
  • The Indian Rupee soared after the Reserve Bank of India surprised with a rate hold. $USDINR may climb as support reinstates the uptrend ahead of Indian CPI and global trade tensions. Get your market update from @ddubrovskyFX here:https://t.co/QEOabsDfMn https://t.co/rqn8Zjrvkv
Japanese Yen May Be On The Verge Of Longer-Term Bearish Trend

Japanese Yen May Be On The Verge Of Longer-Term Bearish Trend

2010-03-29 12:06:00
John Rivera, Currency Analyst

The move raises the question of whether the longer-term bullish trend that has been expected is underway. Also adding to the Asian currency’s downfall was increasing speculation that the BoJ will ease monetary policy further as consumer prices fell 1.2% in February, marking a full year of deflation. Yen weakness gave a boost to shares of exporters as demand for Japanese goods is expected to rise as they become cheaper. The Merchandise Trade Balance in February widened to 651 billion yen from 63 billion the month prior as exports jumped 45.3% from a year earlier. Demand from abroad helped bring an end to the country’s recession as it posted growth of 1.1% in the fourth quarter, but falling prices threatens the recovery and increases the potential for a double dip recession.

The minutes from the February’s Bank of Japan monetary policy meeting were released and revealed conflicting views over the economy.  Several members were saw risks becoming balanced while others still see “considerable” downside risks.  The hot button topic continues to be deflation which generated calls for policy makers to “act swiftly and decisively”. The cenral bank is expecting prices to continue falling into 2012 which has solidified the Yen’s status as the funding currency as the BoJ is expected to remain on hold until price growth returns. Although other central banks are still far from tightening, they have begun to lay the growudwork for a future rate hike with most forecasted to begin by year’s end.

The Japanese fundamental calendar typcially offers very little event risk and this week may be no different. However, the Tankan large manufacturers survey is closely watched and the expected improvement to -8 from -18 could raise some doubts over the central banks urgency to take additional measures. Nonetheless, the main driver of price action will be risk sentiment and with the U.S. labor report expected to show joib growth of 195K, we could see a surge in optimism. At the very least the outlook for a Fed rate hike will improve which should be a supportive factor for the dollar. -JR

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


News & Analysis at your fingertips.