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
Oil - US Crude
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
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here:
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here:
  • Rollover is the interest paid or earned for holding a currency spot position overnight. Learn how to earn rollover interest on your open positions here:
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here:
  • Get our analysts’ view on the key fundamentals for indices in Q2. Download now.
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here:
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
Japanese Yen Has Scope to Extend Gains on Global Slowdown Fears

Japanese Yen Has Scope to Extend Gains on Global Slowdown Fears

Ilya Spivak, Head Strategist, APAC
Japanese_Yen_Has_Scope_to_Extend_Gains_on_Global_Slowdown_Fears_body_Picture_5.png, Japanese Yen Has Scope to Extend Gains on Global Slowdown Fears

Fundamental Forecast for Japanese Yen: Bullish

The Japanese Yen managed to regain its footing last week as global stock prices recorded their worst performance in over three months. The move played to the Yen's appeal as a safe-haven asset, sought for its abundant liquidity and store-of-value properties (courtesy of near-zero inflation). It also transmitted into price action via the Yen's inverse link to Treasury bond yields, which pulled back as risk aversion likewise sought refuge in US government debt. Looking ahead, the currency appears likely to find its way higher still as these forces will be put to work in the context of an economic calendar packed with heavy-weight releases.

Markets spent the first three months of the year putting to bed the near-term threat of a credit crunch courtesy of the Eurozone debt crisis. As we enter the second quarter, the outlook for global economic growth is reasserting its position as the dominant driver of financial markets, and the picture is far from rosy. By most estimates the single currency area – collectively the world’s largest economy – is already in recession. This is echoing in a marked slowdown in China, a regional powerhouse and the world’s third most significant growth engine, for whom the regional bloc is its largest export market. The sole bright spot is the US, where a cautious recovery appears to be gaining a bit of momentum, with the top question on investors’ mind being to what extent a healthier North America can offset malaise elsewhere.

With that in mind, the week begins on a dour note, with China expected to report that factory-sector activity slowed in March over the weekend. Final revisions Eurozone manufacturing and services PMI figures over the same period are expected to confirm both sectors contracted while the unemployment rate rose to 10.8 percent, the highest on record. Meanwhile, US data is likely to continue struggling to outperform relative to expectations. The ISM manufacturing gauge is expected higher but the risk of a downside surprise seems significant after broad-based disappointment on leading activity surveys released last week. The service-sector ISM component is expected to show moderation later in the week while minutes from the March FOMC sit-down are likely to mirror the relatively upbeat tone of the policy statement as well as surrounding commentary, sinking QE3 bets. Finally, the closely-watched Nonfarm Payrolls print is set to show the economy added just 205,000 jobs in March, the least in four months.

On balance, this points to continued Yen gains. The increasing inability of US economic data to generate positive data surprises overlaid with reinforcement of already acute fears about slumping output elsewhere stands to reapply downward pressure on risk appetite and encourage haven flows into the Japanese unit. While the FOMC minutes might have been a headwind previously, their implications for the slowly dissipating cap on Treasury yields have had ample time to be priced in already and the spotlight is likely to fall on the negative growth implications of fading stimulus prospects.

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