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.

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
Subscribe
Please try again
EUR/USD
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
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
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 0.82% Gold: 0.27% Oil - US Crude: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/mbJ4BR6WeP
  • EU Drug Regulator: Benefits of J&J vaccine outweigh risks.
  • World Bank: Sees global commodity prices remaining firm around current levels in 2021 after Q1 recovery.
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.55%, while traders in Germany 30 are at opposite extremes with 80.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/tEAXFbZw1C
  • Canada extends Covid travel restrictions, only allowing essential travel to and from the US until May 21st. $USD $CAD
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Silver: 0.30% Oil - US Crude: 0.08% Gold: 0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/husHdqWE1m
  • USD contrarian properties fade as short squeeze stabilises. GBP/USD remains the largest bull bet. Get your market update from @JMcQueenFX here:https://t.co/M76KY0jys3 https://t.co/9pkAItCOkl
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: US 500: -0.35% Wall Street: -0.41% Germany 30: -0.97% FTSE 100: -1.15% France 40: -1.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/0jQtVfHvdH
  • $NZDUSD hit a one month high today as the pair strengthened to the 0.7230 level. It met resistance at this level and has since headed slightly lower, falling back to support around 0.7200. $NZD $USD https://t.co/v6rUigaL18
  • Russia are reportedly amassing troops in South in response to Nato - IFX
Japanese Yen Q3 Fundamental Outlook, Dow Jones and S&P 500 Eyed

Japanese Yen Q3 Fundamental Outlook, Dow Jones and S&P 500 Eyed

Daniel Dubrovsky, Strategist

Japanese Yen, Anti-Risk, Wall Street, Coronavirus, Q3 Outlook – TALKING POINTS

The Japanese Yen, known for its anti-risk trading dynamics, heads into the third quarter closely glued to broader market sentiment. On the chart below is my majors-based JPY index overlaid with my Wall Street index. Generally speaking, the two tend to have an inverse relationship.

As central banks around the world maintain a dovish tone to support economic growth hindered by the coronavirus outbreak, JPY is left potentially vulnerable as the Dow Jones, S&P 500 and Nasdaq Composite continue finding upside momentum.

Fiscal policy is more uncertain, especially as a gradual recovery from Covid-19 may reduce the urgency for more support and reintroduce political hurdles. Just this past week, the Democrat-lead US House of Representatives passed a US$1.5 trillion infrastructure package that is likely to be vetoed by President Donald Trump.

Delays to much-needed support could reintroduce volatility, opening the door to swift Yen appreciation. This is as US coronavirus cases rise at record daily amounts as of late and certain states take measures to reverse or halt lockdown-easing measures. Ahead, Canada’s jobs report will further inform global growth expectations.

JPY Forecast
JPY Forecast
Recommended by Daniel Dubrovsky
Read the Q3 Yen outlook for the full story!
Get My Guide

Japanese Yen Versus Wall Street – Daily Chart

Japanese Yen Forecast

Chart Created Using TradingView

*Majors-Based Japanese Yen Index Averages JPY vs: USD, AUD, GBP and EUR

*Wall Street Index Averages S&P 500 Futures, Dow Jones Futures and Nasdaq 100 Futures

--- 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