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
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
  • RT @BrendanFaganFx: IBEX 35 Analysis: Rally Continues Despite Virus Fears, Focus Shifts to Fed Link:…
  • RT @FxWestwater: Asia AM - Australian Dollar Forecast: $AUDUSD May Rise on Chinese Industrial Profits Link: https:…
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here:
  • 🇰🇷 GDP Growth Rate QoQ Adv (Q2) Actual: 0.7% Expected: 0.7% Previous: 1.7%
  • 🇰🇷 GDP Growth Rate YoY Adv (Q2) Actual: 5.9% Expected: 6% Previous: 1.9%
  • 🇰🇷 GDP Growth Rate QoQ Adv (Q2) Actual: 0.7% Expected: 0.7% Previous: 1.7%
  • Heads Up:🇰🇷 GDP Growth Rate QoQ Adv (Q2) due at 23:00 GMT (15min) Expected: 0.7% Previous: 1.7%
  • Heads Up:🇰🇷 GDP Growth Rate YoY Adv (Q2) due at 23:00 GMT (15min) Expected: 6% Previous: 1.9%
  • (Weekly Technical) Australian Dollar Outlook Still Biased Lower: AUD/USD, AUD/JPY, AUD/NZD, AUD/CAD #AUD $AUDUSD $AUDJPY $AUDNZD $AUDCAD
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
USDJPY Rises Despite Slowing US Manufacturing Expansion in July

USDJPY Rises Despite Slowing US Manufacturing Expansion in July

Tzu-Wen Chen, Technical Strategist

THE TAKEAWAY: [Markit PMI shows U.S. manufacturing expansion slowed in July] > [Manufacturing slows as global slowdown restrains demand for U.S. goods] > [USDJPY strengthens]

U.S. manufacturing activity expanded in July at its slowest pace in 19 months, with a report released today by the London-based Markit group showing that its Markit Economics index of U.S. manufacturing fell to 51.4 in July from 52.5 in June. A reading above 50 in the purchasing managers’ measure indicates expansion. Economists surveyed by Bloomberg News had expected the final reading for July to remain unchanged from its initial reading of 51.8.

The manufacturing industry appears to be stagnating as a slowdown in global economic activity continues to dampen demand for American exports and weaken business conditions in the U.S. At the same time, American consumers are curbing their spending and businesses are holding off on purchasing equipment.

The Institute for Supply Management (ISM) will publish its own manufacturing survey later this morning. Last month the ISM reported an unexpected contraction in manufacturing activity, following 33 consecutive months of expansion. Economists are expecting the ISM survey to show stagnated activity in July.

USDJPY 1-minute Chart: August 1, 2012

USDJPY_Rises_Despite_Slowing_US_Manufacturing_Expansion_in_July___body_Picture_2.png, USDJPY Rises Despite Slowing US Manufacturing Expansion in July

Chart created using Market Scope – Prepared by Tzu-Wen Chen

In the minutes after release of the Markit survey results, the U.S. dollar rose slightly against the yen, extending earlier gains following better-than-forecast ADP employment data. At this time this report was written, the USDJPY was trading higher at 78.20 yen.

--- Written by Tzu-Wen Chen, DailyFX Research

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