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
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
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
Gold
Bullish
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
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Technology stocks continue to be a source of weakness for US equities, undermining risk appetite. Meanwhile, US-China tensions simmer beneath the surface creating uncertainty. Get your #equities update from @PeterHanksFX here: https://t.co/yH8oTwT3iW https://t.co/tvfrXThyaC
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/Xi9QU3ADPF
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/cQwbeZ6Feq
  • #Oil prices saw a reprieve to the recent selling pressure but remain at risk while below downtrend resistance. Here are the levels that matter on the #WTI technical chart. Get your #commodities update from @MBForex here: https://t.co/CcXsF3JCMH https://t.co/RUmS1cX52v
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/5uSWKoLkd6 https://t.co/boEI8RuQdC
  • The growth-linked New Zealand Dollar may rise on the upcoming #RBNZ rate decision following rosy economic data. However, downside potential in the S&P 500 could offset $NZDUSD gains. Get your #currencies update from @ddubrovskyFX here: https://t.co/LfCe6C6G3P https://t.co/kUeBxxeaEf
  • It was a quiet week in Aussie as $AUDUSD put in its second consecutive week of indecision. But taking a more granular look highlights the potential for a reversal scenario. Get your #currencies update from @JStanleyFX here: https://t.co/PPK20nubAf https://t.co/0nfmRRFNnz
  • The S&P 500 pushed the market's comfort with a head-and-shoulders pattern through Friday's close. What should we look for in technical patterns, overlapping fundamental tides and speculative positioning for the likes of $EURUSD next week? https://www.dailyfx.com/forex/video/daily_news_report/2020/09/19/EURUSD-Pressure-Building-while-Anxious-Traders-Weigh-Did-SP-500-Break.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/lgVJVwi8th
  • Sterling remains trapped by overarching fundamentals drivers and both $GBPUSD and $EURGBP are going to have to wait until the Brexit dust settles. Get your #currencies update from @nickcawley1 here: https://t.co/vF1K1cy0nd https://t.co/NSA7qiQihc
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:https://t.co/1oygcFMFNs https://t.co/d9EmTOHyTv
US June Business Inventories Slow While Sales Plummet; USDJPY Weakens

US June Business Inventories Slow While Sales Plummet; USDJPY Weakens

2012-08-14 14:28:00
Tzu-Wen Chen, Technical Strategist
Share:

THE TAKEAWAY: [US business inventories rose in June at slowest pace in nine months, while sales plummeted] > [Companies likely to place fewer orders amid decline in sales] > [USDJPY bearish]

U.S. business inventories rose in June at the slowest pace in nine months while sales plummeted, signaling further weakness at American factories. The Commerce Department released a report today that showed that inventory stockpiles edged up by 0.1 percent in June, following a 0.3 percent gain in May. The consensus forecast of economists surveyed by Bloomberg news had projected a 0.2 percent increase in inventories. Meanwhile, sales fell 1.1 percent in June, the sharpest decline since March 2009.

With the slump in sales and weakening global economies continuing to weigh on household spending, companies are likely to place fewer orders in the near term as they attempt to keep stockpiles in line with sales. On the other hand, another report released today by the Commerce Department revealed that retail sales in the U.S. rebounded in July. Retail sales jumped 0.8 percent in July after declining 0.7 percent the previous month, which could be a possible sign of a rebound for the economy in coming months.

USDJPY 1-minute Chart: August 14, 2012

US_June_Business_Inventories_Slow_While_Sales_Plummet_USDJPY_Weakens_body_Picture_1.png, US June Business Inventories Slow While Sales Plummet; USDJPY Weakens

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

The U.S. dollar fell against the Japanese yen ahead of the release of the business inventories report, amid market anticipation for weaker data. The greenback remained lower in the minutes following data release, and at the time that this report was written, the USDJPY pair was trading at 78.80 yen to the dollar.

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

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

DISCLOSURES