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
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
More View more
Real Time News
  • 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
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true.Simplify your trading strategy with these four indicators here:https://t.co/A4dqGMPylo https://t.co/xqbUxwWgTZ
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/Gi8LHCT5sB
  • The AB=CD pattern is simple once you know how to spot it and draw the proper Fibonacci retracements. Make your trading strategy as simple as ABCD here: https://t.co/AKmlmaAZBS https://t.co/FFmRYyx4ou
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here: https://t.co/aVAzFypAg1 https://t.co/r7aJb4qpqc
  • 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: https://t.co/ERyiY47G5H https://t.co/fIGDaDW21V
  • ...even more incredible is net speculative futures positioning in $EURUSD, rounding off from a record net long position...and it hasn't even cleared 1.20... https://t.co/SfyYTMTT1x
  • Net speculative futures positioning in the Dollar (here overlaid with the $DXY) has pushed to extreme levels commensurate to the levels in Oct 2017 and April 2018 https://t.co/JqHGgVUCqc
  • The $SPX closed below the 50-day moving average Friday. The first time it has done so in 103 trading days. The 'technical' end of an exceptional run: https://t.co/HUn5Q6JmlK
  • Despite recent weakness in the #SP500, the growth-linked New Zealand Dollar has been gaining momentum ahead of the #RBNZ next week Could this trend continue, or will $NZDUSD capitulate to the mercy of risk trends? Check out my fundamental outlook - https://www.dailyfx.com/forex/fundamental/forecast/weekly/nzd/2020/09/19/New-Zealand-Dollar-Outlook-NZDUSD-May-Rise-on-RBNZ-Watch-SP-500.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/34vcR4fjpT
USDJPY Climbs As U.S. Leading Economic Indicators Rebound in July

USDJPY Climbs As U.S. Leading Economic Indicators Rebound in July

2012-08-17 14:30:00
Tzu-Wen Chen, Technical Strategist
Share:

THE TAKEAWAY: [US leading economic indicator rebounds in July] > [Building permits rise, jobless claims drop] > [USDJPY bullish]

The index of U.S. leading economic indicators rebounded more than forecast in July, as housing permits rose and new claims for jobless benefits fell. The Conference Board’s gauge of the outlook for the next three to six months climbed 0.4 percent in July after a downwardly revised 0.4 percent decline the previous month. The consensus forecast of 46 economists surveyed by Bloomberg News had projected a 0.2 percent rise.

The improvement in economic outlook was led by a drop in jobless claims and a pickup in home-building permits, each of which contributed a 0.18 percentage point gain. The improvement in permits falls in line with a report released on Thursday by the Commerce Department, which showed that building permits climbed in July to its fastest annual rate in four years. Stock prices also advanced, gaining 0.10 percent after declining for three straight months.

Despite the better-than-expected reading, the outlook for economic growth remains “sluggish”, as labor market conditions and consumer spending remain subdued.

USDJPY 1-minute Chart: August 17, 2012

USDJPY_Climbs_As_U.S._Leading_Economic_Indicators_Rebound_in_July__body_Picture_2.png, USDJPY Climbs As U.S. Leading Economic Indicators Rebound in July

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

In the minutes after the Conference Board’s report, the U.S. dollar strengthened against the Japanese yen, adding to gains that followed the release five minutes earlier of a better-than-expected reading of the University of Michigan confidence index. At the time this report was written, the USDJPY was trading at 79.51 yen.

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

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

DISCLOSURES