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
Oil - US Crude
Mixed
Wall Street
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
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Global stock markets may see turbulent volatility if darkening clouds over Washington’s relations with Beijing turn into a geopolitical storm. Which assets will be the lifeboat? Find out here:https://t.co/RkFI6qAyik https://t.co/40ScG8COhW
  • Will be discussing the Dow Jones and S&P 500 as retail trader signals hint bearish potential Starts in 30 minutes! https://t.co/CYP4r5v5oK
  • RT @FxWestwater: Australian Dollar Outlook: Inflationary Theme in Spotlight as $AUDUSD Sputters Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/05/11/Australian-Dollar-Outlook-Inflationary-Theme-in-Spotlight-as-AUDUSD-Sputters.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co…
  • Please join @ddubrovskyFX at 20:00 EST/00:00 GMT for a webinar on what other traders' buy/sell bets say about price trends. Register here: https://t.co/mwYyGmK1Gf https://t.co/mvc5ajVaCh
  • 🇰🇷 Unemployment Rate (APR) Actual: 3.7% Previous: 3.9% https://www.dailyfx.com/economic-calendar#2021-05-11
  • All 9 Dow Jones sectors ended lower, with 90% of the index’s constituents closing in the red. Energy (-2.62%), financials (-2.43%) and consumer discretionary (-1.82%) were among the worst performers, while materials (-0.23%) registered small losses. https://t.co/4jHdCZ1NuL
  • RT @ZabelinDimitri: What could go wrong?! https://t.co/c6CLYsCN1d
  • Heads Up:🇰🇷 Unemployment Rate (APR) due at 23:00 GMT (15min) Previous: 3.9% https://www.dailyfx.com/economic-calendar#2021-05-11
  • (Tech Special) British Pound Analysis: GBP/USD, EUR/GBP. GBP/JPY in Focus After Sterling’s Jump $GBPUSD $EURGBP $GBPJPY #GBP #Sterling https://www.dailyfx.com/forex/technical/article/special_report/2021/05/11/British-Pound-Analysis-GBPUSD-EURGBP-GBPJPY-in-Focus-After-Sterlings-Jump.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/HkYBanDOXd
  • The British Pound gained aggressively, placing the focus on levels that may send GBP/USD and GBP/JPY lower, with EUR/GBP still open to a turn higher. Will Sterling’s advance continue? Get your $GBP market update from @ddubrovskyFX here:https://t.co/PHoCHVc20M https://t.co/IBKnW68wv2
Forex: Fed November Beige Book Shows Economy Grew at "Measured Pace"; USD/JPY Strengthened

Forex: Fed November Beige Book Shows Economy Grew at "Measured Pace"; USD/JPY Strengthened

Renee Mu, Currency Analyst

THE TAKEAWAY: Fed’s Beige Book released > Overall economic activity expanded at “measured pace”; Consumer spending and employment increased, while manufacturing weakened > [USD/JPY Strengthened]

The latest Federal Reserve Beige Book, which was released today, revealed that the U.S. economy “expanded at a measured pace” across all twelve Fed, with seven of districts citing growth at a modest pace. However, because of Hurricane Sandy, New York and two other districts reported weaker conditions in October and November.

The Beige Book report, which is usually released two weeks before the Federal Open Market Committee (FOMC) meets to set monetary policy, offers anecdotal evidence that helps policy makers assess the condition of the economy and actions going forward.

Most of the Fed’s twelve regional banks indicated an improvement in consumer spending, while manufacturing softened due to seven districts under contraction. Residential and commercial real estate was reported to gain slightly in general. In transportation, reports were mixed as hurricane Sandy slowed shipments in some districts.

On the labor market, employment conditions were modest improved in most districts while wage pressure remained ‘subdued’ over the board. In addition, almost every district described price growth as modest despite of occasionally examples with higher price growth in raw materials.

This latest edition follows the release of the Fed’s November monetary policy meeting minutes last week. The minutes revealed that many members saw economic outlook as little changed since their September decision and favored more quantitative easing since operation twist is due to expire next month.

USDJPY 1-minute Chart: November 28, 2012

The U.S. dollar strengthened against most its major currency counterparts in the minute after the release of the Fed Beige Book. As can be seen from one-minute chart above, the USD/JPY pair rose to 81.91 yen from 81.88 yen in the minutes preceding the report. At the time this report was written, the USD/JPY pair was trading at 81.86 yen.

--- Written by Renee Mu, DailyFX Research

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

DISCLOSURES