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.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
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
Gold
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
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • The US Dollar could rise against #ASEAN currencies such as the Singapore Dollar as US-China tensions seem to escalate. The Indian Rupee is also looking ahead of local 1Q GDP data. Get your ASEAN currencies market update from @ddubrovskyFX here:https://t.co/LkEFJViPWY https://t.co/ZGFaQQ3Hr2
  • The #Euro is the big driver here for DXY as it is 57% of the index. It is rising now and trying to break above the March 27 high at 11147. Get your $EURUSD technical analysis from @PaulRobinsonFX here:https://t.co/6gt3F9LuGP https://t.co/73SaL5AeXD
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/EIC9YqfTec
  • Anybody else think that casting directors in movies are some of the most underrated people when it comes to giving a film/series credit?
  • No https://t.co/EoBltaP17k
  • Crude #oilprices may face heightened liquidation pressure as the cycle-sensitive #commodity finds itself under the pressure of resilient resistance and a vulnerable, multi-week rising channel. Get your crude #oil market update from @ZabelinDimitri here: https://t.co/cGPX4qcOH1 https://t.co/0U4JMJVFuf
  • The @ecb will likely boost its Pandemic Emergency Purchase Program at Thursday’s meeting of its Governing Council; a move that could give the #Euro a lift. Get your currencies market update from @MartinSEssex here: https://t.co/I4PbmJNG1z https://t.co/hu6Ld1KdDB
  • $GBPUSD doesn’t have the cleanest set of technical indications, but #USD may give indications if it can break its trading range via the $DXY. Get your currencies market update from @PaulRobinsonFX here: https://t.co/PrC9wAaXvU https://t.co/vHYHflwqR3
  • The ongoing contraction in US production may keep #oilprices afloat in June as crude output falls to its lowest level since October 2018. Get your crude #oil market update from @DavidJSong https://t.co/jj1bMLX0DF https://t.co/O9NOqbfHkb
  • watching the #SpaceX launch🍿
Yen Surges After G7 Clarifies Earlier Statement; USD/JPY Tanks

Yen Surges After G7 Clarifies Earlier Statement; USD/JPY Tanks

2013-02-12 14:30:00
Christopher Vecchio, CFA, Senior Strategist
Share:

THE TAKEAWAY: USD Durable Goods Orders (JAN) > -5.2% versus -4.8% expected, from +3.7% (revised from +4.6%) (m/m); Durables ex Transportation (JAN) > +1.9% versus +0.2% expected, from +1.0% (revised from +1.3%) (m/m) > USDJPY BEARISH

Despite higher taxes on consumers resulting from the US fiscal cliff deal, it appears that consumption figures remain solid amid sturdy business investment. The headline Durable Goods Orders print missed the projected contraction, to -5.2% m/m, but the ‘core’ reading, stripped of transportation, cruised by forecasts, at +1.9% m/m.

The strong ex-transportation figure suggests that consumers and businesses remain strong in the face of an uncertain tax future, with the next round of automatic budget cuts (the sequester) set to hit this Friday, March 1. The headline figure actually reflects the sequester: defense bookings slumped to their lowest level in a decade, according to Bloomberg News.

USDJPY 1-minute Chart: February 27, 2013

USDJPY_Slides_as_January_Durable_Goods_Orders_Generally_Disappoint_body_Picture_1.png, Yen Surges After G7 Clarifies Earlier Statement; USD/JPY Tanks

Charts Created using Marketscope – Prepared by Christopher Vecchio

Following the release, the USDJPY fell from 91.64 to as low as 91.34, before settling at 91.42. Sideways price action was observed across the rest of the majors, with exception to the GBPUSD, which rallied approximately for +15-pips after the release.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

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

DISCLOSURES

News & Analysis at your fingertips.