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
Bearish
Oil - US Crude
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
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
Bearish
GBP/USD
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
USD/JPY
Bearish
More View more
Real Time News
  • Crude oil prices are poised to continue their upward trajectory in 2021, but technical signals hint that a near-term pullback may precede the next major push higher. Get your market update from @FxWestwater here: https://t.co/ePFyh64cAG https://t.co/Btbz1n5Dfg
  • $USDMXN continues consolidation as bearish momentum eases and bias attempt to turn to the upside. Get your market update from @HathornSabin here: https://t.co/J9vJ76Lghq https://t.co/pJGnuuyJNQ
  • The US Dollar breaks out of the range bound price action from the first of January going into the inauguration of President-elect Joe Biden. Get your market update from @DavidJSong here: https://t.co/GVxAmCkhP5 https://t.co/OC6g9pGhGy
  • Sterling continues to nudge higher against most major currencies with traders placing their trust in the ongoing UK vaccination plan. Get your market update from @nickcawley1 here: https://t.co/OvFP8Zzz5b https://t.co/rwofebQHTq
  • $EURUSD has dropped sharply over the last few days and may well fall further. However, it is also possible that the bad news is now priced in to the exchange rate and that further weakness will be delayed. Get your market update from @MartinSEssex here: https://t.co/mDGlI1aS6o https://t.co/1xYg0muBJI
  • The Brexit timeline can be followed one event after another. Use this tool from DailyFX research to sharpen your knowledge on the Brexit timeline here: https://t.co/kFDzTWODDo https://t.co/TT1FwFK8cJ
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/Uz6LKXdR2k
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/fGi6YgqqQt
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/fdigOgkmio
  • A forex trader is strategic, disciplined and always switched on to the markets. Learn how to build an FX mindset here: https://t.co/tB3aAErd70 https://t.co/Ilqz8BWTk0
Japan's Perliminary 2Q GDP Figures Miss Expectations, USD/JPY Lower

Japan's Perliminary 2Q GDP Figures Miss Expectations, USD/JPY Lower

2013-08-12 00:30:00
Jimmy Yang,

THE TAKEAWAY:Japan second quarter GDP figures disappoint expectations > Investors likely expect the BoJ to hold current pace of stimulus amid slower growth, looking towards US data > USD/JPY Lower

The Japanese Yen strengthened against the US dollar as data showed Japan’s economy grew less than expected in the second quarter. The annualized quarter-over-quarter GDP growth came across at 2.6 percent on expectations for 3.6 percent. Consumer spending led the growth with a 0.8 percent year-over-year increase while business spending decreased 0.1 percent. This slowdown in growth may compel some investors to expect the Bank of Japan to do more to encourage economic growth. However, the lower USD/JPY after the release could indicate the market’s acceptance of the BoJ’s stance on monetary policy. The pair likely fell in a risk-averse move that saw captial move out equities and into the safe-haven currency.

Japans_2Q_GDP_Figures_Miss_Expectations_USDJPY_Lower_body_USDJPY_NKY.jpg, Japan's Perliminary 2Q GDP Figures Miss Expectations, USD/JPY Lower

On the fiscal side of Japan’s recovery efforts, the slower-than-expected growth could lead investors to expect a delayed sales tax increase. Japan’s Economy Minister Akira Amari, among other officials, has indicated the possibility of its introduction later this fall after a panel of experts review its effects. A tax increase could lead investors to expect the BoJ to also increase its efforts to offset a possible hamper on growth, moving the pair higher. Alternatively, a delay could allow traders to expect the current monetary policy to continue run its course. Investors will likely be monitoring upcoming Japanese data as well as the Bank of Japan’s July meeting minutes to weigh their expectations.

However, near-term price movement for the pair will likely come from expectations towards Federal Reserve policy. In addition to speeches from Fed officials, US data this week tied to retail sales, inflation, and consumer confidence will likely influence investor expectations on when the central bank will reduce its easing efforts.

USD/JPY (5-Minute Chart)

Japans_2Q_GDP_Figures_Miss_Expectations_USDJPY_Lower_body_Picture_1.png, Japan's Perliminary 2Q GDP Figures Miss Expectations, USD/JPY Lower

Source: FXCM Marketscope

New to Forex? Watch this video.

Jimmy Yang, DailyFX Research Team

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

DISCLOSURES