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
Mixed
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
Mixed
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
  • $EURUSD chart positioning hints the Euro may be running out of steam following a spirited recovery but sentiment studies continue to argue for the upside.Get your EUR/USD market update from @IlyaSpivak here:https://t.co/zp2oz1G2QZ https://t.co/YsxURDW4aT
  • Frankly, I'm surprised the 'equity market related economic uncertainty index' the Fed measures isn't higher. Apologies for using the Wilshire 5000. They don't have significant SPX or Dow historical https://t.co/CioVpmmdv9
  • Market snapshot: #NZD up over 0.5% vs G10 FX heading into Asia's Tuesday trading session [delayed].
  • 🇳🇿 NZD Building Permits (MoM) (FEB), Actual: 4.7% Expected: N/A Previous: -2.0% https://www.dailyfx.com/economic-calendar#2020-03-30
  • Heads Up:🇳🇿 NZD Building Permits (MoM) (FEB) due at 21:45 GMT (15min), Actual: N/A Expected: N/A Previous: -2.0% https://www.dailyfx.com/economic-calendar#2020-03-30
  • USTR Lighthizer says G20 should stay focused on pandemic, not try to use it to push other agendas in trade or elsewhere #Tradewar
  • In a positive development, the S&P 500 did not hit limit down after this week’s open for US equity futures. Get your #S&P500 technical analysis from @JStanleyFX here: https://t.co/7LDq88mYPE https://t.co/O6njknUzvV
  • Just launched - a major face lift to the @DailyFX education section 👇 https://t.co/i0PDKbWip3
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.25% 🇯🇵JPY: 0.14% 🇬🇧GBP: -0.26% 🇨🇭CHF: -0.70% 🇪🇺EUR: -0.81% 🇨🇦CAD: -1.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/TTILCrZCAZ
  • President Trump announces White House news conference at 5:00 PM Eastern
Dollar Down as U. of Michigan Confidence Sets a 5 Month Low

Dollar Down as U. of Michigan Confidence Sets a 5 Month Low

2013-09-13 14:39:00
Benjamin Spier, Technical Strategist
Share:
  • U of Michigan confidence index reaches a 5-month low
  • US Dollar traders look to next week’s Fed meeting
  • USD/JPY declines following index disappointment

Want to trade with proprietary strategies developed by FXCM? Find out how here.

A sharp decline in the University of Michigan Confidence Index sent the US Dollar 30 pips lower against the Japanese Yen. The consumer sentiment index set a 5 month low at 76.8 in September, lower than an expected 82.0 index result and down from 82.1 in August.

US data over the past few weeks has shown mixed results. The NFP changes expanded by 169 thousand in August, slightly disappointing expectations, and labor participation was reported at a 35 year low in August. However, the ISM manufacturing climbed to a two year high, while the ISM for services declined to a two year low. Market anticipation is building for next week’s Fed meeting, where majority of Bloomberg surveyed economists are expecting a taper of quantitative easing.

The US Dollar is trading around 99.30 against the Yen in Forex markets at the time of this writing. Support may be provided around 98.56, by the 38.2% retracement of the decline from the pair’s all time high to its all time low. Support for USD/JPY may be seen by the key 100.00 level.

New to Forex? Watch this video

USDJPY Daily: September 13, 2013

Dollar_Down_as_U._of_Michigan_Confidence_Sets_a_5_Month_Low_body_usdjpy.png, Dollar Down as U. of Michigan Confidence Sets a 5 Month Low

Chart created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

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

DISCLOSURES

News & Analysis at your fingertips.