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. See our updated Privacy Policy here.

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
GBP/USD
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
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.36%, while traders in Wall Street are at opposite extremes with 72.78%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/IbMbabi8NR
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.41% Silver: 0.22% Gold: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/wSkvWlJyM4
  • Gold has been stuck in a holding pattern for the last few days with recent risk-off/risk-on events prompting very little reaction in the precious metal. Get your $XAUUSD market update from @nickcawley1 here:https://t.co/KXzqjx8mU0 https://t.co/hQCwubIV5g
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: France 40: 0.77% US 500: 0.16% FTSE 100: 0.14% Germany 30: 0.11% Wall Street: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/u03rrXpglC
  • It's FOMC day! Measures of vol have been creeping up the past 48-hours - what does this mean for $DXY, $EURUSD, Gold? We're talking all this and more for the Mid-Week Market Update, starting now: https://www.dailyfx.com/webinars/140187219
  • Bitcoin (BTC/USD) baulks at initial resistance at $41.3k - mkt looks overbought. Second time lucky? #bitcoin #btc @DailyFXTeam https://t.co/KxFqY8gBig
  • 🇨🇦 Core Inflation Rate YoY (JUN) Actual: 2.7% Previous: 2.8% https://www.dailyfx.com/economic-calendar#2021-07-28
  • 🇺🇸 Goods Trade Balance Adv (JUN) Actual: $-91.21B Previous: $-88.16B https://www.dailyfx.com/economic-calendar#2021-07-28
  • 🇨🇦 Inflation Rate MoM (JUN) Actual: 0.3% Expected: 0.4% Previous: 0.5% https://www.dailyfx.com/economic-calendar#2021-07-28
  • 🇨🇦 Inflation Rate YoY (JUN) Actual: 3.1% Expected: 3.2% Previous: 3.6% https://www.dailyfx.com/economic-calendar#2021-07-28
Yen Ignores Weak Machine Tool Orders Data, Tracks Nikkei 225

Yen Ignores Weak Machine Tool Orders Data, Tracks Nikkei 225

Cecilia Sanchez Corona,

Talking Points:

  • Japan’s Machine Tool Orders declined 6.3 percent year-on-year
  • Japanese Yen disregarded the outcome, followed Nikkei 225
  • USD/JPY testing first resistance level of 97.23

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

Japan’s Machine Tool Orders – a leading indicator of capital spending trends – declined 6.3 percent year-on-year in September. While the outcome marked a larger drawdown than the -1.7 percent drop seen in August, the broadly improving trend traced out since December remains in place.

The Japanese Yen broadly disregarded the outcome considering its limited implications for Bank of Japan monetary policy. Instead, the currency once again took its cues from Japanese stock performance. The benchmark Nikkei 225 stock index rose over 1 percent amid a broad-based recovery in risk appetite in Asian trade, pushing the safe-haven Yen downward. The correlation between the USDJPY and the Nikkei is now 0.54 (on 20-day percent change studies)

USDJPY is now testing below the first layer of daily pivot point resistance at 97.23, with prices eyeing subsequent levels at 97.58 and 98.26. On the downside, the first pivot support level is seen at 96.55, followed by 96.22 and 95.54.

New to Forex? Watch this video

USDJPY 5 Min: Oct 9, 2013

Yen_Ignores_Weak_Machine_Tool_Orders_Tracks_Nikkei_225_body_Picture_1.png, Yen Ignores Weak Machine Tool Orders Data, Tracks Nikkei 225

Chart created byCecilia Sanchez Corona using Marketscope 2.0

-- Written by Cecilia Sanchez Corona, 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