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
Bearish
Wall Street
Mixed
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
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • China's #Yuan falls 0.28% to 7.1560/USD which is the weakest since September 2019 -BBG
  • Silver has been beaten handily by gold in the rush to haven assets inspired by the contagion. However, the gold/silver ratio was rising steadily before this crisis and will probably continue to do so. Get your #silver market update from @DavidCottleFX here:https://t.co/00DiZn6XZS https://t.co/Ep6p4HgiAU
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.01% Silver: -0.28% Oil - US Crude: -1.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/uGnOx2D3QE
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.05% 🇨🇭CHF: -0.08% 🇨🇦CAD: -0.10% 🇪🇺EUR: -0.16% 🇳🇿NZD: -0.17% 🇦🇺AUD: -0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/1fVY4dfYMN
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.52%, while traders in US 500 are at opposite extremes with 76.00%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HZ4bR3qFl2
  • Hey there traders, if you missed this week's session on IGCS where I discussed the #SP500, #FTSE100 and #CAC40, check out the recording on YouTube here - https://t.co/CJhhtY5WDJ
  • RBNZ Governor Orr: Is 'early days' for business lending schemes, expects schemes to be used more in coming months. Some payments from schemes put into bank deposits -BBG
  • Heads Up:🇨🇳 Industrial Profits (YTD) YoY due at 01:30 GMT (15min) Previous: -36.7% https://www.dailyfx.com/economic-calendar#2020-05-27
  • The US Dollar seems to have technical setups versus #ASEAN currencies such as the Singapore Dollar, Malaysian Ringgit, Indonesian Rupiah, and Philippine Peso that could go either way. Get your ASEAN currencies market update from @ddubrovskyFX here: https://t.co/qOofxVUI8t https://t.co/F6p8jediYz
  • 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 market update from @ddubrovskyFX here:https://t.co/LkEFJViPWY https://t.co/fc07BMitLx
USD/JPY Sets a New 5-Month High on Improved Confidence and Leading Index

USD/JPY Sets a New 5-Month High on Improved Confidence and Leading Index

2013-11-27 16:13:00
Benjamin Spier, Technical Strategist
Share:

Talking Points:

  • Chicago Purchasing Manager beats expectations at 63.0
  • U. of Michigan Confidence reported at 75.2 in final estimate
  • USD/JPY rises to a 5-month high

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

The US Dollar rose to new 5-month high against the Yen on a combination of 3 consecutive better than expected data releases.

The Chicago Purchasing Manager barometer was reported at 63.0 for November, the second-highest reading in two-years, only second to the 65.9 Chicago Purchasing Manager result reported in October. The release also significantly beat expectations for 60.0.

The University of Michigan Confidence index was reported at 75.1 for November, higher than expectations for 73.1 and better than the previous November estimate at 72.0. Also, the US Leading Index was reported 0.2% higher in October, beating expectations for an unchanged leading economic indicator, but lower than the revised 0.9% higher index reported for September.

All three releases are medium-impact and designed to give us a reading of the current or future US economic performance. US Dollar traders remain focused on speculation of when the Fed will begin its taper of monthly asset purchases. The FOMC said in its minutes from October that the Fed is likely to taper in the coming months; therefore better than expected economic data supports arguments for a December taper.

That is why the US Dollar jumped higher on better than expected data and rose above 102.00 against the Japanese Yen. USD/JPY may next find resistance by the late-May high at 102.50.

New to Forex? Watch this video

USD/JPY 1-Minute: November 27, 2013

USDJPY_Sets_a_New_5-Month_High_on_Improved_Confidence_and_Leading_Index_body_Picture_1.png, USD/JPY Sets a New 5-Month High on Improved Confidence and Leading Index

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.