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
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
Oil - US Crude
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
Wall Street
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Dialing back, the low last month was created around a very, very long-term trend-line extending up since 1982. Get your #DAX market update from @PaulRobinsonFX here: https://t.co/Vaf1KXghqe https://t.co/TUwVPvuQkw
  • Trump: Can do phase 4 stimulus bill "later", sees understanding with Democrats on loan program funding. Calling on Congress to pass loan program funding this week -BBG
  • US President Donald Trump: Could reopen country in phases, may be ahead of schedule. Have to be on downside of slope to reopen the economy -BBG
  • USD/CAD Trading Forecast - via @DailyFX: Canadian Dollar Eyes Jobs Data, Oil & OPEC+ Link to Analysis: https://www.dailyfx.com/forex/technical/home/analysis/usd-cad/2020/04/08/usdcad-forecast-canadian-dollar-eyes-jobs-data-oil-opec.html $USDCAD $CL_F #WTI #OOTT #Forex #FX https://t.co/mSrFIcdSs9
  • Fed's Kaplan: -Sees US unemployment rate rising above 10% to 'mid teens' but fall between 7-8% by year end -US GDP may plunge 25-35% in 2Q, shrink 4-5% on balance this year
  • RT @LiveSquawk: Fed's Kaplan: US GDP May Shrink 25% To 35% In Second Quarter, Then Grow In Second Half - RTRS - Sees US GDP Shrinking 4% T…
  • For Thursday's trading session we have: the RBA Financial Stability Review; UK GDP; Canadian employment; US consumer confidence (UMich for April) and the OPEC+ meeting. High profile event risk overriding liquidity fade into Good Friday?
  • $EURUSD Daily Pivot Points: S3: 1.0647 S2: 1.0762 S1: 1.0827 R1: 1.0941 R2: 1.0991 R3: 1.1106 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • #Gold prices rallied by more than 7.7% from the April 1st low into yesterday’s. high. Get your $XAUUSD technical analysis from @JStanleyFX here: https://t.co/M9QeP4a5QH https://t.co/xc847ElRxe
  • RT @hmeisler: RUT green 3 straight. Hasn't gone 4 since early Feb.
USD/JPY Struggling Near 103 post Japan Industrial Production Data

USD/JPY Struggling Near 103 post Japan Industrial Production Data

2014-03-31 02:17:00
Benjamin Du,
Share:

Talking Points

  • Japanese manufacturing expanded output for thirteenth consecutive month, albeit at a slowing pace
  • Industrial Production dropped the most since June
  • Upcoming April sales tax hike may pressure consumer demand

The Japanese Yen remains within a range despite a set of weaker-than-anticipated PMI and Industrial Production figures. The Markit/JMMA Japan Manufacturing PMI came in at 53.9 in March down from 55.5 in February which leaves the index in expansionary territory for the thirteenth consecutive month. Heavy snow was cited as a reason for the slower expansion in output, while a rise in demand before the upcoming consumption tax hike may have had a positive effect. According to Amy Brown, an Economist at Markit, “Firms attributed this increase in output to last minute demand before the increase in the sales tax from 5% to 8%, which is due to be implemented in April this year.

Japanese Industrial Production also disappointed relative to expectations having declined by 2.3% in February over the previous month, marking the steepest drop in eight months. This unexpected decline adds to concerns that the Japanese economic recovery could be derailed as the sales tax hike is put in place in April. The last sales tax hike in 1997 dampened demand and contributed to a prolonged downturn. The Bank of Japan has hinted at its commitment to increase its monetary easing policies if needed; a response that looks increasingly likely with this recent economic data release, and if the tax hike hits consumption harder than expected. Read more about the potential implications of the VAT increase on the Yen and get the weekly outlook for the currency here.

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

USDJPY-Struggling-Near-103-post-Japanese-Industrial-Production-Data_body_Picture_1.png, USD/JPY Struggling Near 103 post Japan Industrial Production Data

USDJPY (5min Chart) – March 31, 2014 Created with FXCM Marketscope 2.0

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

DISCLOSURES

News & Analysis at your fingertips.