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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • Join @FxWestwater at 22:00 EST/2:00 GMT for a webinar on preparing to trade commodities markets in the week ahead. Register here:
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • RT @FxWestwater: $NZDUSD Struggles as RBNZ Hike Bets Dim. Australian Retail Sales, Chinese Data Near Link: https:/…
  • Heads Up:🇯🇵 BoJ Monetary Policy Meeting Minutes due at 23:50 GMT (15min)
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:
  • Senate GOP blocks bill combining debt ceiling with government funding - BBG
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here:
  • Japan says North Korea may have launched ballistic missile Kyodo via BBG
  • Senate GOP has votes to block debt limit, government funding bill - BBG
  • While Bitcoin is really buried into that support at the moment, Ethereum has been more range-bound of recent and as of this writing, price is not quite close to range support. Get your market update from @JStanleyFX here:
USD/JPY Catches ¥102 on Best US Retail Sales since September 2012

USD/JPY Catches ¥102 on Best US Retail Sales since September 2012

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- Consumption above expectations again, further evidence economy stronger than anticipated.

- Implies Q1 growth may still hold +2.0% after several months of disappointing data.

- USDJPY briefly trades back to ¥102.00.

The consumption figures in the March US Advance Retail Sales report beat estimates across the board, helping disperse fears of a more concerted slowdown in the world’s largest economy. In an encouraging development, the Retail Sales Control Group figure – which is used in computing the headline GDP figure – beat expectations as well, giving some hope to a modest Q1’14 growth figure near +2.0%.

The data today rounds out weeks of generally disappointing data out of the United States, with the March US Nonfarm Payrolls report disappointing expectations and the Federal Reserve taking on a more dovish tone in their latest meeting minutes. The Advance Retail Sales report showed the strongest consumption gains since September 2012.

Here’s the data that lifted the US Dollar this morning as US Treasury yields edged up slightly:

- Advance Retail Sales (MAR): +1.1% versus +0.9% expected, from 0.7% (revised higher from +0.3%) (m/m).

- Retail Sales ex Auto (MAR): +0.7% versus +0.5% expected, from +0.3% (m/m).

- Control Group (MAR): +0.8% versus +0.5% expected, from +0.4% (revised higher from +0.3%) (m/m).

USDJPY 1-minute Chart: April 14, 2014 Intraday

USDJPY-Catches-102-on-Best-US-Retail-Sales-since-September-2012_body_x0000_i1027.png, USD/JPY Catches ¥102 on Best US Retail Sales since September 2012

Charts Created using Marketscopeprepared by Christopher Vecchio

The USDJPY jumped to its daily high on the back of stronger yields around improved US consumption data, trading as high as ¥102.01 at the time this report was written. The pair had traded at 101.84 ahead of the data release, and was trading at 101.88 at the time of publication. US Dollar strength was noted elsewhere, with the EURUSD trading lower from $1.3827 to as low as 1.3809.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

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