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.

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
EUR/USD
Mixed
Oil - US Crude
Bearish
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
Mixed
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Ever wonder if there are other chart types that can be sued for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here: https://t.co/qV3c7a4YR3 https://t.co/G9bHFJ8xI5
  • Gold Forecast: Gold Volatility Surging as Real Yields Tumble -via @DailyFX Link to Full Analysis: https://www.dailyfx.com/forex/market_alert/2021/05/10/gold-forecast-gold-volatility-surging-as-real-yields-tumble.html $GLD $GVZ $XAUUSD $GC_F https://t.co/ts3S5EnGSy
  • 🇳🇿 Electronic Retail Card Spending YoY (APR) Actual: 108.7% Previous: 5.1% https://www.dailyfx.com/economic-calendar#2021-05-10
  • 🇳🇿 Electronic Retail Card Spending MoM (APR) Actual: 4% Previous: 0.8% https://www.dailyfx.com/economic-calendar#2021-05-10
  • RT @FxWestwater: $AUDUSD Eyes Chinese Inflation Amid Iron Ore Strength, US Dollar Fragility Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/05/10/AUDUSD-Eyes-Chinese-Inflation-Amid-Iron-Ore-Strength-US-Dollar-Fragility.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/Rg0…
  • Heads Up:🇯🇵 BoJ Summary of Opinions due at 23:50 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-10
  • 🇯🇵 Household Spending YoY (MAR) Actual: 6.2% Expected: 1.5% Previous: -6.6% https://www.dailyfx.com/economic-calendar#2021-05-10
  • Heads Up:🇳🇿 Electronic Retail Card Spending YoY (APR) due at 23:45 GMT (15min) Actual: 108.7% Previous: 5.1% https://www.dailyfx.com/economic-calendar#2021-05-10
  • Heads Up:🇳🇿 Electronic Retail Card Spending MoM (APR) due at 23:45 GMT (15min) Actual: 4% Previous: 0.8% https://www.dailyfx.com/economic-calendar#2021-05-10
  • Heads Up:🇯🇵 Household Spending YoY (MAR) due at 23:30 GMT (15min) Expected: 1.5% Previous: -6.6% https://www.dailyfx.com/economic-calendar#2021-05-10
Japan GDP Trumps Estimates, USD/JPY Targets 99.44 if Support Broken

Japan GDP Trumps Estimates, USD/JPY Targets 99.44 if Support Broken

David Maycotte,

Talking Points:

Japan’s economy reported a sharp rebound in growth in the first quarter as consumers reached into their wallets ahead of the sales tax increase on April 1st.

Japan GDP grew at a seasonally adjusted annual rate of 5.9 percent in the first quarter, trumping estimates calling for a print of 4.2 percent, and is a sharp rebound from 0.7 in the fourth quarter of 2013. The expansion on a quarterly basis also topped estimates at 1.5 percent versus 1.0 percent estimated. The expansion in the benchmark growth-rate was driven by consumer consumption.

On April 1st, Japan’s consumption tax was increased to 8 percent from 5 percent as an effort to improve the country’s fiscal position. The government has the option to raise taxes to 10 percent by 2015 if necessary.

The Japanese Yen Rose against the US Dollar following the data. USDJPY faces another test of support, with a break lower targeting 99.44, says DailyFX Strategist Jamie Saettele.

USD/JPY Daily chart From USD/JPY Gears for Another Test of Support Shelf

Japan GDP Trumps Estimates, USD/JPY Targets 99.44 if Support Broken

Chart Prepared by Jamie Saettele, CMT using FXCM Marketscope 2.0.

-- Written by David Maycotte, DailyFX Research Team. Questions, comments or concerns can be sent to instructor@dailyfx.com.

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

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

DISCLOSURES