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
Oil - US Crude
Mixed
Wall Street
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
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
  • 🇬🇧 Markit/CIPS Manufacturing PMI Final Actual: 40.7 Expected: 40.7 Previous: 32.6 https://www.dailyfx.com/economic-calendar#2020-06-01
  • Sharp risk-off reversal after #China is reported to halt some US agriculture imports amid #HongKong tensions & #TradeWar escalation. #AUD, #NZD and #SP500 futures down. #USD and #JPY up. https://t.co/2uwoEalx62
  • Heads Up:🇬🇧 Markit/CIPS Manufacturing PMI Final due at 08:30 GMT (15min) Expected: 40.7 Previous: 32.6 https://www.dailyfx.com/economic-calendar#2020-06-01
  • China is said to halt some US soy imports as tensions rise
  • U.S. Market Analyst at https://t.co/JsVsSlWDSh, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEt7a6 https://t.co/VVnzXqhl9r
  • 🇩🇪 Markit Manufacturing PMI Final Actual: 36.6 Expected: 36.8 Previous: 34.5 https://www.dailyfx.com/economic-calendar#2020-06-01
  • What's been driving #gold strength and #USD weakness since the middle of last week, a move that has seemingly ignored the back/forth on #USChina tensions? Here's a theory: domestic US unrest is fueling bets on more #Fed easing. https://t.co/UM8tftiSh6
  • 🇮🇹 Markit/ADACI Manufacturing PMI Actual: 45.4 Expected: 37.1 Previous: 31.1 https://www.dailyfx.com/economic-calendar#2020-06-01
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.58%, while traders in US 500 are at opposite extremes with 75.21%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/bTOdRb5PFb
  • Heads Up:💶 Markit Manufacturing PMI Final due at 08:00 GMT (15min) Expected: 39.5 Previous: 33.4 https://www.dailyfx.com/economic-calendar#2020-06-01
USD/JPY Steady After Reserves Data with All Eyes on US Election

USD/JPY Steady After Reserves Data with All Eyes on US Election

2016-11-08 01:37:00
David Cottle, Analyst
Share:

Talking Points

  • Japan’s official reserve asset total slipped back a little in October
  • Data didn’t manage to shift markets’focus away from US election
  • USD/JPY held up after the release, hovering near yesterday’s high

News that Japan’s official reserves slipped a little in October saw the Yen steady against the US Dollar on Tuesday with market focus clearly on the US presidential vote rather than the monthly economic data round.

The official reserve tally came in at $1242.8 billion, according to official figures. That’s down from $1260.1 billion in September.

Reserve assets are the currency, commodities or other financial capital held by monetary authorities. They're used to finance trade imbalances, mitigate the impact offoreign exchangemoves and address other issues under the purview of the central bank.

While essential reading for economists and other market watchers, these data were clearly eclipsed by the wait for the US to head out to the polls.

The US Dollar had risen sharply against the Yen and all other major rivals on Monday after the FBI decided that Democratic nominee Hilary Clinton wouldn’t face criminal charges relating to her use of a private email server.

This was seen as a boost to her chances of winning Tuesday’s vote. With Clinton generally viewed in the markets as much more of a known quantity in office than her rival Donald Trump, both the US Dollar and US stock markets posted gains.

With this theme still very much in play, USD/JPY traded at 104.599 after the Japanese numbers, up from 105.460 before.

USD/JPY steady, looking towards the US election outcome

USD/JPY Steady After Reserves Data with All Eyes on US Election

Chart created using TradingView

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

DISCLOSURES

News & Analysis at your fingertips.