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
Bullish
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Japanese Prime Minister Suga says infection rates are still high following emergency declaration - BBG
  • 🇳🇱 Unemployment Rate (DEC) Actual: 3.9% Previous: 4% https://www.dailyfx.com/economic-calendar#2021-01-21
  • 🇳🇱 Consumer Confidence (JAN) Actual: -19 Previous: -20.0 https://www.dailyfx.com/economic-calendar#2021-01-21
  • 🇳🇱 Unemployment Rate (DEC) Actual: 3.9 Previous: 4% https://www.dailyfx.com/economic-calendar#2021-01-21
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 70.99%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/e6YUDJEZ1A
  • Germany's Covid death toll rises above 50,000 - BBG
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.49% 🇦🇺AUD: 0.33% 🇬🇧GBP: 0.21% 🇯🇵JPY: 0.13% 🇨🇦CAD: 0.13% 🇨🇭CHF: 0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/1UDJQe7C0f
  • Heads Up:🇳🇱 Consumer Confidence (JAN) due at 05:30 GMT (15min) Previous: -20.0 https://www.dailyfx.com/economic-calendar#2021-01-21
  • Heads Up:🇳🇱 Unemployment Rate (DEC) due at 05:30 GMT (15min) Previous: 4% https://www.dailyfx.com/economic-calendar#2021-01-21
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.59% France 40: 0.41% US 500: 0.39% Germany 30: 0.39% Wall Street: 0.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/AO1cjIg0PC
USD/JPY Sinks on US Election, Ignores Japan EcoWatchers Survey

USD/JPY Sinks on US Election, Ignores Japan EcoWatchers Survey

David Cottle, Analyst

Talking Points:

  • A closely watched Japanese sentiment survey ticked up in October
  • However the more upbeat mood past markets by
  • Trump’s electoral lead has seen insatiable Yen demand and a Nikkei collapse

The Yen continued to strengthen against the US Dollar on Wednesday, fixated on the US election and hardly pausing to notice that a key economic survey came in stronger.

The Economy Watchers survey index increased to 49.30 in October from 44.80 in September, the Cabinet Office reported.

The index measures the current mode of businesses that directly service consumers. Think taxi drivers, waiters and the like. The data are put together from a survey of about 2,000 such workers.

Still, a reading above 50 is needed to indicate overall optimism so, despite the monthly uptick, pessimism still dominates.

Then again, it usually does. The survey has averaged 44.54 between 2000 and 2016.

Japanese markets let the data pass them by, fixated on the US presidential election and Donald Trump’s growing lead over market-favorite Hilary Clinton.

Haven demand for the Yen saw the greenback down to 101.209, having peaked above 105 earlier in the session.

The Nikkei was down more than 1000 points.

USD/JPY: A falling knife

USD/JPY Sinks on US Election, Ignores Japan EcoWatchers Survey

Chart produced using Trading View

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

DISCLOSURES