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
Bullish
Oil - US Crude
Bearish
Wall Street
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Bitcoin has taken a backseat to other volatile risk assets today, with the cryptocurrency down less than half a percent $BTC $USD https://t.co/YzaX09fLAS
  • Who needs a 2 and 20 when you have Reddit?? #GameStop https://t.co/ELWWjYPg3D
  • The #Bitcoin bull has taken a back seat, at least for now, but speculative fervor continues to run high as witnessed by the saga taking place in the stock of Gamestop. Get your market update from @JStanleyFX here: https://t.co/0Q8PxyUIkc https://t.co/A2JHReRTcf
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.57% 🇬🇧GBP: 0.45% 🇦🇺AUD: 0.45% 🇨🇭CHF: 0.17% 🇪🇺EUR: 0.17% 🇯🇵JPY: 0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OyXArspzGL
  • USD/CAD continues to retreat, now trading below 1.27 $USD $CAD https://t.co/cgmNxBHsjo
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Silver: 0.44% Oil - US Crude: 0.27% Gold: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/38weW9olX9
  • Waiting for Kodak to claim it is the most shorted stock in the world. If blockchain and vaccine pivots don't work, maybe this will be the ticket.
  • US to order 100 million more doses of Pfizer and Moderna vaccines to fight supply shortages - BBG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Germany 30 are at opposite extremes with 70.32%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/F22xKzHTZh
  • Mircosoft Earnings 2Q Revenues: $43.08 B, EST. $40.20 B EPS: $2.03 act. vs $1.64 est. $MSFT 246.46 +7.19%
Yen Posts Brief Gains After Japan Sales Data Beats Expectations

Yen Posts Brief Gains After Japan Sales Data Beats Expectations

David Cottle, Analyst

Talking Points

  • The Yen caught a modest bid after some perky Japanese retail sales data
  • The numbers came in well ahead of economists’ gloomy estimates
  • But, this doesn’t look like a market that wants to be selling USD/JPY

The Japanese Yen rose a little against the US Dollar, but soon surrendered gains early in Tuesday’s Asian session after official Japanese retail sales figures handily topped market expectations.

Sales rose 2.5% month-on-month in October, much ahead of the 1.1% rise economists had been looking for. Receipts fell 0.1% year-on-year but that was much better than the expected 1.6% slide.

The data was not all good news however. The monthly retail sales surge may simply represent an ongoing bounce back from August’s nadir, which was blamed on poor weather. Household spending also fell by 0.4%, for an eighth straight month of falls. Much of Japan’s domestic economic policy is aimed at boosting consumption and through that, hopefully, stagnant prices, so any hints that that might be bearing fruit tends to support the Yen.

USD/JPY slipped to its Asia session low of 111.60 after the numbers. It had been 111.835 just before their release. However, the US Dollar soon regained its previous levels.

Overall, the perky US Dollar took a little breather early in Asia on Tuesday. However, it remains on track for its strongest overall two month gain since early last year. But the Dollar Index, which tracks the greenback’s progress against a basket of widely-traded peers, slipped back a little from near 14-year peaks.

The final piece of key data released in a busy morning for Japan was the unemployment rate. That stayed at 3% in October. This was as expected by the markets.

Down and back again - USD/JPY (1min chart)

Yen Posts Brief Gains After Japan Sales Data Beats Expectations

Chart compiled using TradingView

--- Written by David Cottle, DailyFX Research

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

DISCLOSURES