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
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
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
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Breaking news

Pfizer cut 2020 vaccine rollout by a half to 50million

Real Time News
  • The bearish implications of a 'Death Cross' in my majors-based #USD index is finally seeing follow-through on the weekly setting following the drop under rising support from 2014. This has exposed lows from 2018. Learn more about moving averages here - https://www.dailyfx.com/education/technical-analysis-tools/moving-average.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/aO8IPBZPal
  • USD/CAD rates have just fallen to fresh yearly lows, and in the process may be setting up a test of a key longer-term Fibonacci retracement in the coming sessions. Get your $USDCAD market update from @CVecchioFX here:https://t.co/0HvhiclGM6 https://t.co/4UIV5j9ZFD
  • Moderna Study Shows Vaccine Has Potential For Durable Immunity - BBG
  • The Dow Jones capped off November with a strong finish and wades narrowly beneath all-time highs. Get your #equities market update from @PeterHanksFX here: https://t.co/FFwhDM3A8E https://t.co/7pgGhriMlh
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.64% 🇯🇵JPY: 0.55% 🇨🇭CHF: 0.43% 🇦🇺AUD: 0.35% 🇪🇺EUR: 0.27% 🇳🇿NZD: 0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/pfY41C6lft
  • #CrudeOil prices look poised to move higher as buyers begin to probe resistance at the 61.8% Fib extension (45.91) A daily close above $46 may signal the resumption of the uptrend extending from the November low and bring psychological resistance at $50 into focus #OOTT $CL https://t.co/S8CX5oSxs8
  • $USDCAD eyeing key support at the October 2018 low (1.2783) after collapsing through range support at 1.2930 - 1.2950 Further losses look in the offing as the RSI breaks its 6-month uptrend and gears up to register its first oversold readings since June $CAD #technicalanalysis https://t.co/XvsVB2pPbU
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Gold: 0.55% Oil - US Crude: 0.04% Silver: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/zwJRHqycl6
  • The #Euro breakout has already extended into initial resistance objectives and while the immediate rally may be vulnerable here near-term. Get your $EURUSD market update from @MBForex here:https://t.co/9uBqmz2607 https://t.co/Ant5iKaR9H
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 94.64%, while traders in EUR/JPY are at opposite extremes with 73.60%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/EqlAPiolTn
Yen Gains Continue After Trade Data Beat

Yen Gains Continue After Trade Data Beat

2017-01-12 02:02:00
David Cottle, Analyst
Share:

Talking Points

  • Japan scored a bigger-than-expected trade surplus in November
  • The overall Balance of Payments rose for a 29th straight month
  • USD/JPY was already slipping, these data won’t have helped.

The Yen continued to gain on Thursday after the release of supportive Japanese trade data, but the trend was already for USD/JPY weakness after US President-elect Donald Trump’s Wednesday press conference, and it is hard to gauge the data’s precise impact.

All we can say is that the numbers would probably have been Yen-supportive even without the focus on Washington.

November’s trade balance was revealed to have been in surplus to the tune of ¥ 313.4 billion ($2.72 billion) as imports fell much faster than exports, leaving the old question marks over the country’s internal demand very much in place.

That surplus was well above than the ¥250 billion expected but below the ¥587.6 billion scored in October. However, the broader current account was in the black for a 29th straight month, to the tune of¥1.415 trillion, up 28% on the year. Numbers released at the same time showed that bank lending rose by a punchy 2.6% in December.

USD/JPY had already trickled down from the 115.50 area as trade got under way in Tokyo, and it had got down as far as 114.96 in the wake of the data.

The overall foreign exchange market was already tending towards a little rethink of recent US Dollar strength after Mr. Trump failed to offer much in terms of concrete policy plans at his first substantive meeting with journalists in the US on Wednesday.

Heading lower anyway: USD/JPY

Yen Gains Continue After Trade Data Beat

Chart compiled using TradingView

Which currencies aren’t feeling the love out there? Take a look at the DailyFX sentiment page.

--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter:@DavidCottleFX

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

DISCLOSURES