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. See our updated Privacy Policy here.

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
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
More View more
Real Time News
  • RT @C_Barraud: 🇺🇸 Americans Haven’t Been This Down on #Housing Market Since 1982 - Bloomberg *Link: https://t.co/wWFnbAwIDO https://t.co/6G…
  • US Dollar Price Action Setups Pre-FOMC: EUR/USD, GBP/USD, USD/CAD https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/09/17/US-Dollar-Price-Action-Setups-pre-FOMC-EURUSD-EUR-USD-GBP-USD-GBPUSD-USD-CAD-USDCAD.html https://t.co/J25MYsXCa9
  • The US Dollar is pushing up to a fresh September high after the release of University of Michigan Consumer Sentiment data. Get your $USD market update from @JStanleyFX here:https://t.co/2CDNZh2a89 https://t.co/bULXuCaHKk
  • I have this $SPX chart taking over one of my whole screens, and I just keep staring at that 50-day moving average... https://t.co/R9LQAuL2DL
  • RT @TheStalwart: Nice chart, which shows why countries in green on the perimeter, like Iran, Peru, and Turkey are known for their stability…
  • Selling pressure strengthening in Wall Street two hours before the close. S&P 500 down roughly 1% intraday, the largest decline since August 18th #trading $SPX $SPY
  • One of the strongest correlation with Bitcoin at the moment is the US 10-Year Treasury yield https://t.co/uZBzJ7yiXf
  • Aside from the rising uncertainty in China over Evergrande default risks, two central bank decisions will dominate the market theme next week. Get your market update from @JMcQueenFX here:https://t.co/5xXv7IDLxE https://t.co/gHCO4B7Cql
  • RT @BrendanFaganFx: 79 counterparties take $1.218 trillion at Fed's fixed-rate reverse repo $USD $DXY https://t.co/VaQdVJrXCz
  • While the #AUDUSD downtrend seems to have tentatively resumed already, the reasons for it to continue that are described here still look valid https://t.co/4i8LAW2ISz
Japanese Yen Whipsaws on Mixed Industrial, Retail Numbers

Japanese Yen Whipsaws on Mixed Industrial, Retail Numbers

David Cottle, Analyst

Talking Points

  • The Japanese Yen had to contend with a mixed data picture on Tuesday
  • Japan’s industrial production fell short in January, but retail sales did better
  • USD/JPY action was muted as markets waited for a Donald Trump speech

The Japanese Yen fell then rose again against the US Dollar on Tuesday after a mixed set of key economic data.

Japan’s preliminary official industrial production was down 0.8% in January from February. That’s the sharpest decline since May 2016. To make matters worse the markets had expected a 0.4% rise to follow December’s 0.7% gain. On year production rose 3.2%, but that was also a miss. Investors had hoped for a 4.3% rise.

However, Japanese retail sales data were released at the same time and they were rather better than expected. Sales rose 0.5% on the month, above the 0.3% rise markets had been looking for. For the year they were up 4%, much better than the 1% gain forecast.

USD/JPY rose to 112.819 in the wake of the figures, from 112.777 just before it. However, it very quickly slipped back again to trade more or less where it had been. This currency pair like most others appears to be in something of a holding pattern pending US President Donald Trump’s policy speech to Congress on Tuesday.

Mixed data, mixed response: USD/JPY

Japanese Yen Whipsaws on Mixed Industrial, Retail Numbers

Had this potentially seismic event not been imminent, it’s possible that the markets would have taken a more positive view of the numbers. The retail sales vigor suggests that domestic demand is in better shape and, while the production figures were gloomy, manufacturers seemed fairly optimistic about the future.

The year’s first quarter is getting old. How are the Daily FX analysts’ forecasts bearing up?

--- 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