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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Oil - US Crude
Wall Street
More View more
Real Time News
  • Lately, capital has been flowing out of #EmergingMarkets and #ASEAN economies, pushing the US Dollar higher against their respective currencies Will this trend continue this week? Check out my latest fundamental outlook here -
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here:
  • $AUDUSD price action strikingly similar to that seen in 2002 - Break above the 1997 downtrend ignited a 106% surge, eventually peaking in July 2008 (0.9850) - Consolidation above downtrend preceded upside push - Bullish RSI divergence appears to signal cyclical upturn
  • Heads Up:🇯🇵 Leading Economic Index Final (JUL) due at 05:00 GMT (15min) Expected: 86.9 Previous: 83.8
  • Heads Up:🇯🇵 Coincident Index Final (JUL) due at 05:00 GMT (15min) Expected: 76.2 Previous: 74.4
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.83%, while traders in EUR/GBP are at opposite extremes with 64.39%. See the summary chart below and full details and charts on DailyFX:
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.42% 🇬🇧GBP: 0.21% 🇯🇵JPY: 0.21% 🇨🇦CAD: 0.06% 🇪🇺EUR: 0.04% 🇨🇭CHF: 0.03% View the performance of all markets via
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.56% France 40: 1.56% FTSE 100: 1.23% Wall Street: 0.47% US 500: 0.39% View the performance of all markets via
  • #ASX200 struggling to break above key resistance at 6000 after Westpac retracted its calls for an #RBA rate cut in October RSI hints at fading bullish momentum which suggests that a push towards the monthly low is on the cards, if 200-MA resistance (6020) remains intact. $XJO
  • $AUDJPY poised to move higher after finding support at the 200-day moving average. $CADJPY eyeing a push back towards the yearly high $EURJPY perched atop key support after breaking below Rising Wedge support. Are further losses in the offing? $JPY
Japanese Yen Shrugs At Weaker Business Sentiment

Japanese Yen Shrugs At Weaker Business Sentiment

2017-03-10 01:29:00
David Cottle ,

Talking Points

  • Japanese businesses are less confident now than they were in the last quarter of 2016, a survey showed
  • Large manufactures are much gloomier
  • However, the Yen barely moved. Well, it is “payrolls Friday”

The Japanese Yen was steady on Friday despite news of some weakening in business confidence.

The Business Sentiment Index for all industries came in at 1.3 for this year’s first quarter, according to the Ministry of Finance. That was well below 3.0 level from the quarter before. The score for large manufacturers alone was 1.1, hugely below the 7.5 level chalked up in the last three months of 2016.

One bright spot was that both surveys remain in positive territory (that indicates that businesses see conditions improving, just not to the extent they did when last asked) Another is that service sector confidence appears to be holding up.

These numbers can provide a steer as to the official Tankan snapshot of major manufacturers, which usually comes about a week later. USD/JPY barely moved however, continuing to hover around the 115.50 area.

Perhaps we shouldn’t be surprised. Global markets are looking toward official US labor market statistics due later in the global session. A rise of 200,000 nonfarm jobs is expected for February. That or anything like it would probably set the seal on a March interest rate rise in market minds, as recent Federal Reserve commentary has pointed that way.

With those US data as the main event, Japanese business sentiment was only every going to be a warm up act, and so it proved.

Focused elsewhere: USD/JPY

Japanese Yen Shrugs At Weaker Business Sentiment

Chart Compiled Using TradingView

Would you like live coverage and analysis of major market-moving events, or just to know more about trading? In either case, the DailyFX webinars are for you.

--- 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.