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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
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
Bitcoin
Mixed
More View more
Real Time News
  • Join analyst @DavidJSong at 5:30 PM ET/10:30 PM GMT for your weekly update on key news trading events. Register here: https://t.co/gBlrRpCc55 https://t.co/1rVzPr6gx4
  • See the DailyFX Fundamental and Technical forecasts for the week ahead on the major currencies, indices and commodities here: https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2019/12/15/Dow-Pound-and-Aussie-Dollar-Test-Post-Trade-War-Election-Breakouts.html
  • The US-China agreement brings this scene from camp cinema history to mind: https://t.co/WsfoGMZbw1 via @GIPHY https://t.co/h045efj8Em
  • What is the ascending triangle and how can you trade it? Find out here: https://t.co/SyL29jQflv https://t.co/F8415DaNGE
  • The politics of the US and UK may be starkly divided but their grip on the vast, $6.6 trillion global foreign exchange trade seems as tight as ever. Get your market update from @DavidCottleFX here:https://t.co/xTKHOvrIqg https://t.co/z7ogzy00dy
  • What are the Market cycles? How are #currencies impacted in these cycles? How can these cycles impact #forextrading patterns? Find out here: https://t.co/ckr2fUOWqW https://t.co/g7iT8bpi7f
  • What are a few of the common trading mistakes made by traders? Find out from @WVenketas here: https://t.co/d3OFc4yGao #tradingstyle https://t.co/wQ1MAkOb0n
  • The UK population voted the Conservative government back in with a strong majority, giving PM Johnson the backing to push Brexit through. And Sterling (GBP) likes it. Get you $GBPUSD market update from @nickcawley1 here: https://t.co/tjCHWDxoWm https://t.co/Z7Vaadxy5r
  • #Gold prices may fall while the US Dollar gains even as economic policies championed by the Trump administration invite inflation. Get your $gld markets news from @IlyaSpivak here:https://t.co/4lHhHsby56 https://t.co/zF4EyLIRWM
  • Lessons from Bretton Woods are forgotten, the US-China #tradewar represents a true existential threat to the post-World War II international trade order, and in turn, the globalized economy that has grown out of the ashes of history. More from @CVecchioFX :https://t.co/paaBxX6Xt0 https://t.co/tcjkQnaBWl
USD/JPY Remains Under Pressure After US Trade Data

USD/JPY Remains Under Pressure After US Trade Data

2017-04-04 12:58:00
Oliver Morrison, Analyst
Share:

Talking Points:

- US trade deficit beats estimates and drops to $43.6 billion in February.

- US Dollar remains under pressure versus Yen; but holds strength vs the Euro.

See the DailyFX Economic Calendar and see what live coverage for key event risk impacting FX markets is scheduled for the week on the DailyFX Webinar Calendar.

The US international trade deficit dropped to $43.6 billion in February -- its lowest level since October -- beating estimates of a decline to $44.7 billion, according to data from the US Commerce Department. January’s trade deficit was also revised to $48.2 billion from $48.5 billion.

Despite the Dollar-positive print, the Greenback remains under pressure versus the Japanese Yen. USDJPY fell sharply yesterday to test yearly lows around the 110 level. Treasury yields dropped as disappointing US Auto Sales and Manufacturing data prints threw the so-called Trump Trade into doubt, and amid heightened political tensions ahead of the crucial meeting between Chinese President Xi Jinping and Donald Trump in Florida later this week. USDJPY remains at 110.41, a drop of 0.49 on the day.

USDJPY 15-Minute Chart (Intraday, April 4, 2017)

USD/JPY Remains Under Pressure After US Trade Data

Chart by IG

However, the Dollar has held its general strength against other currencies. US factory order data are released later today.

EURUSD 15-Minute Chart (Intraday, April 4, 2017)

USD/JPY Remains Under Pressure After US Trade Data

Chart by IG

--- Written by Oliver Morrison, Analyst

To contact Oliver, email him at oliver.morrison@ig.com

Don't trade FX but want to learn more? Read the DailyFX Trading Guides

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

DISCLOSURES

News & Analysis at your fingertips.