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
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here:
  • 🇳🇱 Consumer Confidence (SEP) Actual: -28.0 Previous: -29
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.44%, while traders in EUR/JPY are at opposite extremes with 63.92%. 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: 🇳🇿NZD: 0.13% 🇯🇵JPY: 0.13% 🇬🇧GBP: 0.04% 🇨🇭CHF: 0.01% 🇪🇺EUR: -0.02% 🇦🇺AUD: -0.02% View the performance of all markets via
  • Heads Up:🇳🇱 Consumer Confidence (SEP) due at 04:30 GMT (15min) Previous: -29
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: 0.93% Germany 30: 0.92% FTSE 100: 0.64% US 500: 0.04% Wall Street: 0.01% View the performance of all markets via
  • #Gold and #Silver are at risk of extending their slide from monthly highs as the lack of additional fiscal stimulus and rising geopolitical tensions underpin #USD $GC $SI $SLV $GLD
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here:
  • We start this week off with a threatening drop in risk assets. For the S&P 500, that would be an charged H&S breakdown. Is this the systemic shift that will transition to unquenchable momentum? I discuss that in today's video:
  • Heads Up:🇹🇭 Balance of Trade (AUG) due at 03:30 GMT (15min) Previous: $3.34B
Japanese Yen Ignores Modest Service, Composite PMI Gains

Japanese Yen Ignores Modest Service, Composite PMI Gains

2017-04-05 01:13:00
David Cottle, Analyst

Talking Points:

  • The Japanese service sector forged ahead in March
  • That made for modest gains in the Composite Purchasing Managers index despite a weaker manufacturing print
  • The Japanese Yen took very little notice

The Japanese Yen was steady against the US Dollar Wednesday after the release of an encouraging Japanese economic snapshot.

The March Nikkei Purchasing Managers Index (PMI) for the service sector rose to 52.9, up from February’s 51.3. That put the composite PMI at 52.9, a more modest rise from the prior month’s 52.2 level, but quite impressive for all that. The composite comprises both service and manufacturing sector indexes. And we already knew that the manufacturing index was at a three-month low in March.

Originating in the US, PMI indexes are released in most countries and are held by investors to be among the more timely snapshots of economic health. Any reading above 50 signifies expansion for the sector in question, with a sub-50 print meaning activity shrank.

The data gel with the prevalent Japanese economic backdrop of moderate recovery, fueled largely by offshore demand, and still-weak inflation at home. As such they rather passed the foreign exchange markets by. USD/JPY was stuck around the 110.83 level before and after the data, having clawed back a bit of the ground it lost in the previous Asian session.

What data? USD/JPY

Japanese Yen Ignores Modest Service, Composite PMI Gains

Market focus is increasingly on Thursday’s meeting between US President Donald Trump and his Chinese counterpart Xi Jinping. Mr. Trump has had harsh words for countries which run persistent trade surpluses with the US and, although China is the “main offender” here, Japan comes in an admittedly distant second.

Investors are accordingly keen to see whether the White House is prepared to bite on this issue, after a good deal of barking.

Would you like live commentary on market moving events, or just to know more about financial market trading? 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.