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
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
Oil - US Crude
More View more
Breaking news

British Pound surges after UK exit poll shows Conservatives expected to win 368 seats out of 650

Japanese Yen Unfazed by Eight Month of Manufacturing Expansion

Japanese Yen Unfazed by Eight Month of Manufacturing Expansion

2017-04-21 03:23:00
Varun Jaitly,

Talking Points:

  • USD/JPY little changed as Nikkei Manufacturing PMI index shows sector expanded for its 8th month
  • New orders grew at a weaker pace than the month prior, but new export orders rose at a faster rate
  • Output from manufacturing rose for its 9th straight month, showing a marked increase in production

Want to see what trader positioning is saying about future Japanese Yen price action? Find out here!

The Yen largely overlooked the release of Japanese manufacturing PMI data showing the sector expanded for its eighth consecutive month, and at a faster pace. The headline index rose to 52.8 in April from 52.4 in March.

The Manufacturing Output index rose to 53.6 in April from 53 in March, which was cited as a “marked increase in production”. Total new orders increased but at a slower pace than the month prior. New export order growth accelerated however.

The currency was on the way higher against the US Dollar ahead of the release and continued along that path thereafter. USD/JPY fell alongside Nikkei 225 futures, hinting that risk aversion may have driven the move.

The on-coming French presidential election may have unsettled investors. First-round voting is due to take place this weekend. As for the data, it may have been ignored because of its limited impact on BOJ policy bets. Indeed, Governor Kuroda stressed the need to continue powerful easing just yesterday.

USD/JPY vs. Nikkei 225 Futures (5min chart)

Japanese Yen Unfazed by Eight Month of Manufacturing Expansion

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


News & Analysis at your fingertips.