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.

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
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Wall Street Futures Update: Dow Jones (+0.27%) S&P 500 (+0.18%) Nasdaq 100 (+0.06%) [delayed] -BBG
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/nD75SqMrxd
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.66%, while traders in France 40 are at opposite extremes with 79.92%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/0X721EyXki
  • Gold Prices at 3-Month High Amid USD Weakness after Big NFP Miss https://www.dailyfx.com/forex/market_alert/2021/05/10/Gold-Prices-at-3-Month-High-amid-USD-Weakness-after-Big-NFP-Miss.html https://t.co/ZlsBKlFOw6
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.23% 🇦🇺AUD: 0.02% 🇨🇦CAD: -0.02% 🇨🇭CHF: -0.08% 🇳🇿NZD: -0.09% 🇯🇵JPY: -0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/pzMXnTquKf
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: 0.36% FTSE 100: 0.33% Germany 30: 0.28% Wall Street: 0.27% US 500: 0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/d3nVIzPniI
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/ApsjkNfGMO
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.63% Silver: 0.61% Gold: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/nO754swCBo
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.30% 🇦🇺AUD: 0.07% 🇨🇦CAD: 0.00% 🇪🇺EUR: -0.05% 🇨🇭CHF: -0.09% 🇯🇵JPY: -0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rdSUCcdssH
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.56%, while traders in France 40 are at opposite extremes with 80.47%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/85hvnrXx2Y
Japanese Yen Slips Further On Nasty Earnings Miss

Japanese Yen Slips Further On Nasty Earnings Miss

David Cottle, Analyst

Talking Points:

  • Japanese cash earnings failed to match even meager expectations
  • They fell in March, by the most since mid-2015
  • The Yen was already down against the US Dollar, and duly slipped further

Would you like to know more about trading the Japanese Yen? DailyFX’s trading guide should be your first stop.

The Japanese Yen weakened a little further against an already stronger US Dollar Tuesday following news of further earnings weakness in Japan.

Labor cash earnings for March fell by 0.4% on the year, according to official data. That was well below both the expected 0.5% gain and February’s 0.4% rise. It was also the lowest point since June 2015. Total real cash earnings were miserable too. They fell by 0.8%, from a flat reading in February.

These numbers make any hopes which the Bank of Japan might have had for an upward boost to local inflation from wages seem very forlorn. The BoJ has urged businesses to pay more where they can, hoping to fuel consumer spending and moribund prices. But, as inflation expectations remain low, there is little incentive for firms to do so.

Headed Up: USD/JPY

Japanese Yen Slips Further On Nasty Earnings Miss

The numbers were released as BoJ Governor Haruhiko Kuroda told the Japanese Parliament that aggressive monetary easing was still necessary if the inflation target of 2% is to be hit. He proclaimed himself confident that it will be. The markets will take some convincing though. The last consumer price release showed a meager 0.2% annualized gain.

The Japanese Yen was already looking pretty defensive against the US Dollar, but it slipped a little further after the data and Mr. Kuroda. USD/JPY rose to 113.60, from 113.12 just before the figures. Wage and inflation weakness in Japan is now a rather ancient story.

--- 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