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
Mixed
Wall Street
Mixed
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
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • US Treasury Auctions this week: $58b 3-years today $41b 10-years tomorrow $27b 30-years Thursday #usbonds #usdollar #yields @DailyFX
  • 🇷🇺 Foreign Exchange Reserves (APR) Actual: $590B Previous: $573.3B https://www.dailyfx.com/economic-calendar#2021-05-11
  • Heads Up:🇷🇺 Foreign Exchange Reserves (APR) due at 13:00 GMT (15min) Previous: $573.3B https://www.dailyfx.com/economic-calendar#2021-05-11
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.28%, while traders in Wall Street are at opposite extremes with 75.02%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/YO47H5OaNs
  • Equity markets looking increasingly ugly as the US enters the fray. #equities #usinflation @DailyFX Prices via @IGcom https://t.co/7AOMj429qK
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.34% 🇯🇵JPY: 0.23% 🇬🇧GBP: 0.21% 🇳🇿NZD: 0.17% 🇨🇦CAD: 0.02% 🇨🇭CHF: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/eDID349XPe
  • 🇧🇷 Inflation Rate YoY (APR) Actual: 6.76% Expected: 6.76% Previous: 6.1% https://www.dailyfx.com/economic-calendar#2021-05-11
  • Tesla - hammered post-Saturday Night Live #tesla #tsla @DailyFX https://t.co/eC36QdCguH
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/qMBxzMWy3t
  • Heads Up:🇧🇷 Inflation Rate YoY (APR) due at 12:00 GMT (15min) Expected: 6.76% Previous: 6.1% https://www.dailyfx.com/economic-calendar#2021-05-11
Japanese Yen Unimpressed Despite Better-Than-Expected GDP

Japanese Yen Unimpressed Despite Better-Than-Expected GDP

Daniel Dubrovsky, Strategist

Talking Points:

  • The Japanese Yen was unimpressed by better-than-expected GDP results
  • Japan’s economy grew 2.2 percent annualized versus 1.7% percent expected
  • The timid reaction was likely due to the data’s implication for BoJ policy bets

What do retail traders’ buy/sell decisions hint about the Japanese Yen trend?Find out here.

The Japanese Yen showed a lackluster response against its major counterparts after preliminary first quarter GDP figures crossed the wires. Japan’s economy grew 2.2 percent compared to the same period the year before versus 1.7 percent expected. Relative to the prior quarter, the nation’s output gained 0.5% as expected. The nominal reading fell short of estimates coming in at 0.0% q/q against 0.1% forecasted.

Private consumption increased 0.4%, slower than the 0.5% growth expected. Business spending was up 0.2% on the quarter, better than the 0.4% contraction estimated.

Net exports, which is the difference between a country’s exports and imports, added 0.1 percentage points to q/q GDP. However, the details of the report revealed that export growth slowed down falling to +8.9% from +14.1% in the fourth quarter. Private inventory also added 0.1 percentage points to q/q GDP.

The market’s muted response to the data, even though it was higher than the Bank of Japan’s 2017-18 growth projections, is a telling sign of its relevance. This is likely because of its minimal impact for BoJ monetary policy expectations. The central bank is focused on bolstering inflation. The next CPI report will be released next week.

Japanese Yen Unimpressed Despite Better-Than-Expected GDP

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

DISCLOSURES