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. See our updated Privacy Policy here.

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
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
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Mixed
GBP/USD
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
USD/JPY
Bullish
More View more
Real Time News
  • Seasonality, May has been one of the worst, if not the worst, months of the year for gold prices, which may prove to be a headwind in an environment that has proved bullish otherwise.Get your $XAUUSD market update from @CVecchioFX here: https://t.co/xXnc1XUECX https://t.co/hxXNT0BCYU
  • U.S. Dollar index slightly higher on the day despite choppy price action $USD $DXY https://t.co/AbIGPs20CA
  • The Australian Dollar has once again responded to weekly technical resistance and leaves the bulls vulnerable while below 7866. Get your $AUD market update from @MBForex here:https://t.co/72ORZ3wZwx https://t.co/ktLFGNPZd0
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.50% Silver: 0.10% Oil - US Crude: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/6m6mlA9J0I
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.05%, while traders in GBP/JPY are at opposite extremes with 69.35%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/0md6tHfJ37
  • Banxico: - Inflation shows require orderly adjustment in prices - Mid-Long term CPI expectations above 3% - Expects CPI to converge to target in 2Q 2022
  • Banxico: - Rate decision was unanimous - There are major challenges for monetary policy, citing highly uncertain economic environment - Future decisions depend on factors affecting CPI - Inflation has risen more than expected - Inflation risk tilted to the upside $MXN
  • Mexican #Peso maintaining intraday gains following #Banxico rate decision with $USDMXN hanging at session lows https://t.co/aMd2HlpHwt
  • 🇲🇽 Interest Rate Decision Actual: 4% Expected: 4% Previous: 4% https://www.dailyfx.com/economic-calendar#2021-05-13
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.98% US 500: 0.81% Germany 30: 0.02% France 40: -0.01% FTSE 100: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/THzITT5Kgr
'Haven' Japanese Yen Gains Halted By Solid Service PMI

'Haven' Japanese Yen Gains Halted By Solid Service PMI

David Cottle, Analyst

Talking Points

  • Japan’s service sector stormed ahead in June, with its best showing for 22 months
  • The data arrived amid weakened risk appetite as tensions over North Korea rose
  • However the numbers saw the Yen’s strong haven bid weaken a little.

Keep your JapaneseYen strategy fresh with the Daily FX Trading Guide

The Japanese Yen lost a little of the ground it had made on the US Dollar Wednesday following the release of more solid data out of the world’s third-largest economy.

Japan’s service sector Purchasing Managers Index came in at 53.3, above its previous 53.0. The “Composite” PMI, which aggregates both the service release and the manufacturing number already in the market, came in at 52.0. This was well below the previous 53.4 but still nicely within the expansion territory which, for PMI surveys everywhere, comes in at 50.

PMI compiler Markit said that job creation in Japan’s service sector was at a four-year high, with output growth overall at a 22-month peak

USD/JPY ticked back above the 113.00 line after the data, in keeping with the thesis that solid Japanese data speaks to more solid global growth, rather than just being a “Japan-only” story. The Yen had been receiving plentiful haven bids through the Asian morning as tensions over North Korea ratcheted up. The US reportedly said it would conduct precision firing drills with its South Korean allies in response to the latest North Korean missile test, which the United Nations Security Council will meet later to discuss.

Asian trade is likely thin thanks to the lack of US leads given the July 4 holiday.

'Haven' Japanese Yen Gains Halted By Solid Service PMI

--- 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