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
EUR/USD
Mixed
Oil - US Crude
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
Wall Street
Bearish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.22% Oil - US Crude: -0.12% Gold: -0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/7UGWflcF7Y
  • - #NZDCHF outlook bearish as the pair struggles to surmount key resistance range - #NZDCAD trading at 13-month highs, but are technical cues hinting at a pullback? - #AUDNZD is again retreating from five-year resistance – how much will it decline? https://www.dailyfx.com/forex/market_alert/2020/07/08/New-Zealand-Dollar-Analysis-NZDCHF-NZDCAD-AUDNZD.html
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.08% 🇪🇺EUR: 0.00% 🇨🇦CAD: 0.00% 🇨🇭CHF: -0.04% 🇦🇺AUD: -0.10% 🇯🇵JPY: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/lTYr3UzRhP
  • RT @DanielGMoss: A ‘second wave’ of #COVID19 cases threatens to hamper #Australia's tentative recovery Uncertainty around the future of fi…
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.26%, while traders in NZD/USD are at opposite extremes with 72.66%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ksJ0N2pq6W
  • A macro forex trading guide exploring how to trade the Euro vs the Swedish Krona and Norwegian Krone through the prism of the Core-Perimeter model. Get your market update from @ZabelinDimitri here:https://t.co/n6zwlZJmGO https://t.co/F8sLZvRG1q
  • If you missed today's session on IG Client Sentiment where I discussed the outlook for the #DowJones, $AUDUSD and $USDCAD while discussing fundamentals and technicals, check out the recording below and stay tuned for a full report! - https://t.co/2wVxhtItzX
  • Wall Street Futures Update: Dow Jones (+0.213%) S&P 500 (+0.175%) Nasdaq Composite (+0.242%) [delayed] -BBG
  • RT @margaretyjy: Watch my Bloomberg TV interview at 9:00AM Singapore time. Coming in soon! https://t.co/Z6u6offept
  • The Core-Perimeter trading model helps traders understand interactions between global economies, helping to trade the assets embedded in these relationships. Get your market update from @ZabelinDimitri here:https://t.co/dKRAo00lfA https://t.co/jw5uvZBvRx
Yen More Focused on Developing Risk Trends Than In-Line Jobs Data

Yen More Focused on Developing Risk Trends Than In-Line Jobs Data

2017-08-29 01:11:00
Daniel Dubrovsky, Analyst
Share:

Talking Points:

  • Japan’s jobless rate and job-to-applicant ratio crossed the wires in-line with expectations
  • JPY hardly took notice as the markets seemed fixated on news after North Korean actions
  • The anti-risk currency may be vulnerable to reactions from the white house as it was before

Just started trading USD/JPY? See our beginner guides to help build your strategy!

The Japanese Yen did not show much of a reaction to an in-line jobs report while the markets seemed to be fixated on the aftermath of a missile test from North Korea. Japan’s jobless rate maintained at 2.8 percent in July as expected. In addition, the job-to-applicant ratio increased to 1.52 as predicted while the labor force participation rate sunk back to 60.8% from 61.0%.

Even with a low unemployment rate, the Bank of Japan is unlikely to change the current monetary policy setting anytime soon. Speaking at the Fed’s annual policy symposium in Jackson Hole, BoJ Governor Haruhiko Kuroda said Japan is still far from the 2 percent inflation target and central bank needs to continue with a very accommodative stance.

Earlier today, the anti-risk Yen gained as North Korea fired a missile over Japan. The cause of its appreciation was likely due to the unwinding of long risk positions, such as the carry trade. Once the short downtime in afterhours futures trading ended, Nikkei 225 fell as it responded to the news. Since then, stocks partially recovered as JPY fell.

Looking ahead, reactions from the major nations to North Korea’s action might leave the Japanese Yen vulnerable to risk trends. One of these remarks might stem from the White House. Last time this was the case when President Donald Trump responded to Pyongyang that escalating actions would be met with “fire and fury” from the US. After that, the Japanese Yen enjoyed a boost.

Yen More Focused on Developing Risk Trends Than In-Line Jobs DataYen More Focused on Developing Risk Trends Than In-Line Jobs Data

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

DISCLOSURES

News & Analysis at your fingertips.