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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
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
Wall Street
More View more
Real Time News
  • 🇯🇵 Coincident Index Final (SEP) Actual: 81.1 Expected: 80.8 Previous: 79.4
  • 🇯🇵 Leading Economic Index Final (SEP) Actual: 92.5 Expected: 92.9 Previous: 88.5
  • The Dollar has closed with a technical break to its lowest level since April 2018 after the Dow's 30,000 break. Yet seasonality may curb the potential on high-level trends, where are risk trends pointing short, medium and long-term?
  • Heads Up:🇯🇵 Leading Economic Index Final (SEP) due at 05:00 GMT (15min) Expected: 92.9 Previous: 88.5
  • Heads Up:🇯🇵 Coincident Index Final (SEP) due at 05:00 GMT (15min) Expected: 80.8 Previous: 79.4
  • RT @FxWestwater: S&P 500 May Rise Further, Fed-Treasury Affray Brushed Aside for Now Link: $SPX $SPY #FOMC #FED ht…
  • The US Dollar lost ground to most ASEAN currencies as Emerging Market assets climbed despite US economic woes. USD/INR is eyeing third-quarter Indian GDP at the end of the week. Get your market update from @ddubrovskyFX here:
  • How does stock market liquidity benefit its traders? Learn more here.
  • BoK Governor Lee says Yellen a rational pick for Fed, would be positive for markets - BBG
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.39% Silver: 0.27% Gold: 0.15% View the performance of all markets via
Japanese Yen Steady Despite GDP Miss, USD/JPY In Danger Zone

Japanese Yen Steady Despite GDP Miss, USD/JPY In Danger Zone

2017-09-08 00:23:00
David Cottle, Analyst

Talking Points:

  • Japanese growth data saw a sharp lower revision
  • The markets had been prepared for a cut to growth but this was a big one
  • The Yen sailed serenely on, however, with USD/JPY rising in the aftermath

We’ve looked through 40 million real trades in search of the Traits of Successful Traders

The Japanese Yen was steady Friday following a mixed set of key data from its homeland.

The big shock came in a sharp final revision to second quarter Gross Domestic Product numbers. Initially estimated at 4% annualized, the Japanese statistics agency now claims that growth was a mere 2.5%. The markets had been looking for a fairly sharp downward adjustment, to 2.9%. In the event they were too optimistic. Still, Japanese growth still looks acceptable by developed market standards.

Moreover, with Japanese monetary policy apparently set in stone until inflation rises sustainably, the link between economic data and the Yen is often weak, which may explain the lack of reaction to these numbers. And there wasn’t much sign of inflation in the GDP data. Its measure, the so-called deflator, stood at -0.4%, as expected.

The data weren’t all bad, by any means. July’s trade balance came in at JPY566.7 billion (US$5.2 billion), which was a little better than the JPY518 billion expected.

USD/JPY continued to meander lower after the figures. The greenback has been under some pressure against the Euro in the last few hours despite European Central Bank President Mario Draghi’s disinclination to signal any monetary tightening on Thursday.

Japanese Yen Steady Despite GDP Miss, USD/JPY In Danger Zone

On a broader, daily chart, it’s clear that USD/JPY has made a second lower high in recent sessions and has now re-entered the danger zone (for bulls) which protects the year’s lows. This has seen quite doughty defense in the past but, with a downtrend clearly in place, a break would seem to be merely a matter of time.

Japanese Yen Steady Despite GDP Miss, USD/JPY In Danger Zone

--- 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.