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.

Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bullish
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
Bearish
More View more
Real Time News
  • Heads Up:🇯🇵 JPY Jobless Rate (FEB) due at 23:30 GMT (15min), Actual: N/A Expected: 2.4% Previous: 2.4% https://www.dailyfx.com/economic-calendar#2020-03-30
  • 🇬🇧 GBP GfK Consumer Confidence (MAR), Actual: -9 Expected: -15 Previous: -7 https://www.dailyfx.com/economic-calendar#2020-03-30
  • Heads Up:🇬🇧 GBP GfK Consumer Confidence (MAR) due at 23:01 GMT (15min), Actual: N/A Expected: -15 Previous: -7 https://www.dailyfx.com/economic-calendar#2020-03-30
  • $EURUSD chart positioning hints the Euro may be running out of steam following a spirited recovery but sentiment studies continue to argue for the upside.Get your EUR/USD market update from @IlyaSpivak here:https://t.co/zp2oz1G2QZ https://t.co/YsxURDW4aT
  • Frankly, I'm surprised the 'equity market related economic uncertainty index' the Fed measures isn't higher. Apologies for using the Wilshire 5000. They don't have significant SPX or Dow historical https://t.co/CioVpmmdv9
  • Market snapshot: #NZD up over 0.5% vs G10 FX heading into Asia's Tuesday trading session [delayed].
  • 🇳🇿 NZD Building Permits (MoM) (FEB), Actual: 4.7% Expected: N/A Previous: -2.0% https://www.dailyfx.com/economic-calendar#2020-03-30
  • Heads Up:🇳🇿 NZD Building Permits (MoM) (FEB) due at 21:45 GMT (15min), Actual: N/A Expected: N/A Previous: -2.0% https://www.dailyfx.com/economic-calendar#2020-03-30
  • USTR Lighthizer says G20 should stay focused on pandemic, not try to use it to push other agendas in trade or elsewhere #Tradewar
  • In a positive development, the S&P 500 did not hit limit down after this week’s open for US equity futures. Get your #S&P500 technical analysis from @JStanleyFX here: https://t.co/7LDq88mYPE https://t.co/O6njknUzvV
Asia AM Digest: US Dollar Under Fire as Jobs Data Looms Ahead

Asia AM Digest: US Dollar Under Fire as Jobs Data Looms Ahead

2018-02-02 00:00:00
DailyFX Research,
Share:

To get the Asia AM Digest every day, SIGN UP HERE

The US Dollar was back on the defensive Thursday, shrugging off an upbeat manufacturing ISM survey. The move might have reflected precautionary repositioning ahead of Friday’s deluge of US economic data releases, including January’s labor-market report as well as durable goods orders, factory orders and consumer confidence statistics.

The Euro surged amid rumors that a group of ECB policymakers is pushing President Mario Draghi to give definitive guidance on when rates might rise. The reports’ sources opted for anonymity, but that did not seem to deter the markets’ enthusiasm for its potentially hawkish implications. The officials in question were apparently only calling for transparency and not necessarily for sooner tightening however.

The Japanese Yen fell as Asia Pacific stocks recovered, weighing on the perennially anti-risk currency. The Australian Dollar likewise declined, weighed down by another round of worrying domestic data. Disappointing CPI data earlier in the week was following by a slump in building permits and a third consecutive monthly drop in the price for Australian exports on global markets.

DailyFX Economic Calendar: Asia Pacific (all times in GMT)

Asia AM Digest: US Dollar Under Fire as Jobs Data Looms Ahead

DailyFX Webinar CalendarCLICK HERE to register (all times in GMT)

Asia AM Digest: US Dollar Under Fire as Jobs Data Looms Ahead

IG Client Sentiment Index Chart of the Day: AUD/JPY

Asia AM Digest: US Dollar Under Fire as Jobs Data Looms Ahead

CLICK HERE to learn more about the IG Client Sentiment Index

Retail trader data shows 39.0% of traders are net-long AUD/JPY, with the ratio of traders short to long at 1.56 to 1. In fact, traders have remained net-short since Jan 16 when AUD/JPY traded near 88.05; price has moved 0.1% lower since then. The percentage of traders net-long is now at its highest since Jan 24 when AUD/JPY traded near 87.997. The number of traders net-long is 17.4% higher than yesterday and 5.8% higher from last week, while the number of traders net-short is 24.8% lower than yesterday and 39.0% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests AUD/JPY prices may continue to rise. Yet traders are less net-short than yesterday and compared with last week. Recent changes in sentiment warn that the current AUDJPY price trend may soon reverse lower despite the fact traders remain net-short.

Five Things Traders are Reading:

  1. AUD/USD Rally Unravels Ahead of Reserve Bank of Australia (RBA) Meeting by David Song, Currency Analyst
  2. USD/CAD Opens February at Support- Rallies to Be Sold by Michael Boutros, Currency Strategist
  3. NFP Price Action Setups Around the U.S. Dollar by James Stanley, Currency Strategist
  4. Becoming a Better Trader – Q&A for Performance Improvement by Paul Robinson, Market Analyst
  5. Will Ethereum (ETH) Knock Bitcoin (BTC) Off its Top Spot? by Nick Cawley, Analyst

To get the Asia AM Digest every day, sign up here

To get the US AM Digest every day, sign up here

To get both reports daily, sign up here

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

DISCLOSURES

News & Analysis at your fingertips.