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
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
Oil - US Crude
Bullish
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
Mixed
USD/JPY
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
More View more
Real Time News
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/VzEbQn8blk
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/bZEFtp8kFe https://t.co/ETF52Q2sLz
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/AXZxK8Abrh
  • Global stock markets may see turbulent volatility if darkening clouds over Washington’s relations with Beijing turn into a geopolitical storm. Which assets will be the lifeboat? Find out here:https://t.co/RkFI6qAyik https://t.co/9Ppa4d48Ql
  • The Dow Jones and S&P 500 outlook appears bleak in the near term as retail traders increase their upside exposure. At the same time, these indices confirmed bearish technical warning signs. Get your market update from @ddubrovskyFX here:https://t.co/fKCHELbOxo https://t.co/e0liqVDzw6
  • The Japanese Yen may fall against its major peers, but there is room for a near-term climb that wouldn’t necessarily overturn a bearish technical bias. USD/JPY is eyeing support. Get your market update from @ddubrovskyFX here:https://t.co/AEnQCXnwAL https://t.co/tuq7DDF3jE
  • Protests in Colombia may continue to pressure the Peso, but surging commodity prices and a weaker Greenback could curb USD/COP gains. Get your market update here:https://t.co/vcVH75xuKI https://t.co/kEvbsagB4a
  • Money never sleeps.... https://t.co/mAkpWd2M3O
  • The US exchanges are closed and now we have to turn over to the cryptocurrency charts to monitor developments in risk trends over the weekend. Unfortunately, it can be difficult to separate systemic sentiment influences vs isolated issues (like a celebrity's tweet about a coin)
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.93% 🇦🇺AUD: 0.72% 🇪🇺EUR: 0.55% 🇨🇦CAD: 0.50% 🇬🇧GBP: 0.32% 🇯🇵JPY: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rzD7Gp4VIC
Japanese Yen Up On Kuroda Speech, US Tarriffs Spook Asian Stocks

Japanese Yen Up On Kuroda Speech, US Tarriffs Spook Asian Stocks

David Cottle, Analyst

Talking Points:

  • The Japanese Yen made late session gains in Tokyo
  • The BOJ Governor was measured and committed to loose monetary policy, but did comment on when it might end
  • Worries about US protectionism gave Asian stocks the vapors

What’s the secret ingredient? Is there one? Check out the DailyFX deep, deep dive into the Traits of Successful Traders

The Japanese Yen was very much in focus through Friday’s Asian session, during which it rose against the US Dollar thanks to unusually explicit comments about the likely end of monetary easing from Bank of Japan Governor Haruhiko Kuroda, newly returned to office for an unprecedented second straight term.

While reiterating that the BoJ remains fully committed to current, ultra-loose monetary settings until consumer prices sustainably hit a 2% annualized target they are presently nowhere near, Kuroda did make some unusual additional points.

He said that neither monetary easing nor tightening ever lasts forever and that, if inflation continues to rise, it should hit the target around fiscal 2019, allowing the BoJ to consider a policy exit. The Japanese Yen market has been on tenterhooks for any sign that such an exit is to be considered and, while Kuroda was only stating the logically obvious –when the target is hit stimulus can be withdrawn- the currency rose sharply on his words.

Japanese Yen Up On Kuroda Speech, US Tarriffs Spook Asian Stocks

Kuroda also said that there was no chance of policy being withdrawn soon, however, as it seemed to be working. Japanese inflation has indeed risen. January’s 1.4% Consumer Price Index gain was the strongest since March, 2015. Friday also bought news that Japanese unemployment levels hit 25-year lows in January.

Moving across to equity, Asian stocks were broadly lower Friday after US President Donald Trump announced new tariffs on incoming steel and aluminum. Asia is of course replete with exporters of both. The Nikkei 225 shed 2.50%, the ASX 200 lost 0.7% and all other major regional bourses were in the red as their closes loomed for the week.

Gold prices inched higher through the session while crude oil prices put in a more mixed and subdued showing. Both international benchmark Brent and US crude were above their recent, two-week lows however.

The rest of the session will bring Italian growth data, the UK construction-sector Purchasing Managers Index and the University of Michigan’s time-honored look at US consumer sentiment.

--- Written by David Cottle, DailyFX Research

Follow David on Twitter:@DavidCottleFX or use the Comments section below to get in touch!

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

DISCLOSURES