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
Oil - US Crude
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
  • The Swiss Franc’s technical stance against the New Zealand Dollar and Japanese Yen has brightened, with the technical outlook in NZD/CHF and CHF/JPY primed to benefit CHF. Get your market update from @FxWestwater here:https://t.co/u4GY00QpgC https://t.co/WyAsQcl1Ra
  • 🇸🇬 Unemployment Rate Prel (Q2) Actual: 2.7% Previous: 2.9% https://www.dailyfx.com/economic-calendar#2021-07-30
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.25% Gold: 0.03% Oil - US Crude: -0.52% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/bgDO7ntMjQ
  • The Citi Economic Surprise Index tracking the US just turned negative for the first time since June 2020 This means economists are now overestimating the health and vigor of the economy, opening the door to disappointment ahead This does note bode well for NFPs next week...
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.00% 🇨🇭CHF: -0.04% 🇪🇺EUR: -0.05% 🇦🇺AUD: -0.09% 🇨🇦CAD: -0.13% 🇳🇿NZD: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/yZQPhHsvEr
  • Heads Up:🇸🇬 Unemployment Rate Prel (Q2) due at 02:30 GMT (15min) Previous: 2.9% https://www.dailyfx.com/economic-calendar#2021-07-30
  • Amazon Earnings Cast a Shadow on Nasdaq 100. APAC Stocks to Open Mixed https://www.dailyfx.com/forex/market_alert/2021/07/30/Amazon-Earnings-Cast-a-Shadow-on-Nasdaq-100-APAC-Stocks-to-Open-Mixed.html https://t.co/R5aoytGQvQ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.22%, while traders in Wall Street are at opposite extremes with 77.28%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/DdoKAC3hFV
  • Delta Variant accounts for 92% of new Covid cases in the US https://t.co/Ub43kJfk3L
  • Crude oil prices are trading largely unchanged following last week's rebound as the Delta variant of Covid and Chinese regulatory measures temper the near-term demand outlook. Get your market update from @FxWestwater here:https://t.co/T3oQa9qksd https://t.co/WdLYBIYQKU
Yen Spikes On Reports NSA McMaster Fired, Watch USD/JPY Range

Yen Spikes On Reports NSA McMaster Fired, Watch USD/JPY Range

David Cottle, Analyst

Talking Points:

  • The Japanese Yen got a sharp lift against the US Dollar Friday
  • US media including the Washington Post said that White House National Security Adviser HR Mc Master had been fired.
  • Risk aversion took a dip at this latest example of Administration instability

Find out how to avoid the most common mistakes traders make when dealing with major currencies like the Japanese Yen with the DailyFX Trading Guide

The Japanese Yen gained sharply against the Australian Dollar Friday on rising risk aversion following reports that US President Donald Trump had fired National Security Adviser Harold McMaster.

Reports of the firing were carried by the Washington Post and CNBC.

This looks like yet another example of instability at the top and comes after the resignation of economic adviser Gary Cohn earlier this month. He disagreed with the policy of increasing tariffs on steel and aluminum imports.

Given that tensions are apparently mounting with Russia and uncertainty over nuclear talks with North Korea it’s not surprising that markets should take a bit of fright at any sign of a similar national security split, and so they seem to have done. The Japanese Yen usually catches a haven bid in such circumstances and did so once more in this case.

Yen Spikes On Reports NSA McMaster Fired, Watch USD/JPY Range

Friday had been a sedate session devoid of eye-catching scheduled economic releases. However various news reports through the Asian morning added to the gloom.

Before the McMaster story broke there had also been reports that one of North Korea’s nuclear research reactors was under test. These probably didn’t help sentiment and neither did Japanese media suggesting that Prime Minister Shinzo Abe knew about a controversial land deal involving a company linked with his wife and the sale of State-owned ground.

On its daily chart, USD/JPY remains above the key downtrend channel in place from this year’s highs. A lower close Friday could see it back uncomfortably close to that level, but the broad range trade which has market out the action for the past couple of weeks looks set to endure.

Yen Spikes On Reports NSA McMaster Fired, Watch USD/JPY Range

Resources for Traders

Whether you’re new to trading or an old hand DailyFX has plenty of resources to help you. There’s our trading sentiment indicator which shows you live how IG clients are positioned right now. We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets. There’s also a Bitcoin guide. Be sure to make the most of them all. They were written by our seasoned trading experts and they’re all free.

--- 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