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.

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
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
Oil - US Crude
Bearish
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
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
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
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • Italian Political risks on the rise amid reports from local press (Corriere) that PM Conte could be tempted by snap elections - Bund/BTP Spread widest since November - FTSE MIB among underperformers thus far https://t.co/mJFLktn4sA
  • Technical analysis of charts aims to identify patterns and market trends by utilising differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/RSHYD7kI4B
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here: https://t.co/dWaWQ0MK1V https://t.co/BAUGbFNJ9d
  • IHS Markit “Services have once again been especially hard hit, but manufacturing has seen growth almost stall, blamed on a cocktail of COVID-19 and Brexit, which has led to increasingly widespread supply delays, rising costs and falling export" https://t.co/4lzdYJNqLu
  • 🇬🇧 Markit/CIPS UK Services PMI Flash (JAN) Actual: 38.8 Expected: 45 Previous: 49.4 https://www.dailyfx.com/economic-calendar#2021-01-22
  • 🇬🇧 Markit/CIPS Manufacturing PMI Flash (JAN) Actual: 52.9 Expected: 54 Previous: 57.5 https://www.dailyfx.com/economic-calendar#2021-01-22
  • 🇬🇧 Markit/CIPS Composite PMI Flash (JAN) Actual: 40.6 Expected: 45.5 Previous: 50.4 https://www.dailyfx.com/economic-calendar#2021-01-22
  • Litecoin IG Client Sentiment: Our data shows traders are now at their most net-long Litecoin since Nov 25 when Litecoin traded near 81.55. A contrarian view of crowd sentiment points to Litecoin weakness. https://www.dailyfx.com/sentiment https://t.co/48NRtK0I8O
  • Heads Up:🇬🇧 Markit/CIPS UK Services PMI Flash (JAN) due at 09:30 GMT (15min) Expected: 45 Previous: 49.4 https://www.dailyfx.com/economic-calendar#2021-01-22
  • Heads Up:🇬🇧 Markit/CIPS Manufacturing PMI Flash (JAN) due at 09:30 GMT (15min) Expected: 54 Previous: 57.5 https://www.dailyfx.com/economic-calendar#2021-01-22
USDJPY Holds Its Ground as US, China Trade Spat Dominates Markets

USDJPY Holds Its Ground as US, China Trade Spat Dominates Markets

Martin Essex, MSTA, Analyst

USDJPY talking points:

- The trade battle between the US and China continues to dominate global markets.

- However, there’s been no sign of panic in the markets and therefore no strong demand for haven assets like the Japanese Yen and gold.

Check out the IG Client Sentiment data to help you trade profitably.

And take a look at our Q2 forecasts for the major currency pairs, gold, oil and equities.

Little demand for haven assets

There’s been no strong demand for haven assets as European traders arrive at their desks for the new week despite the continuing row between China and the US over trade and geopolitical concerns centring on the latest developments in Syria.

USDJPY, a bellwether for traders’ willingness to buy riskier assets, moved ahead modestly Monday, remaining in the upward trend that began in late March. While an escalation of tensions would likely send USDJPY lower, there has been little sign of that happening so far this session.

USDJPY Price Chart, Daily Timeframe (December 8, 2017 – April 9, 2018)

Latest USDJPY price chart.

Chart by IG

Similarly, there’s been no strong demand for gold, which is also seen as a haven asset but continues to trade sideways, attracting little demand.

Gold Price Chart, Daily Timeframe (December 8, 2017 – April 9, 2018)

Latest gold price chart.

Chart by IG

Looking ahead, traders are waiting for a keynote speech by Chinese President Xi Jinping at the Boao Forum Tuesday. Meanwhile, there has been little response so far to the latest news from Syria. The attack on an airbase and a suspected chemical attack on Saturday have both ratcheted up Middle East tensions but the markets have so far shrugged off these latest developments.

Resources to help you trade the forex markets

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you: analytical and educational webinars hosted several times per day, trading guides to help you improve your trading performance, and one specifically for those who are new to forex. You can learn how to trade like an expert by reading our guide to the Traits of Successful Traders.

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

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

DISCLOSURES