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.



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
Oil - US Crude
Wall Street
More View more
Real Time News
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 2.01% Gold: 1.07% Silver: 0.65% View the performance of all markets via
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.84% 🇬🇧GBP: 0.82% 🇨🇦CAD: 0.82% 🇨🇭CHF: 0.50% 🇪🇺EUR: 0.39% 🇯🇵JPY: 0.01% View the performance of all markets via
  • Canadian Dollar Forecast: USD/CAD Surge Pulls Back - Loonie Levels
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.54% US 500: 1.27% FTSE 100: 0.15% Germany 30: 0.12% France 40: 0.10% View the performance of all markets via
  • Worth keeping in mind that up to 45% of polysilicon used in solar panels comes from Xinjiang
  • According to Politico the US is considering imposing a ban on polysilicon from Xinjiang
  • USD/JPY gives back the advance following the Federal Reserve interest rate decision as the 10-Year US Treasury yield slips to a fresh monthly low. Get your $USDJPY market update from @DavidJSong here:
  • Heads Up:🇷🇺 Unemployment Rate (MAY) due at 16:00 GMT (15min) Expected: 5.2% Previous: 5.2%
  • ECB's Lagarde says the ECB still has room to cut rates if needed $EUR
  • ECB's Lagarde says the ECN still has room to cut rates if needed $EUR
Japanese Yen Falters As Nine-Quarter GDP Growth Run Ends

Japanese Yen Falters As Nine-Quarter GDP Growth Run Ends

David Cottle, Analyst


  • The Japanese economy contracted in the first quarter according to official data
  • This was the first such slip for nine quarters
  • The Yen’s position looks shaky, monetary policy will remain loose for the foreseeable future

Find out what the #1 mistake that traders make is and how you can avoid joining them

The Japanese Yen weakened Wednesday on news that its home economy shrank for the first time in nine quarters in the initial three months of 2018.

Official Gross Domestic Product for the first quarter fell 0.6% compared to the same period last year, according to official data. This was much worse than the expected flat result and only one of a number of weaker details in the release.

It also marked the end of the longest run of economic growth since the twelve-quarter runs seen in 1989 and 1986. The rise for 2017’s last three months was also revised down sharply, to 0.6% from 1.6% previously.

Growth contracted by 0.2% in the first quarter compared to that.

This weakness will do nothing to assuage views that the global recovery in general is running out of steam. It will also put the chances of any monetary tightening from the Bank of Japan much further off the table, although with inflation still stubbornly weak they were already pretty remote. The so-called 'Abenomics' economic refor programme will probably come under fire, as its effects seem to be waning, impressive though they have been on some counts

USD/JPY gained after the data, unsurprisingly, but the Dollar was already firmly resurgent thanks to gains in US Treasury yields overnight.

US Dollar Vs Japanese Yen, 5-Minute Chart.

On its broader daily chart, USD/JPY is rising again after a modest hiatus towards the end of last week. The pair is flirting once again with the highs of February which come in just above the current market. If the bulls can consolidate there, the highs of 2018, around 114.65, will be back in view. Wednesday's GDP data would seem to make another significant upmove much more probably on a fundamental basis.

US Dollar Vs Japanese Yen, Daily Chart.


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.