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
Oil - US Crude
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
Wall Street
Bearish
Gold
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
GBP/USD
Bearish
USD/JPY
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
More View more
Real Time News
  • I don't think this has any easier a path to developing into momentum ahead of the Fed decision as bullish efforts elsewhere, but the $DJI Dow is tentatively breaking lower and the Nasdaq-to-Dow ratio usually showing spec reach is rising: https://t.co/eN8xb6JOhW
  • WTI crude oil has room to rally further. Around the 77 mark lies substantial long-term resistance. Get your market update from @PaulRobinsonFX here:https://t.co/J0qpmLG6wF https://t.co/M2sThc69rK
  • In May of last year, Paul Tudor Jones made a big statement in support of #BTC - was trading under 10k at the time. https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/05/07/Bitcoin-Breakout-BTC-to-Fresh-Highs-JS-as-PTJ-Makes-Bull-Case-Bitcoin-to-USD.html 13 months later, he made some add'l remarks on #Bitcoin ahead of #FOMC - talked about it in this article https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/06/14/has-bitcoin-btc-btcusd-bottomed-ptj-makes-bull-case.html
  • ERCOT issues conservation alert, Texans asked to reduce electric use $CL_F #Oil #OOTT
  • NY Fed accepts $583.9 billion in reverse repo operations, highest total ever $USD
  • UK's Boris Johnson: - Delaying the lifting of lockdown by 4 weeks to July 19 - Extension of lockdown rules will enable vaccine rollout $GBP
  • UK's Boris Johnson: Opening up the economy has led to more infections, cases are growing by 64% a week $GBP
  • 🇧🇷 Business Confidence (JUN) Actual: 61.7 Previous: 58.5 https://www.dailyfx.com/economic-calendar#2021-06-14
  • IG Client Sentiment Update: Our data shows the vast majority of traders in EUR/CHF are long at 74.94%, while traders in France 40 are at opposite extremes with 78.51%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/mAeMikv4Fm
  • Heads Up:🇧🇷 Business Confidence (JUN) due at 17:00 GMT (15min) Previous: 58.5 https://www.dailyfx.com/economic-calendar#2021-06-14
Japanese Yen Retains Risk-Off Support Despite Tokyo CPI Misses

Japanese Yen Retains Risk-Off Support Despite Tokyo CPI Misses

David Cottle, Analyst

JAPANESE YEN, TOKYO CPI TALKING POINTS:

  • Tokyo’s Consumer Price Index missed forecasts
  • The Yen didn’t take much notice
  • Broad risk appetite is supporting it as investors fret the cancelled summit between Donald Trump and Kim Jong Un

New to Foreign Exchange Trading? Try the free DailyFX guide

The Japanese Yen didn’t move far Friday despite some more underwhelming news on inflation in the key Tokyo region. However, it continues to pressure the US Dollar as risk appetite wilts and investors wonder about the likely scale of US interest rate rises ahead.

May’s official Tokyo Consumer Price Index rose by 0.4% on the year. That was below the 0.5% expected, which matched April’s print. Excluding food and energy the rise was just 0.2%, when the markets had looked for a 0.3% gain.

Japan’s national CPI has attracted much comment this year as it seemed at one point to be showing the sort of strength that Bank of Japan has long been trying to engineer. However its strength has clearly petered out once more. The last annualized print was just 0.6%, weakening and still miles away from the sustainable 2% target which the BoJ would like to see.

Friday’s data alsocame against a crowded news backdrop and failed to grab market attention.

US Dollar Vs Japanese Yen, 5-Minute Chart.

indeed, despite the clear monetary policy divergence between a still-tightening Federal Reserve and a BoJ still committed to massive stimulus for an indefinite period, the Yen has made gains this week.

A little rethink about the likely magnitude of US interest rate rises beyond this year has put some brakes on the greenback’s broad rise, with worries about a trade war with China not helping its cause either. Now the cancellation of a planned nuclear summit between President Donald Trump and North Korean leader Kim Jong Un has sapped risk appetite once more and favored the Japanese currency.

On its daily chart, USD/JPY has this week clearly snapped the uptrend which had previously guided trade higher for the past couple of months.

US Dollar Vs Japanese Yen, Daily Chart

This week’s falls have already taken it below the first, 23.6% Fibonacci retracement of that entire rise. The focus now is on the second retracement which is probably uncomfortably close to the current market for Dollar-bulls’ tastes. It comes in at 108.79

Direct message

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