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
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
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
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
Bullish
USD/JPY
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
More View more
Real Time News
  • Heads Up:🇿🇦 ABSA Manufacturing PMI (JUL) due at 09:00 GMT (15min) Previous: 53.9 https://www.dailyfx.com/economic-calendar#2020-08-03
  • 🇬🇧 Markit/CIPS Manufacturing PMI Final (JUL) Actual: 53.3 Expected: 53.6 Previous: 50.1 https://www.dailyfx.com/economic-calendar#2020-08-03
  • Heads Up:🇬🇧 Markit/CIPS Manufacturing PMI Final (JUL) due at 08:30 GMT (15min) Expected: 53.6 Previous: 50.1 https://www.dailyfx.com/economic-calendar#2020-08-03
  • 💶 Markit Manufacturing PMI Final (JUL) Actual: 51.8 Expected: 51.1 Previous: 47.4 https://www.dailyfx.com/economic-calendar#2020-08-03
  • 🇩🇪 Markit Manufacturing PMI Final (JUL) Actual: 51 Expected: 50 Previous: 45.2 https://www.dailyfx.com/economic-calendar#2020-08-03
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/Z4WgszEBoh
  • 🇮🇹 Markit/ADACI Manufacturing PMI (JUL) Actual: 51.9 Expected: 51.2 Previous: 47.5 https://www.dailyfx.com/economic-calendar#2020-08-03
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.31%, while traders in US 500 are at opposite extremes with 79.05%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/n9V97YGVVi
  • Heads Up:💶 Markit Manufacturing PMI Final (JUL) due at 08:00 GMT (15min) Expected: 51.1 Previous: 47.4 https://www.dailyfx.com/economic-calendar#2020-08-03
  • Heads Up:🇩🇪 Markit Manufacturing PMI Final (JUL) due at 07:55 GMT (15min) Expected: 50 Previous: 45.2 https://www.dailyfx.com/economic-calendar#2020-08-03
Japanese Yen Slips On Mixed Data Bag, Pricing Power Still Absent

Japanese Yen Slips On Mixed Data Bag, Pricing Power Still Absent

2019-03-29 00:20:00
David Cottle, Analyst
Share:

Japanese Yen, Retail Sales, Employment, Industrial Production and Tokyo CPI Talking Points:

  • Huge data release, but nothing to change the game for Yen traders
  • Employment is holding up, but in a completely non-inflationary manner
  • Retail sales and industrial production remained weak

Join our analysts for live, interactive coverage of all major economic data at the DailyFX Webinars. We’d love to have you along.

The Japanese Yen weakened slightly following a mixed bag of Japanese economic data which confirmed that trade tensions continue to bedevil the economy while inflation remains utterly torpid.

February’s industrial production rose by an expected 1.4% on the month, but this was merely some bounce back from January’s woeful 3.4% swoon. Production fell by 1% on the year, just a little better than the 1.1% slip expected.

Tokyo’s March Consumer Price Index rose by just 0.7% on the year excluding the volatile effects of food and energy costs. These data come out about three weeks before the national CPI and suggest that the Bank of Japan’s target of sustained 2% annualized price rises looks as elusive as ever.

February’s nationwide jobless rate fell to 2.3% from the 2.5% expected. Clearly Japan’s run of strong but utterly non-inflationary employment creation goes on. Retail sales rose by just 0.4% on the year, well below the 1% gain hoped for.

The Japanese Yen has been gaining modestly on the US Dollar into the data, but the process was halted by the releases and USD/JPY seemed to find a floor.

US Dollar Vs Japanese Yen, 5-Minute Chart

In truth these numbers merely confirm what just about every Japanese Yen investor must already know- that Japan’s economy continues to recover modestly despite global growth worries, but with pricing power still largely absent.

On its broader, daily chart, USD/JPY bulls continue to fight back against the topping out process evident by the pair’s failure to retake the peaks of February and mid-March. For the moment those bulls are making a fight of it at JPY110.07 support, which probably not coincidentally is the second, 38.2% retracement of this year’s rise.

US Dollar Vs Japanese Yen, Daily Chart

However, they have so far failed to retake the first retracement level which comes in at 110.86. They’ll need to do that and more if they are to avoid the obvious lower-low which seems to be forming on the daily chart.

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

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.