Yen Edges Higher After Japan Surplus Grows

November 11, 2013

The Asian session was relatively calm and most major currency pairs were consolidating after much volatility on Friday following the US jobs report. The nonfarm payrolls showed more jobs were created in October, signalling a stronger economic recovery which bolsters the case for the Federal Reserve to taper stimulus as early as next month. 

It appears there was no significant impact from the US government shutdown, and the US jobs numbers beat economist forecasts, boosting Treasury yields and the US dollar. Nonfarm payrolls increased by a surprisingly strong 204,000, versus expectations for a rise of only 125,000.

Economic data released during the Asian session today were from Japan which showed a current account surplus in September. It was bigger-than-expected at 587 billion yen, versus 400 billion forecast. The previous month’s surplus was 161.5 billion. The surprise was due to an increase in earnings and profits from foreign investments.

The yen strengthened slightly on the data, bringing USDJPY down to the key 98.90 yen level. The dollar was little changed against the euro, with EURUSD trading $1.3363. EURJPY slid 0.1 percent to 132.29 yen. 

The Aussie was one of the biggest losers after the US jobs report on Friday, and today it hovered at $0.9385, having gone as deep as $0.9352 on Friday, its lowest in six weeks.

Publication source
FxNet information  FxNet reviews

October 21, 2016
EUR/USD remained unchanged after the ECB
The price maintained its bearish tone on Thursday. The EUR/USD pair stayed around its recent lows during the day. The euro slightly strengthened towards 1.1000 ahead of the US opening. The 50-EMA limited the euro recovery in the 1 hour chart...
October 21, 2016
Decisions on QE Postponed until December
Asian stock markets are narrowly mixed, with Japanese bourses managing marginal gains as the Yen falls against the Dollar. Stock futures in the U.S. are down...
October 21, 2016
EURUSD at $1.09, but declines could be limited
The ECB monetary policy meeting yesterday saw the euro give up its intraday gains to close on a bearish note. As Draghi signaled that the central bank would need time to assess the monetary policy situation...

FxPro Rating
Larson&Holz IT Ltd Rating
HotForex Rating
Fort Financial Services Rating
Grand Capital Rating
XM Rating

365BinaryOption Rating
Binary Brokerz Rating
Anyoption Rating
Grand Option Rating
OptionFair Rating
EZTrader Rating