Yen Edges Higher After Japan Surplus Grows

11 November, 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.

Source link  
Aussie declines despite shrinking Australian trade deficit

The Asian session was calm as the economic calendar was light and most investors were positioning ahead of key risk events later this week, primarily the US nonfarm payrolls report on Friday...

USD/JPY slips as Nikkei falls in risk-off market after disappointing China PMI data

The first full trading week of 2014 began today, with Japan opening for the first time after a two-week holiday...

Technical Analysis On Major Currencies By FXNET

The pair extended the positive trading, whereas it approached 61.8% correction at 1.3625

Euro Hits Fresh 1-Month High After German Inflation Data

The dollar rose above 102.00 yen for the first time since May 29, while the euro flirted with the key $1.36 handle and hit a new four-year high within striking distance of 139.00 yen...

Aussie Powers Through & Dollar Hits New 6-Month High Against Yen

The best performing currency during Thursday’s Asian session was the Australian dollar which jumped against its US counterpart after strong Australian business spending data. Private Capital Expenditure increased by 3.6% quarter-on-quarter despite expectations for a decline by 1.1%...

Sterling and Euro Outperform Vs US Dollar

The main currency of the day was the sterling which outperformed against the dollar and euro, as well as against the yen after being boosted by strong UK second quarter growth data...

Euro Steady Around $1.35

The euro was stronger today particularly against the dollar and the pound. While there were no economic data releases today from the Eurozone to explain the move, there were some headline news which affected sterling and dollar...

Yen Up Against Dollar After Weak US Data

The yen was supported by safe haven demand today after the release of a slightly dovish Bank of Japan policy meeting minutes. The minute from last weeks meeting showed some concern about Japans economic outlook and whether the central bank 2% inflation target could be met...

EUR/JPY Hits A New 4-Year High

The dollar remains bullish against the yen, while the euro hit a new four-year high against the Japanese currency in todays Asian session...

In the past 24 hours Bitcoin has lost -0.64% and reached $6468.79592856. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has gained 0.6352% and is now at $1.1587. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 3.4% and is now at $204.373825814. Have the most popular cryptocurrencies compared online 24/7.

Top Brokers offering Forex Market Analysis

Forex Currencies Forecasts

Top 10 Forex Brokers 2018

# Broker Review
6FIBO GroupFIBO Group84%