USD/JPY backs off five-week high

Economies.com
2021-01-13 06:12AM UTC

USD/JPY tilted lower in Asian trade off December 10 highs following earlier data from Japan and ahead of US data and Fed speeches. 

 

As of 07:04 GMT, USD/JPY fell 0.09% to 103.67, with a session-low at 103.53. 

 

From Japan, the M2 money supply rose 9.2% as expected in December, up from 9.1% in November, while machine orders rose 8.7%, up from 8.6% in November. 

 

The Japanese government is reportedly looking into extending the emergency state to other areas to help control the spread of the coronavirus. 

 

From the US, consumer prices are expected up 0.4% in December, while core prices are expected up 0.1%. 

 

On a yearly basis, consumer prices are expected up 1.3%, while core yearly prices are expected up 1.6%, same as before. 

 

Federal Reserve Governor Richard Clarida is due to participate in a virtual discussion about the Federal Reserve's new framework at the Hoover Institution Monetary Policy Conference.

 

The US government will unveil its new budget, expected to show the deficit down to $144.5 billion from $145.3 billion in November. 

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

EUR USD Analysis

Forex

End of day EURUSD price forecast update - 28-03-2024
2024-03-28 17:42PM UTC
The EURUSD price provided additional negative trades to reach the thresholds of the first waited ...
NZD USD Analysis

Forex

The NZDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
NZDUSD Price Analysis The NZDUSD price resumes its negative trading to move away from 0.6000$ ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
AUDUSD Price Analysis The AUDUSD price achieved initial break to 0.6500$ level and closed the ...