Yen rebounds from year nadir against dollar

Economies.com
2018-10-15 05:49AM UTC

Dollar fell off November 6 highs against yen for the seventh session out of eight, following earlier industrial data from Japan and ahead of US retail sales data. 

 

As of 05:40 GMT, USD/JPY shed 0.19% to 112.00, with an intraday low at 111.94, and a high at 112.28. 

 

Earlier Japanese data showed the final reading for industrial output up 0.2%, compared to 0.7% in 0.7% in the preliminary reading, and a 0.2% decline in July, while on a yearly basis, output rose 0.2%, slowing down from 0.6%, as the capacity utilization rate rose 2.2%, compared to a 0.6% drop in July. 

 

Bank of Japan governor Kuroda said the current correction in markets is traded to higher US treasury yields, however he maintained that economic foundations for Japan, the US, and Europe are still the same. 

 

Investors now await US retail sales data, expected to have risen 0.7%, up from 0.1% in August, while core sales are estimated with a 0.4% increase, up from 0.3%. 

 

The Empire State Manufacturing index is expected at 20.4, up from 19 in September, while wholesale inventories are estimated to have increased another 0.5%, adding to the 0.6% addition in July. 

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

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 ...
GBP USD Analysis

Forex

The GBPUSD forecast update 28-03-2024
2024-03-28 10:19AM UTC
GBPUSD Trading Analysis The GBPUSD price shows calm bearish bias to gradually approach our first ...