USD/JPY Weekly Analysis (week of 13-17/07)

Japan CFTC set for today at 7:30 PM.

Jul. 17, 2020

Yen is trading around 106.94 after starting the day at 107.25 (down -0.29%)

(20:00) GMT

After a mostly steady session USD/JPY lost 31 pips, trading at 106.94.

This downslide might be related to financial indicators data published earlier as Data for Japan CFTC was released today at 7:30 PM suggests a downwards trend with 18.3K, while previous data was 16.8K. Data for United States Retail Sales was released Thursday 12:30 PM is better than expected with 7.5%, but worse than previous figure of 18.2%. Data for United States Money Supply was released Thursday 12:30 PM is better than expected with 1,300K, but worse than previous figure of 1,310K.

Nonetheless, encouraging indicators for Yen published earlier when United States Building Permits released earlier shows an improvement to 1.241M from the preceding data of 1.216M, but falls short of the projected 1.290M.

At the same time, interesting moves noted elsewhere when Euro/Pound is trading around 0.91 after starting the session at 0.9031 (up 0.76%).

Jul. 16, 2020

Yen drifts to 107.26 (a 0.3% gain) after starting the day at 106.94

(22:00) GMT

USD/JPY rallied 32 pips (0.3%) deep into the session trading at 107.26.

Uptick comes while some more positive signs for Dollar/Yen are out as United States TIC Net Long-Term Transactions released today at 8:00 PM with a figure of 127.0B, this is better from previous number of -130.8B. United States Philly Fed Employment (Jul) released today at 12:30 PM with a figure of 20.1, this is better from previous number of -4.3.

Despite this, other data released earlier might suggest a different path as Data for United States Retail Sales was released today at 12:30 PM is better than expected with 7.5%, but worse than previous figure of 18.2%. While down from preceding data of 1,310K, United States Money Supply is better than expected at 1,300K according to new data released today at 12:30 PM.

In the meantime, interesting moves noted when Euro/Pound is trading around 0.91 after starting the session at 0.9031 (up 0.76%).

Jul. 15, 2020

After starting the day at 107.24, Dollar/Yen drifts to 106.93 (down 30 pips)

(22:00) GMT

USD/JPY remains in the 106.93 range after starting the session at 107.24 and dropping 30 pips.

Nonetheless, encouraging indicators for Dollar/Yen published earlier when Japan Capacity Utilization released Tuesday 4:30 AM with a figure of -11.6%, this is better from previous number of -13.3%. United States Seevol Cushing Storage Report released today at 1:30 PM with a figure of 1.748M, this is better from previous number of 1.566M.

Meanwhile, Japan Money Supply released today at 2:57 AM with a figure of -0.10%, while the previous figure was -0.10%.

At the same time, interesting moves noted elsewhere when Euro/Pound is trading around 0.91 after starting the session at 0.8949 (up 1.69%). Euro/Yen is trading around 122.04 after starting the session at 120.843 (up 0.99%).


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Jul. 14, 2020

Dollar/Yen hovers around 107.25

(22:00) GMT

A mostly flat day so far for USD/JPY, ranging between 107.25 and 107.22 and is now at 107.25.

This in-between state for Dollar/Yen is reflected by market data published as Japan Money Supply released earlier shows an improvement to -8.9% from the preceding data of -9.8%, but falls short of the projected -8.4%. Japan Tertiary Industry Activity Index (MoM) released Monday 4:30 AM with a figure of -2.1%, this is better from previous number of -7.7%. United States Crude Oil Inventories beats expectations of -2.100M with new data release of -8.322M. This is also a step forward from the previous data of 2.000M.

Meanwhile, mixed performance are seen elsewhere as Euro/Pound is trading around 0.91 after starting the session at 0.8949 (up 1.69%). Euro/Yen is trading around 122.29 after starting the session at 120.843 (up 1.2%).

Jul. 13, 2020

Yen is trading around 107.26 after starting the day at 106.91 (up 0.33%)

(22:00) GMT

USD/JPY rallied 35 pips (0.33%) deep into the session trading at 107.26.

This move comes while some more positive signs for Dollar/Yen are out as Japan Tertiary Industry Activity Index (MoM) released today at 4:30 AM with a figure of -2.1%, this is better from previous number of -7.7%.

Despite this, other data released earlier might suggest a different path as United States Budget Balance fall short of the -863.0B projections, with -864.0B and continued its downward trajectory from previous figure of -399.0B. Down from preceding data of 0.150%, United States 3-Month Bill Auction is released with a new figure of 0.145%. Data for United States 6-Month Bill Auction was released today at 3:30 PM suggests a downwards trend with 0.145%, while previous data was 0.165%.

With no clear-cut projections the market is looking forward for Japan Money Supply set for tomorrow at 11:00 PM.

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