oanda_logo
  • Sign in
  • Open an account

Sign in

Select account:

  • Currency converter
    • Converter
    • Tools
    • Mobile
    • Live rates
    • Historical rates
    • Embed converter
    • Help
  • FX Data Services
    • FX Data Services overview
    • Exchange Rates API
    • Corporate FX transfers
    • Historical currency converter
    • Contact us
    • Blog
  • OANDA Group
    • About OANDA
    • Media centre
    • Careers
Logotype
The Beat of the Global Markets
  • Home
  • News Events
    • Brexit
    • COVID-19
    • Earnings season
    • Non-farm payrolls
    • Trade war
  • Markets
    • FX
    • Indices
    • Commodities
    • Crypto
  • Multimedia
    • Podcasts
    • Videos
  • Economic calendar
  • Analysts
Home/FX/Newsfeed

USD/JPY – Dollar Edges up to 116 Yen, Trump Press Conference Next

January 11, 2017 Share Print 0

USD/JPY has posted slight gains in the Wednesday session. In North American trade, the pair is trading at 116.20. On the release front, Japan’s current surplus is expected to narrow to JPY 1.48 trillion. There are no major US events on the schedule. On Thursday, the US releases unemployment claims, with the indicator expected to rise to 266 thousand.

With only a handful of events on the Wednesday schedule, the markets will be keeping a close eye on the Trump show later in the day. Trump will host a press conference out of the Trump Towers in New York City. Trump hasn’t spoken formally with the press in six months, choosing instead to send pithy comments on his Twitter account. The president-elect had plenty to say about the ills of the US economy on the campaign trail, but was short on specifics. He has gone on record promising tax cuts and significant fiscal spending to repair the country’s infrastructure. Trump has said he will implement protectionist policies, which has lessened investors’ appetite for risk. The markets will be hoping for more specifics about economic policy, with just over a week until Inauguration Day. The US dollar has climbed sharply since mid-November, as the US economy sails full steam ahead in 2017.

Japanese consumers remain pessimistic about the economy, but there was a silver lining from the latest Consumer Confidence indicator, which rose to 43.1 points in December. This figure beat expectations and marked the indicator’s highest level since September 2013. Will the economy improve in 2017? There are some positive signs as we enter 2017. A weaker Japanese yen has boosted exports, and the Bank of Japan has given the economy a cautious thumbs-up, raising its growth projections. If improving consumer confidence translates into stronger consumer spending, we could see improved readings from key Japanese indicators.

The US released key employment numbers on Friday and USD/JPY responded with sharp gains. Wages rebounded in December, as Average Hourly Earnings climbed 0.4%, edging above the estimate of 0.3%. This marked a strong turnaround after the November reading of -0.1%. The news was less positive from Nonfarm Payrolls, which dropped to 156 thousand, well off the estimate of 175 thousand. This marked a 3-month low, but the dollar still posted gains.

USD/JPY Fundamentals

Wednesday (January 11)

  • 00:00 Japanese Leading Indicators. Estimate 102.6%. Actual 102.7%
  • 10:30 US Crude Oil Inventories. Estimate 0.9M
  • 11:00 President-Elect Trump Speech
  • 13:01 US 10-year Bond Auction
  • 13:20 US FOMC Member William Dudley Speech
  • 18:50 Japanese Bank Lending. Estimate 2.4%
  • 18:50 Japanese Current Account. Estimate 1.48T

Thursday (January 12)

  • 8:30 US Unemployment Claims. Estimate 266K

*All release times are GMT

*Key events are in bold

USD/JPY for Wednesday, January 11, 2017

USD/JPY January 11 at 7:00 EST

Open: 115.87 High: 116.46 Low: 115.66 Close: 116.25

USD/JPY Technical

S3 S2 S1 R1 R2 R3
113.80 114.83 115.88 116.88 118.05 118.85
  • USD/JPY showed little movement in the Asian session and has posted slight gains in European trade
  • 115.88 remains fluid. Currently, it is providing weak support
  • 116.88 is the next resistance line
  • Current range: 115.88 to 116.88

Further levels in both directions:

  • Below: 115.88, 114.83, 113.80 and 112.57
  •  Above: 116.88, 118.05 and 118.85

OANDA’s Open Positions Ratio

USD/JPY ratio is unchanged in the Wednesday session. Currently, short positions have a small majority (51%), indicative of a lack of trader bias towards what direction USD/JPY will take next.

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

  • Bio
  • Google+
  • Latest Posts
Kenny Fisher

Kenny Fisher

Market Analyst at OANDA
A highly experienced financial market analyst with a focus on fundamental analysis, Kenneth Fisher’s daily commentary covers a broad range of markets including forex, equities and commodities. His work has been published in several major online financial publications including Investing.com, Seeking Alpha and FXStreet. Based in Israel, Kenny has been a MarketPulse contributor since 2012.
Kenny Fisher

+Kenny Fisher

Kenny Fisher

Latest posts by Kenny Fisher (see all)

  • Will Canada job report boost CAD? - 04/09/2021
  • NZD rises despite soft business confidence - 04/08/2021
  • Pound steadies on sharp Construction PMI - 04/08/2021
FX, Japanese Bank Lending, Japanese Current Account, Japanese Leading Indicators, jpy, President-Elect Trump Speech, S FOMC Member William Dudley Speech, US 10-year Bond Auction, US Crude Oil Inventories, US Unemployment Claims, usd, USD/JPY
Back to Top
Subscribe
Subscribe form
Week ahead
Week Ahead: Fed’s inflation calm is about to get teste...
Posted by Ed Moya Apr 9, 2021
FX
Market Insights Podcast (Episode 185)
Posted by Ed Moya Apr 9, 2021
Canadian dollar rallies on robust jobs report, US Producer I...
Posted by Ed Moya Apr 9, 2021
Will Canada job report boost CAD?
Posted by Kenny Fisher Apr 9, 2021
Indices
Week Ahead: Fed’s inflation calm is about to get teste...
Posted by Ed Moya Apr 9, 2021
Asian equities are subdued
Posted by Jeffrey Halley Apr 9, 2021
Asian equities are mixed
Posted by Jeffrey Halley Apr 8, 2021
Commodities
Week Ahead: Fed’s inflation calm is about to get teste...
Posted by Ed Moya Apr 9, 2021
Market Insights Podcast (Episode 185)
Posted by Ed Moya Apr 9, 2021
Commodities and Cryptos: Oil drops, Gold stumbles as yields ...
Posted by Ed Moya Apr 9, 2021
Crypto
Week Ahead: Fed’s inflation calm is about to get teste...
Posted by Ed Moya Apr 9, 2021
Market Insights Podcast (Episode 185)
Posted by Ed Moya Apr 9, 2021
Commodities and Cryptos: Oil drops, Gold stumbles as yields ...
Posted by Ed Moya Apr 9, 2021
Follow us
  • RSS
  • Facebook
  • Twitter
  • Youtube

Logotype

MarketPulse provides up-to-the-minute analysis on forex, commodities and indices from around the world.

  • OANDA Group
  • FX Data Services
  • Currency conversion
  • News events
  • Markets
  • Economic calendar
  • About MarketPulse
  • Terms of use
  • Site map
MarketPulse is an award-winning news site that delivers round-the-clock commentary on a wide range of asset classes, as well as in-depth insights into the major economic trends and events that impact the markets. The content produced on this site is for general information purposes only and should not be construed to be advice, invitation, inducement, offer, recommendation or solicitation for investment or disinvestment in any financial instrument. Opinions expressed herein are those of the authors and not necessarily those of OANDA or any of its affiliates, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, please access the RSS feed or contact us at info@marketpulse.com © 2020 OANDA Business Information & Services Inc.