Friday, 18 August 2017

What’s next? – USDJPY 18.08.17

Posted by Valentine at 03:23 Labels:

USDJPY

The dollar/yen was down 0.46 percent as of 08:50 GMT on Friday to trade at 109.05, as the Japanese currency strengthened on the back of Trump’s tensions with the business sector.

In the Asian session this morning, China said house prices rose 9.7 percent in July against a previous month advance of 10.2 percent.

Rumors that National Economic Council Chairman Gary Cohn was resigning due to Trump’s recent remarks on violent incidents in Charlottesville, Virginia, weighed on market sentiment on Thursday. A White House official said Mr. Cohn had no intention to leave his job.

“Cohn is focused on his responsibilities as NEC Director and any reports to the contrary are 100% false,” the WH official related to the matter said.

On the data front, initial jobless claims fell by 12,000 to a seasonally adjusted 232,000 in the week ended August 12, the Labor Department reported.

Also, the Federal Reserve Bank of Philadelphia said that manufacturing index moved to a seasonally adjusted 18.9 this month, against expectations for a 18.5 reading.

The US dollar index, which gauges the greenback against a basket of six major currencies, was down 0.13 percent at 93.43 by the time of this writing.

The yen is seen as a safe-haven currency and therefore, the terrorist attack in Barcelona pushed it upwards against its American rival.

Ahead in the day, investors will count on preliminary readings on Michigan consumer expectations and consumer sentiment as of 14:00 GMT, with 81.0 and 94.0 seen.

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