empty
 
 
10.09.2019 01:58 PM
The USD/JPY pair retreated from recent highs, but the dollar is not going to give up

The USD/JPY pair added about 40 points at the beginning of the week, reaching the highest level since early August - 107.50. Nevertheless, given the deteriorating mood in the market, she has little chance of maintaining momentum. Published data showed that orders for industrial equipment in August fell by 37.1 percent year on year. In addition, the producer price index in China in August fell by 0.8% compared with the same period last year, which also puts pressure. Similarly, European stock indices have so far shown modest losses, while the yield on 10-year US Treasury bonds fell by more than 1%, which confirms the growing risk appetite.

This image is no longer relevant

Meanwhile, data from the United States showed that the NFIB business optimism index in August fell to 103.1 points from 104.7 points in July. However, the decline was expected and was largely ignored by market participants. At the moment, the US dollar index, which tracks the value of the dollar against a basket of six major currencies, has grown by 0.13% per day and holds at 98.43, which allows the pair to show modest daily growth.

This image is no longer relevant

Irina Maksimova,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback