This morning, the S&P 500 Index e-mini futures (ES-M3) are trading higher by 4.00 points to 1651.00 per contract. Traders and investors seem to be focused on one thing, the price action in the Japanese Yen. Simply put, when the Japanese Yen strengthens against the U.S. Dollar the major stock indexes around the world seem to come under pressure. The opposite is true when the U.S. Dollar strengthens against the Japanese Yen, the stock market will inflate and trade higher. Keep the USD/JPY chart up at all times as it seems to be the most important chart that a trader can follow at this time.
Last night, the Nikkei 225 Index (Japan) declined by more than 5.0 percent. This tells us that traders should watch for weakness in the leading Japanese ADR's and related equities. Leading Japanese stocks such as Toyota Motor Corporation (TM), Canon Inc. (CAJ), Honda Motor Co., Ltd. (HMC), and Sony Corporation (SNE) could all be volatile today.
Below you may find the video.
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USD/JPY: The One Currency Pair That Moves Markets
Published 05/30/2013, 02:06 PM
Updated 07/09/2023, 06:31 AM
USD/JPY: The One Currency Pair That Moves Markets
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Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
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