August 13 2013

In the trading room today: Is the JPY Ready to Resume Its Bearish Trend? With the news of a potential corporate tax cut in Japan and a weak machinery orders data putting the yen under pressure, we explore the potential for a resumption of the bearish tend of the Japanese currency against the USD and other majors, we analyze the latest trend developments in the USD/JPY currency pair, we keep an eye on the pullback in the EUR/USD pair, we take a look at the GBP/USD currency pair, we highlight the market’s reaction to the Japanese Machinery Orders, the UK CPI and the German ZEW Index, we discuss new forecasts from JP Morgan and Goldman Sachs, and prepare for the trading session ahead.