With US markets closed for President’s day today, it’s likely to prove a slower start to the week, but as we know, it’s not just about the US anymore, with much of the recent volatility being triggered by events beyond US shores. Overnight, we’ve seen weaker than expected data in Japan showing the economy contracted some 0.4% in the final quarter of last year. Japan has contracted in half of the previous 16 quarters, with only one period of contraction more than two quarters. In other words, it remains an economy struggling for sustained momentum. Data from China has also been mixed with exports falling markedly, although an even larger fall in imports allowed for a better than expected reading on the trade balance data. The volatility in markets continues unabated, with the Nikkei more than reversing Friday’s weakness, up more than 7% towards the close. USDJPY has reversed upwards as well, but in a relative sense the yen still remains on the firm side for the month so far. Elsewhere in the world of FX, the modestly corrective tone continues, with the Aussie higher from the Thursday lows and the euro also correcting from the firmer tone seen of late. Equities also starting on a firmer footing, with financials leading the gains once again. Gold is more than 2% weaker in Asia trade, but after the sharp gains seen last week, that’s merely a rounding area in light of recent moves. The yuan has appreciated substantially, with comments from PBOC Governor also helping over the weekend to curb speculators on the currency. Note that ECB President Draghi speaks in front of the European Parliament later today (scheduled for 14:00 GMT) and in light of the lack of US data, this could drive sentiment in the latter half of the European session. Further reading: EUR/USD tests the upside – false break so far Traders, Beware Of A Near-Term Reversal In The US Dollar – CIBC FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Daily Look share Read Next Happy markets, despite data Yohay Elam 7 years With US markets closed for President's day today, it's likely to prove a slower start to the week, but as we know, it's not just about the US anymore, with much of the recent volatility being triggered by events beyond US shores. Overnight, we've seen weaker than expected data in Japan showing the economy contracted some 0.4% in the final quarter of last year. Japan has contracted in half of the previous 16 quarters, with only one period of contraction more than two quarters. In other words, it remains an economy struggling for sustained momentum. Data from China has also… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.