JPY Daily News

BoJ Expecting a Growing Phase For the Japanese Economy Soon

Yesterday, the JPY underwent a session of volatile behavior against most of its major currency counterparts. The JPY rose against the USD as the pair descended beneath the 109.60 rate. However, it mainly saw bearish trends against the EUR and the GBP.

Yesterday, the Bank of Japan (BoJ) has decided to leave its interest rate at its current level of 0.5%, the lowest in the industrial world. The BoJ Governor explained this decision by saying that he believes the falling commodities prices, along with the stabilizing overseas economies has eased inflation concerns in Japan, and that very soon the Japanese economy should enter a growing phase. However, he did say that it is still unclear weather the current downtrend in commodities prices, such as Crude Oil, will remain intact, leaving an open window for any interest rates manipulation that might be needed in the future.

Looking ahead to today, at late-night the Japanese Trade Balance will be published, and is forecasted by analysts to deliver much better figures than the survey from last month, as it's expected to rise from 0.14T to 0.35T. However, the JPY will be mainly influenced by overseas developments, and traders should pay attention to the USD and EUR in order to determine the JPY's direction for today.

Current Time: 05/27 00:32 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
08/20
	00:50	JPY	Trade Balance		0.14T	0.35T	0.17T