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JPY Daily News
Expect Volatile JPY Trading As Market Gears Up For More Risk Appetite.
Similar to the previous week, the JPY saw a fairly bullish trading session again last week as it gained value against most of its currency crosses besides the USD. The JPY once again took advantage of the USD's bullishness and a drop in the Crude Oil prices that helped the export focused Yen gain grounds against most of its currency rivals. In terms of the economic data that was released out of Japan last week, the highlights was the better than forecasted Core Machinery Orders monthly rate, which revived belief in the JPY's future economic growth. In terms of the values of the JPY crosses, the most notable pair was the EUR/JPY that dropped to under 165.00 at the end of last week's trading session.
This week should start with volatility for the JPY as quite a few economic releases are expected. The two most impactful figures will be the quarterly Prelim GDP and Tertiary Industry Activity Index, both expected to be lower than their previous results. Most of the economic releases are expected to be bearish for the JPY and the end of the week should be quiet in terms of self made volatility as no data will be announced on Thursday and Friday. The trading for the Yen might have a mixed trend as its own data might drive it down, but momentum in the USD and Crude Oil trading will also affect the JPY greatly.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 08/11 | ||||||||
| 07:00 | JPY |  Machine Tool Orders | y/y | -2.5% | - | -8.9% |  | |
| 00:50 | JPY | CGPI | y/y | 5.7% | 5.8% | 7.1% | | |
