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JPY Daily News
Japan Following European Markets With Great Concern.
Yesterday, the JPY mostly underwent rising trends vs. its major currency rivals. The JPY appreciated against the EUR and the GBP, and saw a volatile session against the USD.
Yesterday, the most significant data that was published from the Japanese economy was Japan's fourth-largest automaker company's (Mazda) July global output. The report showed that Mazda's output increased by 25.5% from the same time the previous year to 126,025 vehicles. Nevertheless, the JPY's movements were only partially influenced by this report, and were more affected by global developments such as the Euro-Zone's poor data. The Japanese economy chiefs are following with great concerns the processes inside the Euro-Zone. A pullback in Europe may generate chain reactions that will also threaten the Japanese economy.
As for today, the JPY will be absent from the economic calendar, and traders should follow overseas data, especially from the U.S in order to place their positions on the JPY.
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