JPY Daily News

Japan Not Exempt from Global Economic Woes

The JPY finished yesterday's trading session with mixed results versus the other major currencies. The JPY slid down to 107.80 against the USD, while against the EUR it gained more than 100 pips after the announcement of a revision for the Euro-Zone economic growth forecast.

Coming from Japan we have the leading indicators improving slightly from 91.0% to 91.6%. However, the results are below the expected 91.8% which led the Cabinet Office to express their worries about a possible recession for Japan. Also, the Core Machinery Orders fell slightly less than expected in July to -3.9%. Economists say that these new results prove that machinery orders are now weakening in line with slowing production, which stems from emerging economic problems across the globe, combined with falling profits.

As for today, we have only two economic data releases coming from Japan. The most vital is the Japanese Final Quarterly GDP mark, which measures the change in the value of all goods and services produced by the economy. Analysts forecast it to decrease to -0.9%. The other figure to be announced today is the Final GDP Price Index which should have less influence over the JPY. Traders should follow today's news with extra caution as well as keep an eye on the economic events from around the world. As with the other major currencies, traders should expect high volatility in the market across the boards throughout the day.

Current Time: 05/27 01:39 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
09/11
	00:50	JPY	Final GDP	q/q	-0.6%	-0.9%	-0.9%
	00:50	JPY	Final GDP Price Index	y/y	-1.6%	-1.6%	-1.5%