JPY Daily News

Japanese Recession May be Worse than Forecasted

Yesterday, traders did not see much volatility in JPY currency pairs. With no economic news from the US as a result of the Thanksgiving holiday, and very few economic indicators from Europe, the JPY remained flat against both the USD and EUR, sticking near the 95.00 and 123.00 levels respectively.

The recent economic data from Japan shows that the second largest economy is now heading into a deep recession. Recent reports show that industrial production is deteriorating faster than economist had expected, and consumers have been holding back their spending, surprising analysts. Many forecasters are now convinced that Japan's economy is in for a deeper and longer recession than was previously thought.

Current Time: 05/27 01:53 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
11/28
	05:00	JPY	Housing Starts	y/y	54.2%	29.3%	19.8%