JPY Daily News

Japanese Retail Sales in Focus

The Japanese yen has undergone swings between bullish and bearish since late last week as traders attempt to get a feel for global risk appetite. By focusing on the Japanese economy itself today, many investors appear tuned in to go long on the JPY out of an expectant growth on the consumer side of the equation with the country's retail sales report.

The Japanese economy has witnessed a sharp downturn in retail sales, year-on-year, since back in April, when it dropped over 8%. Each month since, the nation has halved this decline, with only a 4% decline in May and expectations for a 2% drop in June.

If the early morning data can meet or exceed this forecast, traders may see a silver lining in Japan's currently bleak economic landscape. Given the sluggishness of the global manufacturing sector, however, many economists have expressed pessimism that Japan will meet the negative 2% target. Such a result could lead to heightened risk aversion and also feed into the yen, albeit for different reasons.

Current Time: 05/27 01:54 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
06/28
	00:50	JPY	Prelim Industrial Production	m/m	1.6%	5.6%	5.7%