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JPY Daily News
Japanese Trade Deficit Turns JPY Bearish
Investors largely abandoned the JPY in trading yesterday, following news that Japan has logged a trade deficit for the first time in over 30 years. Increased demand for Japanese exports played a large part in the yen selloff. Questions regarding how long the country will be able to maintain its large public debt caused the currency to tumble. While the USD/JPY climbed above the 78.00 level, the EUR/JPY approached 102.00 during European trading before staging a slight reversal.
Today, the yen is not forecasted to stage a meaningful recovery. While Japan's status as a creditor country is not in danger at the moment, significant policy changes will have to be implemented to address the current situation. In the meantime, a bearish yen appears to be on the horizon.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 01/26 | ||||||||
| 23:30 | JPY |  Tokyo Core CPI | y/y | -0.3% | -0.3% | -0.4% |  | |
| 23:30 | JPY | National Core CPI | y/y | -0.2% | -0.1% | -0.1% |  | |
| 23:50 | JPY | Monetary Policy Meeting Minutes | * | * | * | | ||
| 23:50 | JPY | Retail Sales | y/y | -2.2% | 2.3% | 2.5% | | |
