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JPY Daily News
Japan's Economy Afflicted by Negative Expectations
Last week was a wild week for the JPY as it experienced a hefty amount of volatility. The Asian currency experienced bearish trends versus all of the major currencies during most of last week's trading sessions, until late in the week when it began to make some reversals. The Japanese currency gained over 100 pips against the USD when it closed trading at 106.13 last Friday, after losing value steadily throughout the week. The weakened U.S. economy has been one of the major culprits in Japan's economic downturn, as well as the price jump in Crude Oil, which has generated an adverse impact on the JPY. An example of this was delivered when the Japanese exports to the U.S. fell by 19.1% in August, marking its lowest figures since January 2006, all of which pushed investors to lose confidence that the Japanese economy would be less affected by recent events.
This week should be a somewhat active week for the JPY as well seeing as a batch of indicators are expected to shed light on the Japanese economy as a whole. The JPY is off to a good start this week as yesterday's Retail Sales figure came out better than expected. If this week's indicators continue to produce positive results, the JPY could see a strengthening week. An important event will be Tuesday's Tankan Manufacturing Index and Non-Manufacturing Index. These indicators are a measure of general health in the Japanese economy. They are currently forecast to be a negative number, indicating an economic contraction and hence may signal the possibility that Japan will not release much positive data this week. Traders should also keep tabs on the USD and EUR trends as they continue to be very dominant factors in the movement of the market.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 09/29 | ||||||||
| 00:15 | JPY |  Manufacturing PMI | 46.9 | * | 44.3 |  | ||
| 00:30 | JPY | Household Spending | y/y | -0.5% | -1.3% | -4.0% | | |
| 00:30 | JPY | Unemployment Rate | 4.0% | 4.1% | 4.2% | | ||
| 00:50 | JPY | Prelim Industrial Production | m/m | 1.3% | -2.6% | -3.5% |  | |
