JPY Daily News

JPY Fares Poorly, Mimicking the USD's Bearishness

The JPY seemed to shadow the USD's momentum last week as it saw mostly bearishness against its currency counterparts. Besides the USD, which didn't move much versus the JPY, the Yen lost grounds to the other major currencies. Traders saw the EUR/JPY cross fall under 155.00, and the GBP/JPY traded under the 196.00 mark. The JPY was negatively affected by the increase in the price of Crude Oil as traders expected expensive gasoline prices to harm the profitability of exports from Japan. Very little economic data was released throughout the week, with the spotlight going to the drop in Household Confidence in Japan. As expected, the Japanese Interest Rate stayed unchanged at the world's lowest value of 0.50%.

More self-made volatility should be expected for the Yen this week. There is a batch of economic data that will be released in the next few days. The BSI Manufacturing Index, Trade Balance and yearly CSPI are all expected to come out lower than their previous figures. The only non-bearish release is expected to be the Tokyo Core CPI, which is forecasted to stay unchanged compared to its previous rate. Outside of the economic data that will be released from Japan, the JPY's trading trends will also be greatly affected by U.S. Fed Chairman Bernanke's speeches, news that will come from the U.S. regarding the financial crisis, as well as the changes in Crude Oil prices.

Current Time: 05/27 02:53 GMT

Add events to google calendar Mark all Unmark all Print

#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
09/22
		JPY	Holiday: Autumnal Equinox Day		*	*	*