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JPY Daily News
JPY Gaining Steam as it Awaits Full Day of Local Data
Yesterday, the JPY saw bearish results against most of its major currency rivals. The JPY was predominantly influenced by the other major currencies' behavior, as it was completely absent from the economic calendar. Against the USD the JPY underwent a volatile sessions after a rally of the USD altered the release of the U.S. durable goods orders. Versus the EUR the JPY experimented bearish trends following hawkish comments from ECB member Weber pushing the pair close to the 162.00 range.
A batch of economic releases and announcements are expected for the JPY today. The day will start with Manufacturing PMI, and will be followed by the Tokyo Core CPI and the National Core CPI.
According to the Ministry of Internal Affairs, the Japanese Core Consumer Price index should rise by 1.7%. Such a result may mark the 4th straight month of gains. The data reflects rising prices for imported Oil and other commodities, putting upward pressure on living expenses in Japan. Fluctuating Gold and Oil prices are the main reason behind the inflationary fears. The BoJ which has attempted to maintain a policy of steady rate increases, have found itself facing pressures to cut rates in the near term. The clear issue for the central bank in cutting rates is the fear of rising inflation.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 08/28 | ||||||||
| 00:15 | JPY |  Manufacturing PMI | 47.0 | * | 46.9 |  | ||
| 00:30 | JPY | Tokyo Core CPI | y/y | 1.6% | 1.7% | 1.5% |  | |
| 00:30 | JPY | National Core CPI | y/y | 1.9% | 2.3% | 2.4% | | |
| 00:30 | JPY | Overall Household Spending | y/y | -1.8% | -1.8% | -0.5% | | |
| 00:30 | JPY | Unemployment Rate | 4.1% | 4.1% | 4.0% | | ||
