JPY Daily News

JPY Looks to Continue Last Week's Bullishness.

The Yen experienced a bullish trend versus the major currencies during last week's trading session. The Japanese currency gained over 120 pips against the USD when it closed trading at 108.81 level last Friday. The JPY saw a huge contribution last week from local economic indicators including the CSPI, Tokyo Core CPI, Preliminary Industrial Production, and Retail Sales, all of which affected the Yen positively.

This week should be a relatively calm week for the Yen as only 5 indicators are expected to shed light on the Japanese economy. The Average Cash Earnings, Monetary Base indicator, and Capital Spending are expected to produce mixed results. BOJ Governor Shirakawa is expected to speak twice throughout the week and could cause volatility as he will likely discuss the direction of the Japanese economy following Japan's new 18 billion dollar economic stimulus package.

Today, a number of indicators are expected to be released from Japan. The Average Cash Earnings is projected to rise 0.3%. Yearly Monetary Base figures are also expected, but should have little effect on the movement of the JPY. Expect a relatively quiet day for the JPY as the US stock market is also closed today in observance of Labor Day.

Current Time: 05/27 03:09 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
09/01
	02:30	JPY	Average Cash Earnings		0.4%	0.3%	0.3%
	00:50	JPY	Monetary Base	y/y	-0.7%	-	-0.2%