JPY Daily News

JPY Provides Mixed Results against the Majors

The Yen saw mixed results during last week's trading. While rising sharply against the USD, the JPY dropped against the EUR and underwent a volatile session against the GBP.

It seems that the negative results coming from the Japanese economy are the main reason for the Yen's volatile behavior. Last week it was released that the Japanese Preliminary Gross Domestic Product (GDP) had dropped by 4.0% in March, making it 4 consecutive months on which the value of all goods and services produced by the Japanese economy dropped. The Tertiary Industry Activity, which measures the change in the total value of services purchased by businessman, has also decreased by 4.0% in March. In addition, the Bank of Japan (BoJ) has decided to leave Interest Rates at 0.10% as it cannot drop it farther and is unwilling to raise it at the moment. On normal conditions, all this should have led to a significant drop for the JPY against every major currency; however, the bearishness of the Dollar was the leading force in the forex market last week, and thus even the weak Yen rose against the USD.

As for the week ahead, a batch of data is expected from the Japanese economy. The Trade Balance scheduled for Tuesday will be one of the most impacting publications as the Japanese economy relies greatly on its exports, and this report is one of the best ways to estimate this nation's economic condition. Traders should also consider the Retails Sales and the Household Spending indicators which could possibly dictate the Yen's movements later this week.

Current Time: 05/26 21:56 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
05/25
	03:00	JPY	BoJ Governor Shirakawa Speaks		*	*	*
	06:00	JPY	BoJ Monthly Report		*	*	*
	06:00	JPY	BoJ Governor Shirakawa Speaks		*	*	*
	00:50	JPY	CSPI	y/y	-2.1%	-2.3%	-2.4%