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JPY Daily News
JPY Soars against the Major Currencies
On Monday, Japan recorded a better than expected increase in Machinery Orders in June, the first increase in 4 months. However, other data showed that the Japanese economy was still in dire straits. Despite this, the Yen gained against its most traded currencies yesterday. For example, the GBP/JPY cross fell by 280 pips to the 159.74 level. This occurred as a decline in global equity markets led to a decline in riskier currencies, such as the GBP. Also, yesterday's gains mark a correction from the bullishness we have seen in the GBP/JPY and USD/JPY crosses in the past few weeks.
Today, there is yet another opportunity for the Yen to build on its recent gains as the global economy destabilizes yet again. This is despite the fact that growth is expected to return to the U.S. economy in the 3rd quarter. There are 3 vital news events coming out of Japan that are expected to drive JPY trading for much of the day. These include the Monetary Policy Statement, Overnight Call Rate and the BOJ Press Conference. The results of these publications may see the JPY go bullish yet again today against the greenback, British Pound and EUR.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 08/11 | ||||||||
| 03:53 | JPY |  Monetary Policy Statement | * | * | * |  | ||
| 03:53 | JPY | Overnight Call Rate | 0.10% | 0.10% | 0.10% | | ||
| 06:00 | JPY | Household Confidence | 37.6 | 39.2 | 39.4 |  | ||
| 08:19 | JPY | BoJ Press Conference | * | * | * |  | ||
| 00:50 | JPY | CGPI | y/y | -6.6% | -8.9% | -8.5% |  | |
