JPY Daily News

Manufacturing PMI on Tap

Besides the bearishness against the USD, the JPY saw bullish trends against all of its other major currency counterparts. The USD was unstoppable because of its economic data and like the Dollar's other crosses, the JPY lost grounds against it, but the JPY showed its strength against its other crosses. The export based Japanese economy took advantage of the drop in Crude Oil prices, which should help lower the transportation prices of the Japanese goods across the world. The only data release that was announced yesterday was the Prelim Industrial Production, which saw a bigger than expected decline in June as makers of cars and semiconductor chip processing equipment cut production to deal with rising inventories and slowing demand.

There will only be one data release from Japan today as the Manufacturing PMI will be announced during late trading. There is no official forecast for this measure and a rising trend will have a positive effect on the nation's currency. Besides the JPY's crosses' trading trends, the Crude Oil will be the other major influence and the Yen will need the bearishness of the Black Gold to continue in order for the JPY to keep strengthening.

Current Time: 05/26 22:36 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
07/30
	00:15	JPY	Manufacturing PMI		46.5	*	47