JPY Daily News

Yen Continues its Slide against the EUR

The Yen completed yesterday's trading session with mixed results versus its major currency pairs. The JPY was broadly unchanged versus the USD on Wednesday and finished the trading session at the 97.77 level. The JPY also saw bearishness against the EUR as the pair jumped by a notable 85 points to close at 132.67. Over the past month the pair has risen over 2,200 points as investors lost confidence in the Japanese currency. The JPY did make some impressive gains yesterday, however, against the GBP to close up nearly 90 points at 142.63. On a larger note, this only marks a slight reversal in the 2 currencies, as the JPY fell dramatically against the GBP in this week's trading.

Japan's export collapse may push sentiment among the nation's largest manufacturers to the lowest level in more than 30 years in March, triggering more investment cuts and job losses. Export declines have set new records each month since November, as U.S. and European consumers have retrenched. The collapse in U.S. sales forced Toyota to cut thousands of jobs and slash domestic production by half this quarter. The automaker may not raise output until after the 3rd quarter of this year. Today, forex traders are advised to follow data releases coming out of Japan, the U.S., the Euro-Zone and Britain as these results are likely to set the short-term strength of the JPY.

Current Time: 05/27 00:24 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
03/26
	23:30	JPY	Tokyo Core CPI	y/y	0.6%	0.4%	0.4%
	23:30	JPY	National Core CPI	y/y	0.0%	0.0%	0.0%
	23:50	JPY	Retail Sales	y/y	-2.4%	-3.6%	-5.8%