JPY Daily News

Yen Experiences another Day of Appreciation

The JPY underwent a bullish trading session yesterday, as it appreciated against all of its major currency rivals. The JPY rose 0.7% and closed under 109.33 versus the USD, a day after hitting a seven-month peak of 110.40. In addition, the EUR fell 0.5% against the JPY and the pair closed at 163.16.

The export based Japanese economy took advantage of the drop in Crude Oil prices, which should help lower the transportation prices of Japanese exported goods across the world.

Yesterday, the most important financial indicator that was published from the Japanese economy was the Preliminary Gross Domestic Product which fell by 0.6% as opposed to the previous quarter. The gloomier outlook on the Japanese economy may force the Bank of Japan to seriously consider shaking up its longstanding benchmark interest rate.


There will only be one data release from Japan today as the Tertiary Industry Activity Index will be announced during late trading. A rising trend will have a positive effect on the nation's currency because about half of the nation's workers are employed in the service industry. Strong spending in the services sector not only signals higher employment rates, but can also be a sign of strong consumer spending in the future. Crude Oil will be a major influence in JPY movement as Japanese will look toward depreciation in Black Gold to continue in order for the JPY to keep strengthening.

Current Time: 05/27 03:57 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
08/13
	00:50	JPY	Tertiary Industry Activity Index	m/m	-0.2%	-0.3%	-0.8%