JPY Daily News

Yen Experiences Mixed Results against the Majors

The Yen completed yesterday's trading session with mixed results versus its major currency pairs as investors chose the Dollar over the Yen for a safe-haven trade. The JPY fell against the USD and closed around 95.25. However, the Japanese Yen rose almost 40 pips versus the EUR, closing at 133.00.

The major economic event that came out of Japan yesterday was the Retail Sales figures. Retail Sales fell for an eighth month in April as worsening job prospects and declining wages deterred shoppers. The deep recession is spreading to households, whose outlays account for more than half of the economy. Japan will struggle to return to a sustainable growth path as long as companies from Toyota Company keep cutting jobs to minimize losses.

Current Time: 05/27 04:03 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
05/28
	00:15	JPY	Manufacturing PMI		41.4	-	-
	00:30	JPY	Household Spending	y/y	-0.4%	-0.7%	-
	00:30	JPY	Tokyo Core CPI	y/y	0.0%	-0.6%	-
	00:30	JPY	National Core CPI	y/y	-0.1%	-0.1%	-
	00:30	JPY	Unemployment Rate		4.8%	5.0%	-