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JPY Daily News
Yen May Be Able to Extend Gains This Week
Despite the significant losses the Japanese yen took during mid-week trading, the currency was able to stage a recovery on Thursday and Friday following negative US news which sent trader to the safe-haven currency. The USD/JPY tumbled over 150 pips over the course of two days to close out the week at the 76.66 level. Against the euro the yen had more mixed results, but was still able to close Friday's session at 101.39. The EUR/JPY was down some 75 pips from its weekly high when markets closed for the weekend.
Turning to this week, yen values will likely be determined by euro-zone and US news. Today, the yen could take some losses should the details of a Greek debt deal be announced. At the same time, traders will want to pay attention to any negative news out of Portugal which could limit the euro's upward momentum. Later in the week, significant US news is scheduled to be released. Any indicator which causes investors to doubt the US economic recovery is likely to boost the yen.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 01/30 | ||||||||
| 23:15 | JPY |  Manufacturing PMI | 50.2 | - | - |  | ||
| 23:30 | JPY | Household Spending | y/y | -3.2% | -0.1% | - |  | |
| 23:30 | JPY | Unemployment Rate | 4.5% | 4.5% | - | | ||
| 23:50 | JPY | Prelim Industrial Production | m/m | -2.7% | 2.6% | - | | |
