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JPY Daily News
Yen Sees Mix Results against the Majors
The Yen saw a very volatile session during last week's trading, rising against the Dollar and the Pound but dropping against the Euro.
The Yen's bearish trend from the past month was halted last week, much due to the positive data from the Japanese economy. The Monetary Base, which measures the change in the total quantity of domestic currency in circulation and current account deposits held at the Bank of Japan (BoJ), rose by 5.2%. Usually, when this indicator rises, it turns the BoJ to hike rates, in order to preserve the value of the Yen. Speculations regarding this issue have strengthened the Yen. In addition, the Leading Indicators, which is an index designed to predict the direction of the economy rose by 91.2%, also stating that the Japanese economy is showing signs for recovery. If the Japanese economy will continue to provide positive data, it is likely to support the Yen.
As for this week, many interesting news publications are expected from the Japanese economy. The most impacting data looks to be the Core Machinery Order on Wednesday. This is a leading indicator of production, and if the end result will be positive, it is likely to support the yen.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 01/11 | ||||||||
| 23:50 | JPY |  Bank Lending | y/y | 0.2% | - | -1.0% |  | |
| 23:50 | JPY | Current Account | 1.38T | 1.22T | 1.30T | | ||
| 23:50 | JPY | M2 Money Stock | y/y | 3.3% | 3.3% | 3.1% | | |
