JPY Daily News

Yen's Volatility Continues

The Yen continued with its volatile activity from the past week. The JPY saw frequent ups and downs against the Dollar, closing the week around the 94.50 level. The Yan also underwent a volatile session against the EUR, and dropped against the GBP.

The significant news publications from the Japanese economy delivered mixed results as well. The Japanese Retails Sales dropped for the 10th consecutive month. This demonstrates the poor consuming condition in Japan, which shows that the Japanese still lack the confidence that the recession is a part of the past and not the future. The Preliminary Industrial Production reports, however, showed that the total inflation-adjusted value of output produced by manufacturers in June rose by 2.4%. This shows that although the Japanese are cutting on expenses, the Japanese economy still manages to create large export, and thus the industrial production figures continue to rise despite the recession.

Looking ahead to this week, two indicators seem to be more relevant then the others. Tomorrow night, the Japanese Monetary Base is scheduled. This indicator's result seems to have influence on the Japanese interest rates, and thus investors tend to react to this publication. Also this week, the Leading Indicators index will be published on Thursday. This index is designed to predict the direction of the economy and has the potential to impact the Yen's value.

Current Time: 05/27 05:47 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
08/03
	02:30	JPY	Average Cash Earnings	y/y	-2.5%	-3.6%	-7.1%
	00:50	JPY	Monetary Base	y/y	6.4%	6.8%	6.1%