JPY Forex Weekly Archive
Daily Economic News - May 28, 2008
The Japan's currency has for the most part lost strength yesterday versus the major currencies. The JPY underwent falling trends against the USD and the GBP, and saw a volatile session vs. the EUR. The only news coming yesterday from Japan was the speech given by the Bank of Japan governor Shriakawa. In his speech Sharikawa stated that low Interest Rate may create price stability for the short-term, yet in his mind it will fail to achieve its goal for the long-term. The most significant data for the Japanese economy today will be the Retail Sales. It is expected to rise by 0.5%, 0.5% lower than in the previous year. In addition, the Large Retailers' Sales is forecasted by analysts to descend by 1.3% from the preceding publication. As news is still somewhat limited from Japan it would be wise to follow other countries publications, especially from the U.S.Daily Economic News - May 27, 2008
Yesterday was a volatile day for JPY pairs. Just like all the other major currencies, it was mainly affected by the holidays in the U.S and the U.K, and the lack of significant news for the other major currencies, which led to a very low volume in the market. As a result, the JPY kept a steady rate against the USD, the EUR and the GBP throughout the trading day. The only data that came for the JPY yesterday was the Corporate Services Price Index, which rose by 0.5%, reflecting 17 straight month's of positive gains. The index indicates that transportation costs in Japan rose by 3.0%, and that real estate service fees rose by 1.5%. Later on this week, a bundle of data is due from the Japanese economy. The yearly retail sales report will be published on Wednesday. The Core Consumer Price Index and the Industrial Production will see results on Thursday. Today, the JPY is absent from the economic calendar, and the USD should be the main catalyst for JPY developments. Therefore, traders should look over U.S data with extra caution today.Daily Economic News - May 26, 2008
The JPY saw mixed results during last week's trading session as a basket of global news data and stock movement were the main catalysts for the JPY's liquidity. A slight division was made between the movement of the USD/JPY and the rest of the Yen crosses. Reacting for the most part to the movement in the Dow Jones, the USD/JPY experienced a near 150 pip swing on Thursday, as the pair leveled our to just over 103 to close the week. Other JPY crosses, saw similar movement throughout the week, but produced far more liquidity then the USD/JPY pair. The JPY spent a good deal of last week absent from the economic calendar, but will be subject to much more local data this week. On tap this week from the Japanese economy is a slew of economic data, highlighted by Retail Sales, Core CPI, Unemployment Rate, and Industrial Production. The Asian powerhouse has an export-heavy economy that is greatly affected by the prices in Crude Oil. With the steady rise in Crude Oil prices, the low-yielding currency has become more and more susceptible to risk. Though inflationary scares are still evident, the Bank of Japan has kept to its hawkish stance on interest rates. It will be interesting to see how the BoJ's Governor Shirakawa will react to JPY movement as he is due to speak at the 2008 International Conference hosted by the Institute for Monetary and Economic Studies, in Tokyo on Wednesday. His speeches often contribute to market volatility as he hints quite frequently at future monetary policy. Today, the Japanese are alone on the event calendar as the US and UK celebrate holidays and the Euro-Zone has no news scheduled. The 23:50 GMT release of CSPI figures should do little to contribute to JPY volatility.Daily Economic News - May 22, 2008
Yesterday, the JPY saw mixed movement against its major currency rivals, highlighted by major gains against the weak USD. The Yen gained positive momentum from Japan's All-industries Index, which beat out forecasts, but was affected negatively by a lower than forecasted Trade Balance. Overall, the Yen has seen volatile trends and was mostly affected by the movement of its rivals. Yesterday's mixed news from Japan was made up of the All Industries Activity Index, which covers a broad range of economic activity including spending in the services sector. This indicator printed at 0.5%, beating the low expectation for -0.2%. On the other hand, the Trade Balance data surprised, printing at a lower then expected 0.61T. Other interesting news yesterday was released by the Japanese Ministry of Finance, which stated that although foreigners have sold a lot of Japanese bonds, they were the net buyers of Japanese stocks. Today, traders should expect another mixed trading session in Japan, as most of the Yen's movements will be based on its rivals' momentum. At 23:50 GMT, The Bank of Japan will release its Monetary Policy Meeting Minutes, which will help traders understand the Japanese market's current state. The wild card that might be the deciding factor in the JPY's trading direction might be the Crude Oil, as its rise in price causes future economic slowdown in Japan.