Yen Posts on Forex Blog
Forex Calendar Aug 10 - Aug 15
Aug 9, 2008
The theme for this week in forex trading will be international GDP, CPI and trade balance reports. In all, continuing global economic deterioration could mean positive gains for the US Dollar.
Tuesday morning has several UK reports which may be Pound negative.
Tuesday night has 3 key reports from Japan - Trade Balance, GDP, and GDP annualized.
Thursday morning is laden with Euro-zone reports, including GDP and CPI for Germany (2am) France (2:45am) and the entire region (5am).
Sunday August 10
9:30pm Reserve Bank of Australia Monetary Statement
Monday August 11
4am Italy Consumer Price Index MoM (expect 0.5%, previous 0.5%)
4:30am UK July Producer Price Index Output Core MoM (expect 0.4%, previous 0.3%)
4:30am UK July Producer Price Index Output Core YoY (expect 6.5%, previous 6.4%)
4:30am UK Trade Balance (expect -£4.20. billion , previous -£4.25 billion )
8:30am Canada June Housing Starts (expect 0.1%, previous 0%)
7pm UK RICS July House Price Survey (expect -90%, previous -88%)
7:50pm Japan July Corporate Price Index MoM (expect 0.8%, previous 0.8%)
7:50pm Japan July Corporate Price Index MoM (expect 5.7%, previous 5.6%)
9:30pm National Australia Bank Business Survey
Tuesday August 12
2:45am France June Current Account
2:45am France July Consumer Price Index MoM (expect -0.2%, previous +0.4%)
2:45am France July Consumer Price Index YoY (expect 3.7%, previous 3.6%)
4:30am UK July Consumer Price Index MoM (expect -0.2%, previous +0.7%)
4:30am UK July Consumer Price Index YoY (expect 4.2%, previous 3.8%)
4:30am UK July Core Consumer Price Index YoY (expect 1.7%, previous 1.6%)
8:30am US June Trade Balance (expect -$61.9 billion, previous -$59.8 billion)
6:45pm New Zealand Q2 Producer Prices
7:50pm Japan June Trade Balance (expect ¥293.6 billion, previous ¥529.4 billion)
7:50pm Japan Q2 GDP (expect -0.6%, previous 1.0%)
7:50pm Japan Q2 GDP Annualized (expect -2.3%, previous 4.0%)
Wednesday August 13
5:30am Bank of England Quarterly Inflation
8:30am US July Retail Sales (expect 0.4%, previous 0.1%)
8:30am US July Retail Sales excluding Autos (expect 0.7%, previous 0.8%)
10:35am US Crude Inventories
9pm Australia Consumer Inflation Expectation
Thursday August 14
2am Germany Q2 GDP (expect -0.8%, previous 1.5%)
2am Germany July Consumer Price Index MoM (0.6%, previous 0.6%)
2am Germany July Consumer Price Index YoY (3.3%, previous 3.3%)
2:45am France Q2 GDP (expect 0.1%, previous 0.5%)
2:45am France Q2 Non Farm Payrolls (expect 0.2%, previous 0.4%)
5am Euro-zone GDP (expect -0.2%, previous 0.7%)
5am Euro-zone July Consumer Price Index MoM (expect -0.1%, previous 0.4%)
5am Euro-zone July Consumer Price Index YoY (expect 4.1%, previous 4.0%)
8:30am US July Consumer Price Index MoM (expect 0.4%, previous 1.1%)
8:30am US July Consumer Price Index YoY (expect 5.2%, previous 5.0%)
8:30am US July Core Consumer Price Index MoM (expect 0.2%, previous 0.3%)
8:30am US July Core Consumer Price Index YoY (expect 2.4%, previous 2.4%)
6:45pm New Zealand June Retail Sales MoM
Friday August 15
9am US Treasury International Capital (TIC)
10am US August Preliminary University of Michigan Consumer Confidence (expect 62.0, previous 61.2)
10:30am US Chicago Fed President Charles Evans to Speak on Economic Outlook
Euro, GDP, CPI, Yen, upcoming reports, Pound
Asian Forex News: New Zealand Disappoints, Japanese Inflation Hits Decade High
Jun 26, 2008
All signs point to a rate cut for the Kiwi.
New Zealand's trade deficit grew by $196 million in May. This was far worse than the expected rise of $150 million. Thats nearly a $250 million swing!
Merchandise exports were up 11.2% year over year. However, merchandise imports were up 17.3%.
This comes on the heels of yesterday's current account deficit, which was an alarming $13.8 billion, 7.8% of GDP.
Considering the strength of the Tui oilfield and dairy prices, this is indeed worrying news for the Kiwis.
To top that off, New Zealand Q1 GDP was finalized at 1.9%, slightly worse than the expected 2.1%.
And the gloomy news kept on coming out of Asia.
Japan reported a jump in inflation from 0.9% in April to 1.5% in May. This is the largest month over month increase in a decade. However, traders need to keep some perspective. Japan reintroduced a fuel tax in May, which may account for some of the rise.
Separately, Food prices rose 2.4%, Like many other countries, japan excludes food when calculating CPI.
Japan's household spending also fell -3.2% in May, larger than the expected reading of -2.2%.
On the plus side, japanese unemployment remained flat at 4%, as expected.
Relevant Forex prices At 11:30pm est
USDJPY 106.970 (-0.990, -0.92%)
AUDJPY 102.35 (-1.20, -1.16%)
EURJPY 168.28 (-0.97, -0.57%)
NZDUSD 0.7565 (-0.0008, -0.11%)
NZDAUD 1.2636 (-0.0020, -0.16%)
EURNZD 2.0786 (+0.0091, +0.44%)
inflation, GDP, CPI, JPY, NZD, Yen, Kiwi
Japan Economy Grows More Than Expected, Yen Edges Up Against Dollar
May 15, 2008
Japan's economic revival continued, with news the economy had grown 0.8% in Q1 2008 (3.3% annualized). This was the 3rd staright quarter of expansion, diven by exports and private residential investments. This was 0.01% over the expected 0.7% for the first quarter. The Nikkei was up 0.6%
Forex traders reacted tepidly, sending the Yen up 0.07% (104.89 ¥) in late trading. Considering the weak US manufacturing data (see below), and the recent dollar peak of 105.70 hit earlier this month - this is far from a resounding vote of confidence for the yen.
Read more at Fox News
GDP, JPY, Yen
Greenback Up Against Swiss Franc, Yen, GBP
May 6, 2008
US Treasuries continued to gain ground against other currencies. Against the Yen, the Dollar was trading at 104.81 (+0.12). The dollar aslgo gained ground on the pound sterling (+0.15) and the Swiss franc (0.009).
Read more at CNBC
Greenback, JPY, Franc, Yen, GBP, Pound, USD
