Archive for February, 2009
Yen Declines as Japanese Economy Gets Worse
Posted on26. Feb, 2009 by admin.
Japan’s currency slid to a 3-month low against the USD after Japan’s trade deficit widened the most in more than two decades, denting its allure as a refuge from the financial crisis. It also weakened versus the EUR after the government said exports tumbled 46% in January, signaling the slump in the world’s second largest [...]
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Japanese Economy Faces Severe Depression
Posted on25. Feb, 2009 by admin.
The Japanese Yen saw a bearish trading session yesterday, losing ground against all of its currency crosses. The JPY fell against the USD after several days of recovery, while the EUR/JPY cross also rose to around 1.2443. The only economic events out of Japan yesterday was Trade balance; a little changed from forecasts as volatility [...]
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Yen Declines against Dollar and EUR
Posted on24. Feb, 2009 by admin.
The Yen recorded losses against all of its major currency crosses in yesterdays trading. This came about for several reasons. Primarily among them is that Japan’s economy continues to decline at an alarming rate as the global recession continues to take its toll. The Yen declined by 200 points against the USD to finish Monday’s [...]
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Yen May Continue to Depreciate in the Long-Term
Posted on23. Feb, 2009 by admin.
Last week the Yen continued to weaken against the major currencies. Its sharpest drop was against the EUR; however it saw bearish trends against the Dollar and the Pound as well.
Last week was filled with significant data economic data from Japan. The Japanese Preliminary Gross Domestic Product dropped by 3.3%. The contraction was the third [...]
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JPY Safe-Haven Status Comes under Threat
Posted on20. Feb, 2009 by admin.
The JPY’s safe-haven status came under threat again yesterday, as Japan’s economy has become increasingly volatile to the global recession. Japanese equities slid yesterday as exporters reported more bad news owing to the strong Yen. Japanese carmaker Nissan said that it may export 130,000 jobs to Mexico. Additionally, the Yen also reacted negatively to the [...]
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JPY Corrects as the Currency Falls out of Favor with Traders
Posted on19. Feb, 2009 by admin.
The Yen continued to depreciate as investors are choosing the Dollar over the Yen for a safe haven trade. The JPY fell against the USD and closed around 93.65. Moreover; the Japanese Yen lost almost 150 pips versus the EUR, closing at 117.70 and just around 200 pips versus the GBP.
The world’s second-largest economy shrank [...]
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Japanese GDP Data Increases Recession Fears
Posted on18. Feb, 2009 by admin.
Japan’s economy, only months ago, forecast to be the best performing among the world’s most advanced nations, has now become the worst. Gross Domestic Product (GDP) shrunk an annualized 12.7% last quarter, the Cabinet Office said yesterday. Japan’s government is struggling to cope with the economic crisis, and may expand its stimulus plans by 20 [...]
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Japanese GDP Tumbles, Finance Minister Resigns
Posted on17. Feb, 2009 by admin.
The Japanese economy has now experienced declining GDP for the third consecutive quarter. GDP for the fourth quarter last year fell 3.3%. Exports also fell a staggering 14%. This helped to send the USD/JPY higher by almost 1% to 92.43.
In an unrelated event, Japanese Finance Minister Shoichi Nakagawa said he will resign from his post. [...]
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JPY Largely Unaffected by Largest GDP Drop Seen Since 1974
Posted on16. Feb, 2009 by admin.
The Yen saw some relatively moderate appreciation against its currency rivals as this weekend’s G7 Summit reaffirmed very little which wasn’t already known by world financial chiefs. Failing to comment on the recent strength of the JPY led some to believe that it was a normal turn of events, even expected by the Bank of [...]
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Foreign Influence over the Yen Gaining Strength
Posted on12. Feb, 2009 by admin.
The Yen completed yesterday’s trading session with mixed results versus the other major currencies. The JPY was broadly unchanged versus the EUR yesterday and closed its trading session at around the 116.00 level. The JPY also saw bullishness against the GBP as it jumped around 100 points and closed at 129.20.
Japan’s wholesale inflation dropped for [...]
