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Japan is printing a lot of domestic data this week! What will the reports tell us?
Check out the list of potential catalysts if you’re planning on trading the safe haven this week!
Lower-tier economic releases
- Domestic reports like these don’t usually move the yen for long, but they can cause intraday retracements or accelerate the impact of existing market themes
- Average cash earnings (Sept 7, 11:30 pm GMT) to improve from -1.7% to -1.0% in July
- Household spending (Sept 7, 11:30 pm GMT) expected to dip from 13% to -2.0% in July
- Final Q2 2020 GDP (Sept 7, 11:50 pm GMT) to be revised lower from -0.6% to -8.0% while the annual rate could drop from -2.2% to -28.0%
- Economy Watchers sentiment (Sept 8, 5:00 am GMT) seen improving from 41.1 to 40.0
- Preliminary machine tool orders (Sept 9, 6:00 am GMT) to print at -26.0% (from -31.1%)
- Core machinery orders (Sept 9, 11:50 pm GMT) to decline by 18.0% after 22.5% drop in June
- BSI manufacturing index (Sept 10, 11:50 pm GMT) expected to improve from -52.3 to -10.0 in Q3 2020
- Producer prices (Sept 10, 11:50 pm GMT) could see another 0.4% increase after a 0.6% uptick in July
Market risk sentiment
- As seen in last week’s price action, the yen can react to results of low-tier reports from the other major economies if they print a generally bullish/bearish picture for global growth
- Economic outlook and short-term policy plans from the European Central Bank (ECB) and the Bank of Canada (BOC) can affect JPY’s intraweek trends
- Overall U.S. dollar demand can affect USD/JPY’s prices and take the other yen crosses along with it
Technical snapshot
- Stochastic considers NZD/JPY “overbought” on the daily time frame
- CAD/JPY and AUD/JPY may soon reach overbought status
- EUR/JPY remains in neutral territory for now

- SMAs show JPY’s short and long-term bearish trends against CAD
- Look out for retracement or reversal opportunities on USD/JPY and CHF/JPY on the daily time frame

- The yen saw the most volatility against the comdolls and the pound in the last seven days

Missed last week’s price action? Read JPY’s price recap for Aug. 31 – Sept. 4!