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Japan’s economic calendar was busier than usual, but it was global geopolitical fears that drove Japanese yen pairs to beat the non-safe haven assets this week.
Japanese Headlines and Economic data
Monday:
- Weak spending overshadows Japan’s surprise first quarter economic expansion
- Japan revised industrial production -0.6% to 102.2 from the previous month
Tuesday:
Wednesday:
- Japan’s Exports Fall for Fifth Month Amid Trade Tensions
- Japan March core machinery orders rise 3.8% month-on-month
- BOJ’s Harada says must ease more without delay if economy worsens
- Pro-stimulus BOJ policymaker warns of recession risk if sales tax hike proceeds
- Yen pairs broadly rise on the session, likely due to renewed risk aversion sentiment as geopolitical issues like lingering U.S.-China trade tensions, U.S.-Iran tensions, and the U.K.’s political drama with Brexit and Theresa May’s impending resignation prompted traders to lighten up on risk assets this week.
Thursday:
- BOJ to heed market impact when adjusting interest rates: deputy governor
- Japan May flash PMI snaps back into contraction as Sino-U.S. trade war escalates
Friday:
