With no major events from Japan, the Japanese yen was mixed and choppy this week, driven mainly by broad risk sentiment and counter currency flows.
Japanese Headlines and Economic data
Monday:
Japan’s July industrial output jumped record 8% led by autos
Japan July retail sales fall 2.8% year-on-year, government data shows
Abe right-hand man Yoshihide Suga emerges as a top pick to replace him
Japan’s consumer confidence index slips in August
Housing starts in Japan declined by 11.4 percent year-on-year in July 2020
Tuesday:
Japan’s jobless rate rises to 2.9% in July
Japan April-June capital spending marks largest fall in decade
au Jibun Bank Japan Manufacturing PMI: 47.2 in August vs. 45.2 in July
Wednesday:
UK/Japan trade deal good for consumers, companies, Johnson tells Abe
Japan monetary base grows +11.5% m/m in August
Taking a leaf from Fed, BOJ may need to focus more on jobs, deputy governor says
BOJ must keep strong commitment to price goal – depgov Wakatabe
Japan’s Suga signals readiness to prod BOJ to ease more
Thursday:
BOJ’s Kataoka urges bolder easing to battle deflation risk
Broad pop higher in the Japanese yen against the major, likely on broad risk sentiment as it leaned heavily negative. It was likely a combination of net weak European PMI updates and the weak U.S. equity markets that had traders buying back yen on the session.
