will continue to trade on risk appetite. The 95 level has been a very significant area of support and should risk aversion exacerbate we could see that level tested again. In light of the numerous reports from Japan this past week, we have learned that the corporate sector of the economy is improving but unfortunately that improvement has not trickled down to consumers. This is a major problem that Japan has had for years and one that they are clearly continuing to struggle with. Small and large business has seen improving activity thanks to demand from China but earnings continue to fall while unemployment continues to rise. Next week, Japan is set to release their leading indicators report, Eco Watchers survey and trade balance. Even though the Yen strengthened against the dollar in May, its weakness against the euro and large orders from China should help boost their trade surplus.
Tuesday, July 7, 2009
95 LEVEL CRITICAL FOR COMING WEEK
In the coming week, USD/JPY will continue to trade on risk appetite. The 95 level has been a very significant area of support and should risk aversion exacerbate we could see that level tested again. In light of the numerous reports from Japan this past week, we have learned that the corporate sector of the economy is improving but unfortunately that improvement has not trickled down to consumers. This is a major problem that Japan has had for years and one that they are clearly continuing to struggle with. Small and large business has seen improving activity thanks to demand from China but earnings continue to fall while unemployment continues to rise. Next week, Japan is set to release their leading indicators report, Eco Watchers survey and trade balance. Even though the Yen strengthened against the dollar in May, its weakness against the euro and large orders from China should help boost their trade surplus.
will continue to trade on risk appetite. The 95 level has been a very significant area of support and should risk aversion exacerbate we could see that level tested again. In light of the numerous reports from Japan this past week, we have learned that the corporate sector of the economy is improving but unfortunately that improvement has not trickled down to consumers. This is a major problem that Japan has had for years and one that they are clearly continuing to struggle with. Small and large business has seen improving activity thanks to demand from China but earnings continue to fall while unemployment continues to rise. Next week, Japan is set to release their leading indicators report, Eco Watchers survey and trade balance. Even though the Yen strengthened against the dollar in May, its weakness against the euro and large orders from China should help boost their trade surplus.
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