Yen Declines from Recent Gains on Japan Trade Deficit
January 27, 2014 1:15 pm
The Japanese yen dropped from its two-day gain against the greenback and Europe’s common currency on Monday after reports from the Japanese government revealed that the nation’s trade deficit increased to a record last year.
The yen dropped from a seven-week high against the US dollar as Treasury yields in the US advanced, while investors focus on the Federal Reserve’s two day meeting which is scheduled to begin January 28-19.
The Japanese yen dropped 0.3% lower to 102.66 per dollar, bouncing back from 101.75 seen earlier, the highest since December and weakened 0.3% to 140.45 against the 18-block euro.
Japan’s Ministry of Finance said the nation’s trade deficit widened in 2013 to a record 11.5 trillion yen , doubling the previous year’s trade shortfall.
Federal Reserve
Market analysts are predicting members of the Federal Open Market Committee will reduce its monthly bond purchases by $10 billion at every meeting to end the stimulus program by December year. The Federal Open Market Committee (FOMC) next policy meeting is scheduled for January 28-29.
The figures for people in the US receiving unemployment benefits unexpectedly increased to 3.06 million in the period ended January 11, the most since July, reports from the Department of Labour confirmed yesterday. Analysts forecasted a decline of 2.9 million after the Labour Department data revealed the economy added 74,000 jobs in December 2014.
The yield on the US ten-year Treasury bonds climbed by 0.01 percentage point to 2.73%, while in Germany; the Ifo Institute’s business climate index is forecasted to show a rise for a third month to 110 in January.
Visitwww.hymarkets.com to find out more about our product offerings and start trading today with only $50 using the latest trading technology today.
The Japanese yen dropped from its two-day gain against the greenback and Europe’s common currency on Monday after reports from the Japanese government revealed that the nation’s trade deficit increased to a record last year.
The yen dropped from a seven-week high against the US dollar as Treasury yields in the US advanced, while investors focus on the Federal Reserve’s two day meeting which is scheduled to begin January 28-19.
The Japanese yen dropped 0.3% lower to 102.66 per dollar, bouncing back from 101.75 seen earlier, the highest since December and weakened 0.3% to 140.45 against the 18-block euro.
Japan’s Ministry of Finance said the nation’s trade deficit widened in 2013 to a record 11.5 trillion yen , doubling the previous year’s trade shortfall.
Federal Reserve
Market analysts are predicting members of the Federal Open Market Committee will reduce its monthly bond purchases by $10 billion at every meeting to end the stimulus program by December year. The Federal Open Market Committee (FOMC) next policy meeting is scheduled for January 28-29.
The figures for people in the US receiving unemployment benefits unexpectedly increased to 3.06 million in the period ended January 11, the most since July, reports from the Department of Labour confirmed yesterday. Analysts forecasted a decline of 2.9 million after the Labour Department data revealed the economy added 74,000 jobs in December 2014.
The yield on the US ten-year Treasury bonds climbed by 0.01 percentage point to 2.73%, while in Germany; the Ifo Institute’s business climate index is forecasted to show a rise for a third month to 110 in January.
Visit www.hymarkets.com to find out more about our product offerings and start trading today with only $50 using the latest trading technology today.
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